This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
Mississippi Amendment to Pooled Unit Designation
State:
Multi-State
Control #:
US-OG-365
Format:
Word;
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How to fill out Amendment To Pooled Unit Designation?
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FAQ
When pooling occurs, tracts from two or more leases are combined or pooled for the drilling of the well. The production and operations on the pooled unit are treated as having taken place on each tract within the pooled unit. As a result, the production on the pooled unit will maintain the leases comprising the unit.
Pooling is ?the bringing together of small tracts sufficient for the granting of a well permit under applicable spacing rules,? while unitization is ?the joint operation of all or some portion of a producing reservoir.?[1] While pooling and unitization are both used to prevent waste and protect correlative rights,[2] ...
The Mineral Interest Pooling Act (MIPA) is the Texas version of compulsory or mine that is the legislative response to the Normanna court decision. In brief, MIPA: Was enacted to encourage voluntary pooling. Allowed the RRC to compel pooling for separately owned tracts in the same field reservoir.
Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated ing to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.
A pooling unit is designated, bringing together all the mineral rights in a specific area. As oil and gas production starts, the generated mineral interests are distributed ing to the ownership percentages and the allocation formula specified in the pooling arrangement.
In the case of pooling, more than one tract or lease will be combined or pooled in order for the drilling of the well to take place. Operations and productions that are taken from the pooled unit have to be treated as if they are taking place on each tract within that pooled unit.