This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
The North Carolina Relinquishment Provision — Horizontal Well is a legal provision that pertains to the regulations and guidelines surrounding the drilling and operation of horizontally drilled wells in the state of North Carolina. This provision outlines the requirements and procedures that operators must adhere to when relinquishing or abandoning their horizontal wells. The North Carolina Relinquishment Provision emphasizes the need for responsible well management and environmental protection. It ensures that operators properly close or transfer their horizontal wells to prevent any adverse effects on groundwater resources, nearby land, and the surrounding ecosystem. There are several types of North Carolina Relinquishment Provision — Horizontal Wells, each with distinct characteristics and guidelines: 1. Voluntary Relinquishment: This type of relinquishment occurs when an operator voluntarily decides to abandon their horizontal well. Operators must follow specific procedures outlined by the North Carolina Department of Environmental Quality (NC DEQ) to ensure the safe and proper closure of the well. 2. Involuntary Relinquishment: In certain cases, the NC DEQ may require an operator to relinquish their horizontal well due to non-compliance or violation of regulations. The NC DEQ may take control of the well to mitigate any potential environmental risks or issues. 3. Transfer of Ownership: When an operator transfers the ownership of a horizontal well to another party, they must comply with the North Carolina Relinquishment Provision. Strict guidelines are in place to ensure that the transfer occurs smoothly and that the new operator assumes full responsibility for the well, including its closure if necessary. 4. Temporary Relinquishment: In some instances, operators may temporarily relinquish their horizontal wells. This may occur when maintenance or repairs are needed, or during periods of low production. The NC DEQ has specific regulations in place for temporary relinquishment to ensure the well is managed and monitored appropriately during this time. It is crucial for operators to understand and comply with the North Carolina Relinquishment Provision — Horizontal Well to promote responsible well management and protect the environment. Adherence to these regulations helps prevent potential groundwater contamination, land subsidence, and other adverse impacts associated with abandoned wells.The North Carolina Relinquishment Provision — Horizontal Well is a legal provision that pertains to the regulations and guidelines surrounding the drilling and operation of horizontally drilled wells in the state of North Carolina. This provision outlines the requirements and procedures that operators must adhere to when relinquishing or abandoning their horizontal wells. The North Carolina Relinquishment Provision emphasizes the need for responsible well management and environmental protection. It ensures that operators properly close or transfer their horizontal wells to prevent any adverse effects on groundwater resources, nearby land, and the surrounding ecosystem. There are several types of North Carolina Relinquishment Provision — Horizontal Wells, each with distinct characteristics and guidelines: 1. Voluntary Relinquishment: This type of relinquishment occurs when an operator voluntarily decides to abandon their horizontal well. Operators must follow specific procedures outlined by the North Carolina Department of Environmental Quality (NC DEQ) to ensure the safe and proper closure of the well. 2. Involuntary Relinquishment: In certain cases, the NC DEQ may require an operator to relinquish their horizontal well due to non-compliance or violation of regulations. The NC DEQ may take control of the well to mitigate any potential environmental risks or issues. 3. Transfer of Ownership: When an operator transfers the ownership of a horizontal well to another party, they must comply with the North Carolina Relinquishment Provision. Strict guidelines are in place to ensure that the transfer occurs smoothly and that the new operator assumes full responsibility for the well, including its closure if necessary. 4. Temporary Relinquishment: In some instances, operators may temporarily relinquish their horizontal wells. This may occur when maintenance or repairs are needed, or during periods of low production. The NC DEQ has specific regulations in place for temporary relinquishment to ensure the well is managed and monitored appropriately during this time. It is crucial for operators to understand and comply with the North Carolina Relinquishment Provision — Horizontal Well to promote responsible well management and protect the environment. Adherence to these regulations helps prevent potential groundwater contamination, land subsidence, and other adverse impacts associated with abandoned wells.
