This form is an agreement that is used by the Parties that are the owners of working, royalty, or other oil and gas interests in the unit area subject to this Agreement. It is pursuant to the Mineral Leasing Act of February 25, 1920, as amended, 30 U.S.C. Sec. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating under a unit plan of development or operations of all or any part of any oil and gas pool, field, or like area, for the purpose of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior to be necessary or advisable in the public interest.
North Carolina Exploratory Unit Agreement
State:
Multi-State
Control #:
US-OG-737
Format:
Word;
Rich Text
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A unit agreement entails a BLM-approved agreement to cooperate in all facets of oil and gas production, without regard to lease boundaries and ownership. All unit agreements are subject to Onshore Oil and Gas Operations regulations (43 CFR Part 3160). What is a Unit Agreement? | BLM MLRS Bureau of Land Management (.gov) ? article ? What-is-a-Unit-Agree... Bureau of Land Management (.gov) ? article ? What-is-a-Unit-Agree...
OF His INTEREST TO A FEDERAL EXPLORATORY UNIT AGREEMENT. I. A Federal Unit Agreement is designed to promote drilling and development in an area of geologic interest. The Unit is based upon preliminary geological or geophysical work-there must be a reasonable possibility of production.
Unitization is a process in which two or more operating companies combine their interests in a single unitized area, allowing them to operate their wells together. Texas' standards include determining the boundaries of the unitized area and how production will be divided amongst the participating companies. What is Pooling & Unitization in Oil & Gas? | The Stuart Firm thestuartfirm.com ? blog ? february ? what-i... thestuartfirm.com ? blog ? february ? what-i...