This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
North Dakota Area of Mutual Interest (ND AMI) refers to a designated geographic location in North Dakota where oil and gas companies collaborate to explore and develop hydrocarbon resources. In this region, companies come together to pool their leasehold rights and resources, facilitating the sharing of costs, data, expertise, and infrastructure to improve efficiency and maximize production. Keywords: North Dakota, Area of Mutual Interest, ND AMI, oil and gas, collaboration, explore, develop, hydrocarbon resources, leasehold rights, cost-sharing, data sharing, expertise sharing, infrastructure sharing, efficiency, production. Different types of North Dakota Area of Mutual Interest include: 1. Taken Shale Area of Mutual Interest: The Taken Shale Formation, located primarily in North Dakota, is one of the most significant oil-producing areas in the United States. The Taken Shale AMI involves companies collaborating to explore and produce oil and gas from this formation, utilizing advanced drilling and extraction techniques. 2. Three Forks Formation Area of Mutual Interest: The Three Forks Formation is another major oil and gas-producing formation in North Dakota. It is situated below the Taken Shale Formation. The Three Forks AMI focuses on collaboration among companies to explore and develop hydrocarbon resources from this formation, aiming to optimize production and efficiently exploit this potential resource. 3. Williston Basin Area of Mutual Interest: The Williston Basin, located in North Dakota and extending into Montana and South Dakota, is a geological basin known for its rich oil and gas reserves. The Williston Basin AMI encompasses this expansive area, where companies come together to consolidate resources, expertise, and infrastructure for effective exploration and development of oil and gas reserves within the basin. 4. Fort Bert hold Reservation Area of Mutual Interest: The Fort Bert hold Reservation, located in western North Dakota, is home to significant oil and gas resources. The Fort Bert hold Reservation AMI brings together companies operating within this Native American reservation to achieve collective goals such as responsible resource extraction, economic development, and environmental stewardship. 5. Red River Valley Area of Mutual Interest: The Red River Valley, spanning parts of North Dakota and Minnesota, is an area of interest for oil and gas exploration. The Red River Valley AMI involves collaboration among companies to assess and develop hydrocarbon resources within this region, which involves unique geological characteristics and potential challenges in exploration. In conclusion, North Dakota Area of Mutual Interest (ND AMI) encompasses various regions within North Dakota where companies collaborate to explore and develop hydrocarbon resources such as the Taken Shale, Three Forks Formation, Williston Basin, Fort Bert hold Reservation, and Red River Valley. This collaborative approach aims to optimize production, share costs and resources, and leverage expertise for efficient and responsible extraction of oil and gas reserves.
