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.
Nebraska Amendment to Pooled Unit Designation refers to a legal process in Nebraska that allows for modifications or alterations to the existing pooled unit designation for oil and gas operations. This amendment ensures that the allocation and distribution of oil and gas resources in a particular pool or reservoir are dealt with in an equitable and efficient manner. The primary objective of a Nebraska Amendment to Pooled Unit Designation is to accommodate changes in the development of oil and gas fields, ensuring fair distribution among the stakeholders involved. The amendment process is undertaken to address any necessary modifications to the ongoing development plan, which may arise due to new economic, geological, or technological considerations. Keywords: 1. Nebraska: Refers to the state in which the Amendment to Pooled Unit Designation is applicable. 2. Amendment: Denotes a modification or alteration to the existing pooled unit designation. 3. Pooled Unit Designation: The original allocation and boundaries of a pooled unit, often determined by geographical or geological considerations. 4. Oil and Gas: Relates to the resources being extracted and allocated through the pooled unit designation. 5. Reservoir: Refers to an underground formation containing oil and gas reserves. 6. Equitable: Signifying fairness or just distribution of resources among stakeholders. 7. Efficient: Emphasizing the need for resource allocation to be economically and practically viable. Different Types of Nebraska Amendment to Pooled Unit Designation: There could be various types of amendments associated with pooled unit designations in Nebraska, as each amendment serves a specific purpose or addresses particular concerns. Some potential types of Nebraska Amendment to Pooled Unit Designation can include: 1. Expansion Amendment: This amendment is enacted when there is a need to expand the boundaries of an existing pooled unit due to the discovery of additional viable oil and gas reserves within the same reservoir. 2. Reduction Amendment: This type of amendment is pursued when a decrease in the size or scope of an existing pooled unit is necessary. It may occur if certain areas within the original designation become economically unviable or if distribution adjustments need to be made. 3. Adjustment Amendment: When adjustments are required to the allocation or distribution of resources within a pooled unit, an adjustment amendment is pursued to modify the existing plan, ensuring fairness and efficiency. 4. Technology-driven Amendment: In cases where technological advancements allow for more accurate exploration or extraction of oil and gas reserves, a technology-driven amendment is proposed to optimize the utilization of resources in accordance with the latest methods. Overall, the Nebraska Amendment to Pooled Unit Designation allows for flexibility and adaptability in managing oil and gas resources, ensuring that the stakeholders benefit from the most efficient and equitable extraction and distribution practices.Nebraska Amendment to Pooled Unit Designation refers to a legal process in Nebraska that allows for modifications or alterations to the existing pooled unit designation for oil and gas operations. This amendment ensures that the allocation and distribution of oil and gas resources in a particular pool or reservoir are dealt with in an equitable and efficient manner. The primary objective of a Nebraska Amendment to Pooled Unit Designation is to accommodate changes in the development of oil and gas fields, ensuring fair distribution among the stakeholders involved. The amendment process is undertaken to address any necessary modifications to the ongoing development plan, which may arise due to new economic, geological, or technological considerations. Keywords: 1. Nebraska: Refers to the state in which the Amendment to Pooled Unit Designation is applicable. 2. Amendment: Denotes a modification or alteration to the existing pooled unit designation. 3. Pooled Unit Designation: The original allocation and boundaries of a pooled unit, often determined by geographical or geological considerations. 4. Oil and Gas: Relates to the resources being extracted and allocated through the pooled unit designation. 5. Reservoir: Refers to an underground formation containing oil and gas reserves. 6. Equitable: Signifying fairness or just distribution of resources among stakeholders. 7. Efficient: Emphasizing the need for resource allocation to be economically and practically viable. Different Types of Nebraska Amendment to Pooled Unit Designation: There could be various types of amendments associated with pooled unit designations in Nebraska, as each amendment serves a specific purpose or addresses particular concerns. Some potential types of Nebraska Amendment to Pooled Unit Designation can include: 1. Expansion Amendment: This amendment is enacted when there is a need to expand the boundaries of an existing pooled unit due to the discovery of additional viable oil and gas reserves within the same reservoir. 2. Reduction Amendment: This type of amendment is pursued when a decrease in the size or scope of an existing pooled unit is necessary. It may occur if certain areas within the original designation become economically unviable or if distribution adjustments need to be made. 3. Adjustment Amendment: When adjustments are required to the allocation or distribution of resources within a pooled unit, an adjustment amendment is pursued to modify the existing plan, ensuring fairness and efficiency. 4. Technology-driven Amendment: In cases where technological advancements allow for more accurate exploration or extraction of oil and gas reserves, a technology-driven amendment is proposed to optimize the utilization of resources in accordance with the latest methods. Overall, the Nebraska Amendment to Pooled Unit Designation allows for flexibility and adaptability in managing oil and gas resources, ensuring that the stakeholders benefit from the most efficient and equitable extraction and distribution practices.
