This form is used when royalty owners are the owners of royalty and mineral interests in Tracts 1 and 2, subject to the terms of Lease 1 and Lease 2. Recognizing that each of the Royalty Owners may not own an Interest in both Tracts 1 and 2, or may not own an identical Interest in Tracts 1 and 2, it is their desire, together with Lessee, to pool and unitize these two Tracts for oil and gas operations.
Nebraska Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation Nebraska's pooling agreements play a crucial role in oil and gas exploration and production. When it comes to pooling agreements between lessees and royalty owners on two tracts in Nebraska, with depth limitation, certain key aspects must be considered. These agreements are designed to optimize resource extraction while ensuring fair compensation to all parties involved. In a Nebraska pooling agreement between lessee and royalty owners on two tracts, the lessee, typically an oil and gas company, seeks to consolidate contiguous tracts of land for the purpose of efficient drilling operations. By pooling the interests of multiple tracts, the lessee can combine resources, reduce costs, and overcome technical challenges that may arise from drilling on isolated tracts. One important aspect of these agreements is the depth limitation. This limitation specifies the targeted depth at which the lessee intends to explore and produce oil and gas. It ensures that the pooling agreement is specifically tailored to a particular reservoir or zone beneath the surface. By implementing a depth limitation, the agreement can be more efficient and effective in achieving optimized resource recovery while respecting the rights of the royalty owners. Different types of Nebraska pooling agreements between lessee and royalty owners on two tracts, with depth limitation, can include: 1. Limited Depth Pooling Agreement: In this type of agreement, the pooling is restricted only to a specific depth or target formation. This allows the lessee to optimize operations and avoids unnecessary complexities associated with multi-layered reservoirs. 2. Zone-Selective Pooling Agreement: These agreements focus on a particular zone of interest within the targeted depth. It enables the lessee to effectively exploit a specific reservoir while maintaining control over production activities. 3. Depth-Restricted Pooling Agreement: This type of agreement imposes limitations on drilling and production activities beyond a specified depth. It helps in preventing the lessee from extending operations into deeper formations that may belong to different leaseholders' interests. 4. Multi-Well Pooling Agreement: This agreement encompasses the drilling and production of multiple wells within the limited depth and targeted zone. It allows the lessee to pursue multiple extraction points simultaneously, thereby maximizing resource recovery. These different types of Nebraska pooling agreements between lessee and royalty owners on two tracts, with depth limitation, provide flexibility and customization to suit specific geological characteristics and operational preferences. They effectively balance the interests of the lessee and the royalty owners, combining resources, mitigating risks, and optimizing production while respecting the integrity of the individual tracts and geological formations.
