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.
A New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a legal contract that regulates the extraction of natural resources, such as oil, gas, or minerals, from multiple parcels of land in New York. This agreement allows the pooling of interests in order to maximize the efficiency and profitability of resource extraction operations. The pooling agreement involves two tracts of land, each owned by different royalty owners, and a lessee who holds the rights to extract resources from these tracts. By combining the ownership interests of these tracts, the lessee can operate under a unified plan, which is more cost-effective and allows for optimum resource recovery. The depth limitation clause within the pooling agreement sets a specific depth below which the lessee can extract resources. This clause places restrictions on the lessee's operations to safeguard against interfering with other underground resources or properties. There may be different types of New York Pooling Agreements between lessees and royalty owners on two tracts, with depth limitations, depending on the specific nature of the project and the resources involved. Some potential variations of these agreements may include: 1. Oil and Gas Pooling Agreement: This type of agreement is specific to the extraction of oil and gas resources from the two tracts. It outlines the terms and conditions regarding resource extraction, royalties, and drilling operations within the stipulated depth limitation. 2. Mineral Pooling Agreement: If the two tracts contain valuable minerals, such as coal or precious metals, a mineral pooling agreement may be implemented. This agreement governs the extraction, processing, and distribution of minerals while adhering to the depth limitation clause. 3. Comprehensive Pooling Agreement: In cases where the two tracts contain diverse resources, such as oil, gas, and minerals, a comprehensive pooling agreement can be established. This agreement encompasses all the necessary provisions to accommodate the extraction, royalties, and compliance with depth limitations for multiple resources. 4. Time-Limited Pooling Agreement: In certain situations, a pooling agreement may be established for a specific period, allowing the lessee to extract resources within the depth limitations for a predetermined timeframe, after which the agreement expires. Overall, the New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a crucial legal instrument that facilitates cooperative resource extraction operations while ensuring the protection of underground resources and neighboring properties.A New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a legal contract that regulates the extraction of natural resources, such as oil, gas, or minerals, from multiple parcels of land in New York. This agreement allows the pooling of interests in order to maximize the efficiency and profitability of resource extraction operations. The pooling agreement involves two tracts of land, each owned by different royalty owners, and a lessee who holds the rights to extract resources from these tracts. By combining the ownership interests of these tracts, the lessee can operate under a unified plan, which is more cost-effective and allows for optimum resource recovery. The depth limitation clause within the pooling agreement sets a specific depth below which the lessee can extract resources. This clause places restrictions on the lessee's operations to safeguard against interfering with other underground resources or properties. There may be different types of New York Pooling Agreements between lessees and royalty owners on two tracts, with depth limitations, depending on the specific nature of the project and the resources involved. Some potential variations of these agreements may include: 1. Oil and Gas Pooling Agreement: This type of agreement is specific to the extraction of oil and gas resources from the two tracts. It outlines the terms and conditions regarding resource extraction, royalties, and drilling operations within the stipulated depth limitation. 2. Mineral Pooling Agreement: If the two tracts contain valuable minerals, such as coal or precious metals, a mineral pooling agreement may be implemented. This agreement governs the extraction, processing, and distribution of minerals while adhering to the depth limitation clause. 3. Comprehensive Pooling Agreement: In cases where the two tracts contain diverse resources, such as oil, gas, and minerals, a comprehensive pooling agreement can be established. This agreement encompasses all the necessary provisions to accommodate the extraction, royalties, and compliance with depth limitations for multiple resources. 4. Time-Limited Pooling Agreement: In certain situations, a pooling agreement may be established for a specific period, allowing the lessee to extract resources within the depth limitations for a predetermined timeframe, after which the agreement expires. Overall, the New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation is a crucial legal instrument that facilitates cooperative resource extraction operations while ensuring the protection of underground resources and neighboring properties.
