This form is used to promote conservation, increase the ultimate recovery of Unitized Substances of the specified lands and to protect the rights of the owners, it is deemed necessary and desirable to enter this Agreement, in conformity with (Applicable State Statute), to unitize the oil and gas rights in the Unitized Formation in order to conduct Unit operations for the conservation and utilization of Unitized Substances as provided in this Agreement.
Ohio Unitization Agreement
State:
Multi-State
Control #:
US-OG-776
Format:
Word;
Rich Text
Instant download
Description
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FAQ
Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.
Let's read on methods used in cargo unitization. Pallet. It is a flat tray, generally made of wood, but occasionally made of steel or plastic on which goods in cartons, bags can be stacked to facilitate handling by use of forklift trucks. ... Packaged Timber. ... 20 feet Bolsters. ... Maji Trailers. ... Load Trailers. ... Barge Units.
A: Unitization is the process of creating an unregistered 'fund' (similar to a mutual fund) for an investor allowing for easier support of sub-accounts ? smaller, affiliated entities that are part of a larger, main pool of assets).
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.
A unitized fund is a type of investment fund structure that uses pooled money to invest with individually reported unit values for investors. Assets in the pool are managed to a specific objective, often with concentration in one stock.
In shipping, unitization usually consists of grouping cargo together, such as onto a pallet, then wrapping and loading it into a larger container for shipping. The bigger units can more easily be handled by a machine, such as a forklift.