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.
Oregon Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation In Oregon, a pooling agreement between a lessee and royalty owners on two tracts is a legal document that outlines the terms and conditions for jointly developing and exploiting oil, gas, or mineral resources on multiple tracts of land. The pooling agreement is established to streamline operations, maximize resource utilization, and ensure fair distribution of royalties among all parties involved. The pooling agreement between a lessee (typically an oil and gas exploration company) and royalty owners (landowners or mineral rights holders) on two tracts involves the consolidation of acreage or mineral rights to enhance efficient extraction operations and avoid unnecessary surface disturbance. The agreement may be subdivided into different types, depending on specific parameters and limitations, including depth limitations. Some variations of Oregon pooling agreements between lessees and royalty owners on two tracts, with depth limitation, include: 1. Standard Depth Pooling Agreement: This type of pooling agreement enables the lessee to pool resources from multiple tracts while conforming to a designated depth limitation. It ensures that the extraction activities are restricted to a specific geological formation or depth range. 2. Shallow Depth Pooling Agreement: In this type of agreement, the lessee and royalty owners restrict the pooling activities to a shallow depth, allowing for the extraction of resources from specific shallower geological formations. This limitation could be implemented due to environmental considerations or the need to maintain the integrity of the deeper formations. 3. Deep Depth Pooling Agreement: This pooling agreement allows for the pooling of resources from multiple tracts at deeper depths, targeting specific geological formations or reservoirs. Such agreements might be necessary to access reservoirs that extend beyond individual property boundaries or to maximize the extraction potential of deeper mineral deposits. 4. Dual Depth Pooling Agreement: A dual depth pooling agreement involves the pooling of resources from two tracts while imposing limitations on both shallow and deep depths. This type of agreement ensures balanced utilization of resources from different geological formations. These different types of Oregon pooling agreements aim to protect the interests of both the lessee and royalty owners while facilitating efficient resource extraction. They provide a framework for collaboration, resource optimization, and fair royalty distribution, fostering responsible and sustainable development in the oil, gas, or mineral industry.
