This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
The Oregon Gas Storage and Secondary Recovery Unit Agreement, often referred to as the USSR agreement, is a legal contract between parties involved in the storage and utilization of natural gas resources in the state of Oregon. This comprehensive agreement sets forth the terms, conditions, and responsibilities pertaining to the operation and management of gas storage and secondary recovery units in Oregon. An USSR agreement typically outlines the rights and obligations of the gas storage operator or owner, as well as the secondary recovery unit operator. It establishes guidelines for accessing, storing, and withdrawing natural gas from storage facilities, ensuring fair and efficient utilization of these valuable resources. One type of Oregon Gas Storage and Secondary Recovery Unit Agreement is the "Lease Agreement." This agreement assigns the rights to store and recover natural gas in a specific storage unit to a lessee for a predetermined period. It outlines the requirements, fees, and terms for the lessee's utilization of the gas storage unit. Another type is the "Operating Agreement." This agreement regulates the day-to-day operations, maintenance, and management of the gas storage and secondary recovery units. It defines the responsibilities of the operator, safety protocols, reporting requirements, and procedures to handle emergencies or potential failures in the system. Additionally, the "Storage Service Agreement" is a type of USSR agreement that establishes a contractual relationship between the gas storage operator and the customer. It outlines the terms for providing storage services, including capacity allocation, injection and withdrawal schedules, rates, and other commercial aspects. Key elements specified in an USSR agreement may include reservoir characterization, well operations, monitoring and reporting requirements, safety and environmental guidelines, dispute resolution mechanisms, and financial or insurance provisions. This comprehensive agreement aims to ensure the sustainable and reliable production, storage, and utilization of natural gas resources in Oregon while safeguarding the interests of all parties involved. In conclusion, the Oregon Gas Storage and Secondary Recovery Unit Agreement is a crucial legal document that governs the activities related to gas storage and secondary recovery units in Oregon. Its various types, including Lease Agreement, Operating Agreement, and Storage Service Agreement, cater to different aspects of storage operations, management, and customer relations.The Oregon Gas Storage and Secondary Recovery Unit Agreement, often referred to as the USSR agreement, is a legal contract between parties involved in the storage and utilization of natural gas resources in the state of Oregon. This comprehensive agreement sets forth the terms, conditions, and responsibilities pertaining to the operation and management of gas storage and secondary recovery units in Oregon. An USSR agreement typically outlines the rights and obligations of the gas storage operator or owner, as well as the secondary recovery unit operator. It establishes guidelines for accessing, storing, and withdrawing natural gas from storage facilities, ensuring fair and efficient utilization of these valuable resources. One type of Oregon Gas Storage and Secondary Recovery Unit Agreement is the "Lease Agreement." This agreement assigns the rights to store and recover natural gas in a specific storage unit to a lessee for a predetermined period. It outlines the requirements, fees, and terms for the lessee's utilization of the gas storage unit. Another type is the "Operating Agreement." This agreement regulates the day-to-day operations, maintenance, and management of the gas storage and secondary recovery units. It defines the responsibilities of the operator, safety protocols, reporting requirements, and procedures to handle emergencies or potential failures in the system. Additionally, the "Storage Service Agreement" is a type of USSR agreement that establishes a contractual relationship between the gas storage operator and the customer. It outlines the terms for providing storage services, including capacity allocation, injection and withdrawal schedules, rates, and other commercial aspects. Key elements specified in an USSR agreement may include reservoir characterization, well operations, monitoring and reporting requirements, safety and environmental guidelines, dispute resolution mechanisms, and financial or insurance provisions. This comprehensive agreement aims to ensure the sustainable and reliable production, storage, and utilization of natural gas resources in Oregon while safeguarding the interests of all parties involved. In conclusion, the Oregon Gas Storage and Secondary Recovery Unit Agreement is a crucial legal document that governs the activities related to gas storage and secondary recovery units in Oregon. Its various types, including Lease Agreement, Operating Agreement, and Storage Service Agreement, cater to different aspects of storage operations, management, and customer relations.
