Pennsylvania Declaration of Pooled Unit - Short Form

• Category: Oil Gas and Minerals - Pooling and Unitization
• State: Multi-State
• Control #: US-OG-376
• Format: Word; Rich Text

Description

This declaration is executed by an Operator and filed of record for the purpose of exercising the pooling authority granted to the Lessee in the Leases, and giving notice of the Lands included in the Unit established by the Operator. The Pennsylvania Declaration of Pooled Unit — Short Form is a legal document specific to the state of Pennsylvania that pertains to oil and gas exploration and production. It is used when multiple landowners agree to pool their interests or combine their properties for the purposes of drilling and extracting oil or gas. The declaration serves as an agreement between the pooled unit participants, outlining the terms and conditions related to the pooling arrangement. It establishes the rights and responsibilities of each party involved, including the operator and the non-operating interest owners. Keywords: 1. Pennsylvania: Indicates that the document is specific to the state of Pennsylvania, implying that the laws and regulations of the state govern it. 2. Declaration of Pooled Unit: Refers to the legal agreement that establishes the pooling arrangement between the landowners. 3. Short Form: Specifies that the document is a shorter version of the declaration, highlighting that there may be other variations of the Pennsylvania Declaration of Pooled Unit. 4. Oil and Gas: Indicates the specific industry to which the document relates, emphasizing that it concerns exploration and production of petroleum resources. 5. Landowners: Refers to individuals or entities who own the land or mineral rights within the designated area of the pooled unit. 6. Interests: Describes the share or rights that each landowner has in the oil or gas resources within the pooled unit. 7. Operator: Denotes the entity responsible for conducting the drilling, extraction, and management of the pooled unit operations. 8. Non-Operating Interest Owners: Represents landowners who have a stake in the pooled unit but do not actively participate in the operations. They typically receive a share of the profits or revenue from the oil or gas production. Different types of Pennsylvania Declaration of Pooled Unit — Short Form may exist depending on various factors such as the specific language used, additional clauses or provisions included, or variations in formatting. These types may be customized by legal professionals to suit the specific needs of the pooling parties while still adhering to the relevant Pennsylvania laws and regulations.

The Pennsylvania Declaration of Pooled Unit — Short Form is a legal document specific to the state of Pennsylvania that pertains to oil and gas exploration and production. It is used when multiple landowners agree to pool their interests or combine their properties for the purposes of drilling and extracting oil or gas. The declaration serves as an agreement between the pooled unit participants, outlining the terms and conditions related to the pooling arrangement. It establishes the rights and responsibilities of each party involved, including the operator and the non-operating interest owners. Keywords: 1. Pennsylvania: Indicates that the document is specific to the state of Pennsylvania, implying that the laws and regulations of the state govern it. 2. Declaration of Pooled Unit: Refers to the legal agreement that establishes the pooling arrangement between the landowners. 3. Short Form: Specifies that the document is a shorter version of the declaration, highlighting that there may be other variations of the Pennsylvania Declaration of Pooled Unit. 4. Oil and Gas: Indicates the specific industry to which the document relates, emphasizing that it concerns exploration and production of petroleum resources. 5. Landowners: Refers to individuals or entities who own the land or mineral rights within the designated area of the pooled unit. 6. Interests: Describes the share or rights that each landowner has in the oil or gas resources within the pooled unit. 7. Operator: Denotes the entity responsible for conducting the drilling, extraction, and management of the pooled unit operations. 8. Non-Operating Interest Owners: Represents landowners who have a stake in the pooled unit but do not actively participate in the operations. They typically receive a share of the profits or revenue from the oil or gas production. Different types of Pennsylvania Declaration of Pooled Unit — Short Form may exist depending on various factors such as the specific language used, additional clauses or provisions included, or variations in formatting. These types may be customized by legal professionals to suit the specific needs of the pooling parties while still adhering to the relevant Pennsylvania laws and regulations.