This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
Tennessee Amendment to Pooled Unit Designation refers to a legal provision that allows for changes to be made to the existing pooled unit designation in Tennessee. Pooled unit designations are used in the oil and gas industry to establish boundaries and rights for the extraction of resources from a common reservoir. The amendment to the pooled unit designation can occur for various reasons, including changes in ownership, development plans, or modifications in resource extraction techniques. This amendment ensures that the pooled unit designations remain updated and aligned with the evolving needs and circumstances of the oil and gas operations in Tennessee. There are different types of Tennessee Amendments to Pooled Unit Designation, each serving a specific purpose. These can include: 1. Ownership Transfer Amendment: This type of amendment occurs when there is a change in ownership of the pooled unit. It could involve the sale, inheritance, or transfer of ownership rights to a different individual or entity. The amendment updates the pooled unit designation to reflect the new ownership structure accurately. 2. Development Plan Amendment: When there is a need to alter the original development plan for the pooled unit, a development plan amendment is required. This can be due to changes in extraction techniques, new technologies, or revised operational strategies. Such amendments ensure that the pooled unit designation remains relevant and optimizes resource extraction. 3. Boundary Modification Amendment: Boundary modifications may become necessary when new information is obtained about the reservoir's extent or when an adjacent property is incorporated into the pooled unit. This type of amendment adjusts the boundaries of the pooled unit to reflect the newly discovered information or additions. 4. Environmental Compliance Amendment: With growing concerns about environmental protection, it is required to make amendments to the pooled unit designation to align with environmental regulations and guidelines. This type of amendment ensures that the operations carried out within the pooled unit comply with environmental standards and safeguards. In conclusion, Tennessee Amendment to Pooled Unit Designation enables modifications to be made to the existing pooled unit designation in order to accommodate changes in ownership, development plans, boundaries, and environmental compliance. These amendments ensure that the pooled unit designation remains accurate and reflects the evolving requirements of oil and gas operations in Tennessee.Tennessee Amendment to Pooled Unit Designation refers to a legal provision that allows for changes to be made to the existing pooled unit designation in Tennessee. Pooled unit designations are used in the oil and gas industry to establish boundaries and rights for the extraction of resources from a common reservoir. The amendment to the pooled unit designation can occur for various reasons, including changes in ownership, development plans, or modifications in resource extraction techniques. This amendment ensures that the pooled unit designations remain updated and aligned with the evolving needs and circumstances of the oil and gas operations in Tennessee. There are different types of Tennessee Amendments to Pooled Unit Designation, each serving a specific purpose. These can include: 1. Ownership Transfer Amendment: This type of amendment occurs when there is a change in ownership of the pooled unit. It could involve the sale, inheritance, or transfer of ownership rights to a different individual or entity. The amendment updates the pooled unit designation to reflect the new ownership structure accurately. 2. Development Plan Amendment: When there is a need to alter the original development plan for the pooled unit, a development plan amendment is required. This can be due to changes in extraction techniques, new technologies, or revised operational strategies. Such amendments ensure that the pooled unit designation remains relevant and optimizes resource extraction. 3. Boundary Modification Amendment: Boundary modifications may become necessary when new information is obtained about the reservoir's extent or when an adjacent property is incorporated into the pooled unit. This type of amendment adjusts the boundaries of the pooled unit to reflect the newly discovered information or additions. 4. Environmental Compliance Amendment: With growing concerns about environmental protection, it is required to make amendments to the pooled unit designation to align with environmental regulations and guidelines. This type of amendment ensures that the operations carried out within the pooled unit comply with environmental standards and safeguards. In conclusion, Tennessee Amendment to Pooled Unit Designation enables modifications to be made to the existing pooled unit designation in order to accommodate changes in ownership, development plans, boundaries, and environmental compliance. These amendments ensure that the pooled unit designation remains accurate and reflects the evolving requirements of oil and gas operations in Tennessee.
