Tennessee 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 Tennessee Declaration of Pooled Unit — Short Form is a legal document used in the oil and gas industry to establish a pooled unit for the efficient extraction and development of minerals. This declaration outlines the terms and conditions for the pooling arrangement, providing clarity and structure for all parties involved. Keywords: Tennessee Declaration of Pooled Unit, Short Form, legal document, oil and gas industry, pooled unit, efficient extraction, development of minerals, terms and conditions, pooling arrangement There are several types of Tennessee Declaration of Pooled Unit — Short Form, each catering to specific aspects of the pooling process. Some common variations include: 1. Traditional Pooled Unit — Short Form: This version of the declaration is used for pooling agreements that follow the standard industry practices and regulations. It outlines the basic terms of the arrangement, including the participating interests, acreage contribution, and revenue distribution. 2. Modified Pooled Unit — Short Form: In certain cases, parties may agree to modify the standard pooling practices suiting their specific needs. The modified declaration covers any alterations made to the traditional pooled unit, addressing aspects such as modified revenue distribution or adjusted acreage contribution. 3. Temporary Pooled Unit — Short Form: When there's a need for temporary pooling to address short-term operational requirements, a temporary pooled unit declaration is used. This variation outlines the duration and purpose of the pooling arrangement and specifies the terms applicable during this period. 4. Emergency Pooled Unit — Short Form: In emergency situations, where immediate action is required to prevent significant loss or damage, an emergency pooled unit declaration is utilized. This form addresses the urgency of the situation and includes provisions for expedited decision-making and resource allocation. 5. Unit Expansion Pooled Unit — Short Form: If the initial pooled unit requires expansion to accommodate additional acreage or wells, a unit expansion pooled unit declaration is prepared. This declaration details the process and terms related to the unit expansion, ensuring transparency and agreement among all parties involved. By using the appropriate Tennessee Declaration of Pooled Unit — Short Form, all parties can establish clear and legally binding guidelines for the pooling arrangement, facilitating smooth operations and minimizing conflicts or uncertainties.

The Tennessee Declaration of Pooled Unit — Short Form is a legal document used in the oil and gas industry to establish a pooled unit for the efficient extraction and development of minerals. This declaration outlines the terms and conditions for the pooling arrangement, providing clarity and structure for all parties involved. Keywords: Tennessee Declaration of Pooled Unit, Short Form, legal document, oil and gas industry, pooled unit, efficient extraction, development of minerals, terms and conditions, pooling arrangement There are several types of Tennessee Declaration of Pooled Unit — Short Form, each catering to specific aspects of the pooling process. Some common variations include: 1. Traditional Pooled Unit — Short Form: This version of the declaration is used for pooling agreements that follow the standard industry practices and regulations. It outlines the basic terms of the arrangement, including the participating interests, acreage contribution, and revenue distribution. 2. Modified Pooled Unit — Short Form: In certain cases, parties may agree to modify the standard pooling practices suiting their specific needs. The modified declaration covers any alterations made to the traditional pooled unit, addressing aspects such as modified revenue distribution or adjusted acreage contribution. 3. Temporary Pooled Unit — Short Form: When there's a need for temporary pooling to address short-term operational requirements, a temporary pooled unit declaration is used. This variation outlines the duration and purpose of the pooling arrangement and specifies the terms applicable during this period. 4. Emergency Pooled Unit — Short Form: In emergency situations, where immediate action is required to prevent significant loss or damage, an emergency pooled unit declaration is utilized. This form addresses the urgency of the situation and includes provisions for expedited decision-making and resource allocation. 5. Unit Expansion Pooled Unit — Short Form: If the initial pooled unit requires expansion to accommodate additional acreage or wells, a unit expansion pooled unit declaration is prepared. This declaration details the process and terms related to the unit expansion, ensuring transparency and agreement among all parties involved. By using the appropriate Tennessee Declaration of Pooled Unit — Short Form, all parties can establish clear and legally binding guidelines for the pooling arrangement, facilitating smooth operations and minimizing conflicts or uncertainties.