This is a provision for an Operating Agreement that concerns the Assignment of rights to an obligatory well. It provides the assignment options if any proposed operations are necessary to maintain a Lease covered by the Agreement in force or an agreement to earn a lease(s) which would otherwise expire unless operations are conducted.
Texas Obligatory Well refers to a mandatory well that needs to be drilled in the state of Texas, in compliance with specific regulations and requirements set by the Texas Railroad Commission (RRC). These wells are part of the state's efforts to ensure the responsible extraction of oil and gas resources while safeguarding the environment, public safety, and overall well-being of Texans. The main objective behind the Texas Obligatory Well is to prevent the wasteful and uncontrolled production of oil and gas reserves. By implementing this requirement, the RRC aims to track production, protect underground formations, minimize surface disruption, and conserve natural resources for future generations. Keywords and phrases that are relevant to understanding Texas Obligatory Well include: 1. Texas Railroad Commission: The regulatory body responsible for overseeing the oil and gas industry in Texas and enforcing rules related to obligatory wells. 2. Oil and gas drilling: The process of extracting natural resources such as crude oil and natural gas from the Earth's subsurface. 3. Environmental regulations: Guidelines and standards intended to protect land, water, air quality, and ecosystems from adverse effects of drilling operations. 4. Production tracking: The systematic monitoring and reporting of oil and gas production volumes to ensure compliance with regulations. 5. Resource conservation: The preservation and sustainable management of natural resources. 6. Public safety: Measures taken to ensure the well-being of individuals and communities living near drilling sites. 7. Responsible extraction: The ethical and sustainable practices employed to extract oil and gas resources while minimizing environmental impact and maximizing benefits. 8. Surface disruption: Any disturbance or alteration of the land's surface resulting from drilling activities. 9. Underground formations: Geological structures containing oil and gas reserves in porous rocks, such as shale, limestone, or sandstone. Different types of Texas Obligatory Wells can be categorized based on their specific purposes and regulations. Some common types include: 1. Injection Wells: These wells are used to inject fluids, such as water or natural gas, into underground formations for secondary oil recovery or waste disposal purposes. They play a crucial role in maintaining reservoir pressure and maximizing oil recovery. 2. Disposal Wells: Designed for the safe disposal of produced water, a byproduct of oil and gas extraction, these wells prevent contamination of groundwater and protect the environment. 3. Production Wells: These wells are drilled in areas where oil and gas reserves are expected to be commercially viable. They allow for the extraction of resources and subsequent production for various energy applications. 4. Plugging and Abandonment Wells: After a well's productive life cycle is over, it needs to be properly plugged and abandoned to prevent leakage, protect groundwater quality, and eliminate potential hazards. Overall, Texas Obligatory Wells embody the state's commitment to responsible energy extraction, wherein strict adherence to regulations ensures that natural resources are utilized efficiently while keeping environmental conservation and public safety at the forefront.Texas Obligatory Well refers to a mandatory well that needs to be drilled in the state of Texas, in compliance with specific regulations and requirements set by the Texas Railroad Commission (RRC). These wells are part of the state's efforts to ensure the responsible extraction of oil and gas resources while safeguarding the environment, public safety, and overall well-being of Texans. The main objective behind the Texas Obligatory Well is to prevent the wasteful and uncontrolled production of oil and gas reserves. By implementing this requirement, the RRC aims to track production, protect underground formations, minimize surface disruption, and conserve natural resources for future generations. Keywords and phrases that are relevant to understanding Texas Obligatory Well include: 1. Texas Railroad Commission: The regulatory body responsible for overseeing the oil and gas industry in Texas and enforcing rules related to obligatory wells. 2. Oil and gas drilling: The process of extracting natural resources such as crude oil and natural gas from the Earth's subsurface. 3. Environmental regulations: Guidelines and standards intended to protect land, water, air quality, and ecosystems from adverse effects of drilling operations. 4. Production tracking: The systematic monitoring and reporting of oil and gas production volumes to ensure compliance with regulations. 5. Resource conservation: The preservation and sustainable management of natural resources. 6. Public safety: Measures taken to ensure the well-being of individuals and communities living near drilling sites. 7. Responsible extraction: The ethical and sustainable practices employed to extract oil and gas resources while minimizing environmental impact and maximizing benefits. 8. Surface disruption: Any disturbance or alteration of the land's surface resulting from drilling activities. 9. Underground formations: Geological structures containing oil and gas reserves in porous rocks, such as shale, limestone, or sandstone. Different types of Texas Obligatory Wells can be categorized based on their specific purposes and regulations. Some common types include: 1. Injection Wells: These wells are used to inject fluids, such as water or natural gas, into underground formations for secondary oil recovery or waste disposal purposes. They play a crucial role in maintaining reservoir pressure and maximizing oil recovery. 2. Disposal Wells: Designed for the safe disposal of produced water, a byproduct of oil and gas extraction, these wells prevent contamination of groundwater and protect the environment. 3. Production Wells: These wells are drilled in areas where oil and gas reserves are expected to be commercially viable. They allow for the extraction of resources and subsequent production for various energy applications. 4. Plugging and Abandonment Wells: After a well's productive life cycle is over, it needs to be properly plugged and abandoned to prevent leakage, protect groundwater quality, and eliminate potential hazards. Overall, Texas Obligatory Wells embody the state's commitment to responsible energy extraction, wherein strict adherence to regulations ensures that natural resources are utilized efficiently while keeping environmental conservation and public safety at the forefront.
