This form is an agreement that is used by the Parties that are the owners of working, royalty, or other oil and gas interests in the unit area subject to this Agreement. It is pursuant to the Mineral Leasing Act of February 25, 1920, as amended, 30 U.S.C. Sec. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating under a unit plan of development or operations of all or any part of any oil and gas pool, field, or like area, for the purpose of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior to be necessary or advisable in the public interest.
The Texas Exploratory Unit Agreement is a legal document that outlines the collaborative efforts between multiple parties involved in the exploration and production of oil and gas resources in Texas. This agreement serves as a crucial framework to define the rights, obligations, and responsibilities of the parties involved.The Texas Exploratory Unit Agreement is a legal document that outlines the collaborative efforts between multiple parties involved in the exploration and production of oil and gas resources in Texas. This agreement serves as a crucial framework to define the rights, obligations, and responsibilities of the parties involved.
