This Designation is executed by the Operator and Working Interest Owners and filed of record for the purpose of evidencing their election to exercise the pooling authority granted to the lessees in the Leases, to give notice of the Unit being established, and to identify and describe the lands included in the Unit.
The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is a legal document that establishes the creation of a pooled unit for efficient oil or gas extraction within the state of Washington. This document plays a crucial role in promoting the collaborative development and management of oil or gas resources while ensuring fairness among multiple property owners. In the state of Washington, there exist several types of Designation of Pooled Unit and Declaration of Pooling for Oil or Gas, including: 1. Voluntary Pooled Unit: This type of pooling occurs when multiple landowners voluntarily come together to combine their properties for the purpose of oil or gas exploration and production under a unified plan. By pooling resources, the economic viability of smaller properties is enhanced, and the overall efficiency of the project is increased. 2. Compulsory Pooled Unit: In certain cases, a compulsory pooling declaration may be initiated when one or more property owners refuse to voluntarily join a pooled unit. This declaration is made by the relevant regulatory body or operating company, compelling reluctant landowners to participate in the unit. It ensures a fair distribution of risks, benefits, and financial returns among all involved parties. 3. Enhanced Recovery Pooled Unit: This type of pooling is specific to enhanced recovery operations, where advanced techniques are employed to extract oil or gas from reservoirs that have become less productive over time. Enhanced recovery methods involve the injection of fluids or gases into the reservoir to improve the flow of hydrocarbons. The designation of a pooled unit optimizes the efficiency of these operations. The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas document contains several important elements: a. Unit Description: This section outlines the boundaries and specifications of the pooled unit, including the acreage, legal descriptions, and identification of participating properties. b. Pooling Objective: The document clearly states the purpose of pooling, whether it is for enhanced recovery, cost optimization, or increased production efficiency. c. Allocation of Interests: It specifies the proportionate share of the pooled unit's production and associated costs that each participant will bear, considering factors such as property acreage or initial investment. d. Operating Agreement: This section lays out the framework for the management, operation, and decision-making processes within the pooled unit. It addresses issues such as drilling procedures, revenue distribution, and dispute resolutions. e. Term and Termination: The document defines the duration of the pooling arrangement and the circumstances that can lead to its termination, ensuring adequate safeguards for all parties involved. The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas serves as a legally binding agreement among participating property owners, facilitating the organized and efficient extraction of oil or gas resources while safeguarding the rights and interests of all parties involved.The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is a legal document that establishes the creation of a pooled unit for efficient oil or gas extraction within the state of Washington. This document plays a crucial role in promoting the collaborative development and management of oil or gas resources while ensuring fairness among multiple property owners. In the state of Washington, there exist several types of Designation of Pooled Unit and Declaration of Pooling for Oil or Gas, including: 1. Voluntary Pooled Unit: This type of pooling occurs when multiple landowners voluntarily come together to combine their properties for the purpose of oil or gas exploration and production under a unified plan. By pooling resources, the economic viability of smaller properties is enhanced, and the overall efficiency of the project is increased. 2. Compulsory Pooled Unit: In certain cases, a compulsory pooling declaration may be initiated when one or more property owners refuse to voluntarily join a pooled unit. This declaration is made by the relevant regulatory body or operating company, compelling reluctant landowners to participate in the unit. It ensures a fair distribution of risks, benefits, and financial returns among all involved parties. 3. Enhanced Recovery Pooled Unit: This type of pooling is specific to enhanced recovery operations, where advanced techniques are employed to extract oil or gas from reservoirs that have become less productive over time. Enhanced recovery methods involve the injection of fluids or gases into the reservoir to improve the flow of hydrocarbons. The designation of a pooled unit optimizes the efficiency of these operations. The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas document contains several important elements: a. Unit Description: This section outlines the boundaries and specifications of the pooled unit, including the acreage, legal descriptions, and identification of participating properties. b. Pooling Objective: The document clearly states the purpose of pooling, whether it is for enhanced recovery, cost optimization, or increased production efficiency. c. Allocation of Interests: It specifies the proportionate share of the pooled unit's production and associated costs that each participant will bear, considering factors such as property acreage or initial investment. d. Operating Agreement: This section lays out the framework for the management, operation, and decision-making processes within the pooled unit. It addresses issues such as drilling procedures, revenue distribution, and dispute resolutions. e. Term and Termination: The document defines the duration of the pooling arrangement and the circumstances that can lead to its termination, ensuring adequate safeguards for all parties involved. The Washington Designation of Pooled Unit and Declaration of Pooling for Oil or Gas serves as a legally binding agreement among participating property owners, facilitating the organized and efficient extraction of oil or gas resources while safeguarding the rights and interests of all parties involved.
