This form creates an Area of Mutual Interest ( AMI ) comprising the Contract Area. During the term of this AMI, if any Party acquires all or any interest in any Oil and Gas Leases, any mineral interest, or any farmouts or other contracts which affect lands and minerals lying within the AMI, the Acquiring Party shall promptly advise each of the other Parties of the acquisition, at which time each Offeree shall have the right to acquire its proportionate interest in the Oil and Gas Interest.
Wisconsin Area of Mutual Interest (AMI) is a term commonly used in the oil and gas industry to describe a specific geographic area where multiple leaseholders or operators have overlapping or adjacent leases or interests. These areas are typically defined by regulatory bodies to promote the efficient exploration and development of hydrocarbon resources within a specific region. In Wisconsin, there are several types of AMIS that may be designated based on the nature of the resources or the specific location. Here are some of the commonly known Wisconsin AMIS: 1. Marcellus Shale AMI: This AMI refers to the area in Wisconsin that is known to have significant reserves of natural gas trapped within the Marcellus Shale formation. Operators are interested in collaborating within this AMI to optimize drilling, production, and infrastructure development activities. 2. Utica Shale AMI: Similar to the Marcellus Shale AMI, the Utica Shale AMI denotes the area with substantial deposits of oil and natural gas within the Utica Shale formation. Operators within this AMI work together to maximize the extraction and utilization of these resources. 3. Eagle Ford Shale AMI: The Eagle Ford Shale AMI designates the region in Wisconsin where the Eagle Ford Shale formation is found. This AMI attracts operators seeking to explore and produce oil and gas from this prolific shale formation. 4. Taken Formation AMI: This AMI encompasses the region in Wisconsin where the Taken Formation, renowned for its significant oil reserves, is situated. Operators collaborate in this AMI to capitalize on the extraction potential of the Taken Formation. 5. Permian Basin AMI: Although not located entirely in Wisconsin, the Permian Basin AMI extends into the state. This AMI is one of the most significant oil-producing regions in the United States, covering parts of Texas and New Mexico. Operators who work within the Wisconsin portion of the Permian Basin AMI cooperate to optimize production activities and infrastructure development. AMI designations aim to streamline decision-making processes, reduce conflicts, and encourage the sharing of technical data and best practices among operators within a specific region. Collaboration within AMIS often leads to more efficient resource exploration, extraction, and development, benefiting both operators and the local communities.
