This form is a New Mexico Lease agreement wherein Lessor grants, leases, and lets exclusively to Lessee the lands described within for the purposes of conducting seismic and geophysical operations, exploring, drilling, mining, and operating for, producing and owning oil, gas, sulfur, and all other minerals whether or not similar to those mentioned (collectively the oil or gas ), and the right to make surveys, lay pipelines, establish and utilize facilities for surface or subsurface disposal of salt water, construct roads and bridges, dig canals, build tanks, power stations, power lines, telephone lines, and other structures on the Lands, necessary or useful in Lessee's operations on the Lands or any other land adjacent to the Lands. This lease is a paid up lease and provides for pooling.
The Albuquerque New Mexico Producers 88 Paid Up Lease Pooling Provision is a crucial aspect of oil and gas exploration and production in the region. This provision allows multiple oil and gas leaseholders within the Producers 88 Unit to join their interests and consolidate their resources for more efficient development and extraction operations. In the context of the Albuquerque, New Mexico area, the Producers 88 Paid Up Lease Pooling Provision is widely utilized by both large and small-scale energy companies. This provision permits lease owners to combine their respective leasehold interests, creating a unit or pool of leases that can be jointly developed, operated, and produced. By pooling their interests, leaseholders can maximize the economic viability of their operations by mitigating risks and optimizing the recovery of oil and gas resources. This collaboration also minimizes surface disturbances as multiple leaseholders can coordinate their activities, reducing the overall footprint of operations and minimizing environmental impacts. It is important to note that the Producers 88 Paid Up Lease Pooling Provision may have different variations or types based on specific terms and conditions defined by each lease agreement. These variations may include: 1. Voluntary Pooling: Leaseholders willingly combine their interests to form a pool for joint extraction and development operations. This type of pooling provision requires the mutual consent of all parties involved. 2. Compulsory Pooling: In some cases, the pooling provision may include provisions for compulsory pooling, where leaseholders who do not voluntarily join the pool can still be included through legal procedures. This ensures the efficient utilization of resources and promotes fair compensation for all stakeholders. 3. Acreage Sharing: Some pooling provisions may require leaseholders to contribute a specific portion of their leasehold acreage to the pool. This enables equitable sharing of resources and minimizes disparities between leaseholders with varying lease sizes. 4. Cost and Revenue Sharing: Pooling agreements often include provisions for sharing the costs associated with exploration, development, and operation activities among leaseholders in proportion to their respective interests. Similarly, revenues generated from oil and gas production are distributed based on each party's share in the pool. 5. Operator Designation: The pooling provision may outline the process of designating an operator responsible for managing the consolidated operations, including drilling, production, and overall management of the pooled leases. The operator is typically chosen based on their technical expertise and financial capabilities. Overall, the Albuquerque New Mexico Producers 88 Paid Up Lease Pooling Provision facilitates collaboration among leaseholders, maximizing resource recovery, minimizing costs, and promoting responsible and efficient exploration and production activities in the region.The Albuquerque New Mexico Producers 88 Paid Up Lease Pooling Provision is a crucial aspect of oil and gas exploration and production in the region. This provision allows multiple oil and gas leaseholders within the Producers 88 Unit to join their interests and consolidate their resources for more efficient development and extraction operations. In the context of the Albuquerque, New Mexico area, the Producers 88 Paid Up Lease Pooling Provision is widely utilized by both large and small-scale energy companies. This provision permits lease owners to combine their respective leasehold interests, creating a unit or pool of leases that can be jointly developed, operated, and produced. By pooling their interests, leaseholders can maximize the economic viability of their operations by mitigating risks and optimizing the recovery of oil and gas resources. This collaboration also minimizes surface disturbances as multiple leaseholders can coordinate their activities, reducing the overall footprint of operations and minimizing environmental impacts. It is important to note that the Producers 88 Paid Up Lease Pooling Provision may have different variations or types based on specific terms and conditions defined by each lease agreement. These variations may include: 1. Voluntary Pooling: Leaseholders willingly combine their interests to form a pool for joint extraction and development operations. This type of pooling provision requires the mutual consent of all parties involved. 2. Compulsory Pooling: In some cases, the pooling provision may include provisions for compulsory pooling, where leaseholders who do not voluntarily join the pool can still be included through legal procedures. This ensures the efficient utilization of resources and promotes fair compensation for all stakeholders. 3. Acreage Sharing: Some pooling provisions may require leaseholders to contribute a specific portion of their leasehold acreage to the pool. This enables equitable sharing of resources and minimizes disparities between leaseholders with varying lease sizes. 4. Cost and Revenue Sharing: Pooling agreements often include provisions for sharing the costs associated with exploration, development, and operation activities among leaseholders in proportion to their respective interests. Similarly, revenues generated from oil and gas production are distributed based on each party's share in the pool. 5. Operator Designation: The pooling provision may outline the process of designating an operator responsible for managing the consolidated operations, including drilling, production, and overall management of the pooled leases. The operator is typically chosen based on their technical expertise and financial capabilities. Overall, the Albuquerque New Mexico Producers 88 Paid Up Lease Pooling Provision facilitates collaboration among leaseholders, maximizing resource recovery, minimizing costs, and promoting responsible and efficient exploration and production activities in the region.
