This form is a Texas 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 Austin Texas Producers 88 (8/99) Paid Up Lease Pooling Provision is a legal agreement that allows multiple parties to combine their oil and gas leases into a single unit for exploration and production purposes. This pooling provision is specific to Austin, Texas and is commonly used by producers in the area. The pooling provision is designed to maximize the efficiency of oil and gas operations by consolidating multiple leases. It is typically utilized when individual leases are too small to be economically viable or when the geology of the area suggests that pooling the leases will enhance overall production. The provision is referred to as "Producers 88 (8/99)" due to its association with the Standard Form 88 (8/99) lease agreement, which is the standard lease document used in Austin, Texas. The "88" refers to the year the form was first introduced (1988) and the "(8/99)" refers to the month and year of the most recent revision (August 1999). There may be different types of the Austin Texas Producers 88 (8/99) Paid Up Lease Pooling Provision, depending on the specific terms and conditions agreed upon by the parties involved. Some common variations of the provision include: 1. Voluntary Pooling: This type of pooling provision occurs when the parties agree to combine their leases voluntarily. It is typically done to increase production efficiency and reduce costs. 2. Compulsory Pooling: In certain situations, the operator or leaseholder may have the authority to force unwilling parties to combine their leases. This is known as compulsory pooling and is usually done when a significant number of leases in a particular area are held by different parties, hindering efficient development. 3. Unitization Pooling: This type of pooling provision involves the integration of multiple leases within a specific unit or area. It allows for a coordinated development plan and the sharing of costs, risks, and profits. Unitization pooling is often used to exploit a specific oil or gas reservoir that spans across multiple leases. Each type of pooling provision has its own set of rules and regulations that dictate how the leases are combined, how costs and profits are shared, and how operations are managed. These provisions aim to ensure fair and equitable treatment of all parties involved while maximizing the overall productivity of the oil and gas reserves in Austin, Texas.The Austin Texas Producers 88 (8/99) Paid Up Lease Pooling Provision is a legal agreement that allows multiple parties to combine their oil and gas leases into a single unit for exploration and production purposes. This pooling provision is specific to Austin, Texas and is commonly used by producers in the area. The pooling provision is designed to maximize the efficiency of oil and gas operations by consolidating multiple leases. It is typically utilized when individual leases are too small to be economically viable or when the geology of the area suggests that pooling the leases will enhance overall production. The provision is referred to as "Producers 88 (8/99)" due to its association with the Standard Form 88 (8/99) lease agreement, which is the standard lease document used in Austin, Texas. The "88" refers to the year the form was first introduced (1988) and the "(8/99)" refers to the month and year of the most recent revision (August 1999). There may be different types of the Austin Texas Producers 88 (8/99) Paid Up Lease Pooling Provision, depending on the specific terms and conditions agreed upon by the parties involved. Some common variations of the provision include: 1. Voluntary Pooling: This type of pooling provision occurs when the parties agree to combine their leases voluntarily. It is typically done to increase production efficiency and reduce costs. 2. Compulsory Pooling: In certain situations, the operator or leaseholder may have the authority to force unwilling parties to combine their leases. This is known as compulsory pooling and is usually done when a significant number of leases in a particular area are held by different parties, hindering efficient development. 3. Unitization Pooling: This type of pooling provision involves the integration of multiple leases within a specific unit or area. It allows for a coordinated development plan and the sharing of costs, risks, and profits. Unitization pooling is often used to exploit a specific oil or gas reservoir that spans across multiple leases. Each type of pooling provision has its own set of rules and regulations that dictate how the leases are combined, how costs and profits are shared, and how operations are managed. These provisions aim to ensure fair and equitable treatment of all parties involved while maximizing the overall productivity of the oil and gas reserves in Austin, Texas.
