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 Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision is a specific type of leasing arrangement designed for oil and gas exploration and production in the Killeen, Texas area. This provision allows multiple adjacent leaseholders to combine their interests and resources to create a unified drilling and production operation. Under this pooling provision, leaseholders are required to fulfill certain criteria, such as having a paid-up lease and meeting specific acreage and unitization requirements. By pooling their resources, leaseholders can collectively contribute to the drilling and production costs, reducing individual financial burdens and increasing the efficiency of operations. There are several types of Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provisions that may be categorized based on various factors. These types include: 1. Voluntary Pooling: This type of pooling provision is initiated by leaseholders who mutually agree to combine their interests for better operational efficiency and cost-sharing benefits. 2. Compulsory Pooling: In certain circumstances, the Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision allows for compulsory pooling. This occurs when a leaseholder refuses or fails to participate in the pooling arrangement, and the operator seeks the intervention of the regulatory authority to forcibly pool their resources. 3. Horizontal Pooling: This variant of the pooling provision specifically pertains to horizontally drilled wells. It enables leaseholders to combine their acreage and interests in a common reservoir to optimize production and maximize recovery. 4. Vertical Pooling: Vertical pooling provisions focus on vertically drilled wells. It allows leaseholders to share costs, risks, and production from a vertical well, rather than drill multiple individual wells. 5. Pooling by Formation: This type of pooling provision is based on the geological formation of the oil or gas reservoir. Leaseholders with interests in the same formation can pool their assets to collectively exploit the reserves. The Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision offers numerous benefits to leaseholders, such as reduced costs, improved operational efficiency, and increased production potential. Understanding the different types of pooling provisions helps leaseholders and operators devise customized strategies to optimize resource utilization and maximize returns.The Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision is a specific type of leasing arrangement designed for oil and gas exploration and production in the Killeen, Texas area. This provision allows multiple adjacent leaseholders to combine their interests and resources to create a unified drilling and production operation. Under this pooling provision, leaseholders are required to fulfill certain criteria, such as having a paid-up lease and meeting specific acreage and unitization requirements. By pooling their resources, leaseholders can collectively contribute to the drilling and production costs, reducing individual financial burdens and increasing the efficiency of operations. There are several types of Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provisions that may be categorized based on various factors. These types include: 1. Voluntary Pooling: This type of pooling provision is initiated by leaseholders who mutually agree to combine their interests for better operational efficiency and cost-sharing benefits. 2. Compulsory Pooling: In certain circumstances, the Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision allows for compulsory pooling. This occurs when a leaseholder refuses or fails to participate in the pooling arrangement, and the operator seeks the intervention of the regulatory authority to forcibly pool their resources. 3. Horizontal Pooling: This variant of the pooling provision specifically pertains to horizontally drilled wells. It enables leaseholders to combine their acreage and interests in a common reservoir to optimize production and maximize recovery. 4. Vertical Pooling: Vertical pooling provisions focus on vertically drilled wells. It allows leaseholders to share costs, risks, and production from a vertical well, rather than drill multiple individual wells. 5. Pooling by Formation: This type of pooling provision is based on the geological formation of the oil or gas reservoir. Leaseholders with interests in the same formation can pool their assets to collectively exploit the reserves. The Killeen Texas Producers 88 (8/99) Paid Up Lease Pooling Provision offers numerous benefits to leaseholders, such as reduced costs, improved operational efficiency, and increased production potential. Understanding the different types of pooling provisions helps leaseholders and operators devise customized strategies to optimize resource utilization and maximize returns.
