This form is used when the parties own undivided leasehold interests in the Lease as to depths from the surface of the ground to a Specific Depth. The parties acknowledge that the production from a well on the leasehold interest will be obtained from depths in which the ownership is not common. Thus, the parties find it necessary to enter into this Agreement to enable the parties to each be paid a proportionate part of the commingled production from the separate depths in which they own interests.
A Harris Texas commingling agreement among working owners as to production from different formations out of the same well bore, where leasehold ownership varies as to depth, is a legal document that governs the extraction and distribution of oil or gas resources from multiple geological formations within a single well bore. This type of agreement is necessary when multiple leaseholders or working interest owners have overlapping rights to different depths or formations within a specific well. The purpose of this agreement is to establish the rights, responsibilities, and profit-sharing arrangements between the parties involved. By defining these terms, it helps mitigate potential disputes and ensures an efficient and fair operation. Keywords: Harris Texas, commingling agreement, working owners, production, different formations, same well bore, leasehold ownership, variation, depth. Different types of Harris Texas commingling agreements among working owners as to production from different formations out of the same well bore, where leasehold ownership varies as to depth, may include: 1. Depth-based Commingling Agreement: This agreement specifically addresses the variation of leasehold ownership based on depth. It outlines the specific rights and ownership interests at different vertical intervals within the well bore. 2. Formation-specific Commingling Agreement: This agreement focuses on the extraction and production from different geological formations within the same well bore. It details the ownership rights, responsibilities, and profit-sharing arrangements for each specific formation. 3. Joint Operating Agreement (JOB): A JOB is a comprehensive agreement that governs the joint exploration, development, and production activities among working interest owners. It can also include provisions related to commingling production from various formations within the same well bore, accommodating the variation of leasehold ownership as to depth. 4. Pooling Agreement: In cases where leasehold ownership need to be combined or pooled together to maximize production efficiency, a pooling agreement may be used. This agreement brings together multiple leaseholders or working interest owners to collectively exploit the resources from different formations within the same well bore, considering the varying depth-based ownership. These are some potential types of commingling agreements that may be used in Harris Texas when multiple working owners seek to produce from different formations out of the same well bore, where leasehold ownership varies as to depth. The specific terms and provisions within such agreements may vary based on the unique circumstances and requirements of the parties involved.A Harris Texas commingling agreement among working owners as to production from different formations out of the same well bore, where leasehold ownership varies as to depth, is a legal document that governs the extraction and distribution of oil or gas resources from multiple geological formations within a single well bore. This type of agreement is necessary when multiple leaseholders or working interest owners have overlapping rights to different depths or formations within a specific well. The purpose of this agreement is to establish the rights, responsibilities, and profit-sharing arrangements between the parties involved. By defining these terms, it helps mitigate potential disputes and ensures an efficient and fair operation. Keywords: Harris Texas, commingling agreement, working owners, production, different formations, same well bore, leasehold ownership, variation, depth. Different types of Harris Texas commingling agreements among working owners as to production from different formations out of the same well bore, where leasehold ownership varies as to depth, may include: 1. Depth-based Commingling Agreement: This agreement specifically addresses the variation of leasehold ownership based on depth. It outlines the specific rights and ownership interests at different vertical intervals within the well bore. 2. Formation-specific Commingling Agreement: This agreement focuses on the extraction and production from different geological formations within the same well bore. It details the ownership rights, responsibilities, and profit-sharing arrangements for each specific formation. 3. Joint Operating Agreement (JOB): A JOB is a comprehensive agreement that governs the joint exploration, development, and production activities among working interest owners. It can also include provisions related to commingling production from various formations within the same well bore, accommodating the variation of leasehold ownership as to depth. 4. Pooling Agreement: In cases where leasehold ownership need to be combined or pooled together to maximize production efficiency, a pooling agreement may be used. This agreement brings together multiple leaseholders or working interest owners to collectively exploit the resources from different formations within the same well bore, considering the varying depth-based ownership. These are some potential types of commingling agreements that may be used in Harris Texas when multiple working owners seek to produce from different formations out of the same well bore, where leasehold ownership varies as to depth. The specific terms and provisions within such agreements may vary based on the unique circumstances and requirements of the parties involved.
