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.
Nassau County, located in the state of New York, implements a specific type of Commingling Agreement Among Working Owners As to Production from Different Formations Out of the Same Well Bore, Where Leasehold Ownership Varies As to Depth. This agreement is crucial for oil and gas operations that involve multiple working owners with varying depth rights. By defining and regulating the commingling process, this agreement ensures efficient and fair production practices. The Nassau New York Commingling Agreement aims to establish a standardized framework in which owners of different leasehold depths can effectively extract resources from the same well bore. This agreement allows for the commingling of production from different geological formations while respecting the differing ownership rights based on depth. The primary objective of this agreement is to avoid unnecessary duplication of wells and infrastructure, thus reducing costs and minimizing environmental impact. It enables efficient utilization of resources by allowing multiple formations of oil and gas to be effectively accessed through a single well. To facilitate the implementation of this agreement, different types of Nassau New York Commingling Agreements are formulated based on the specific formations involved. These agreements may include provisions for commingling production from formations such as shale, limestone, sandstone, or other relevant geological formations. Each type of agreement takes into account the varying leasehold ownership rights as to depth, ensuring that owners are fairly compensated according to their specific depths. The agreement outlines a robust system for tracking and allocating the production from each formation, incorporating mechanisms such as meters or well logging technologies to accurately measure and record the amounts extracted. This comprehensive agreement also addresses liability and responsibility among the working owners, defining the roles and obligations of each party involved. It establishes clear guidelines for the maintenance, operation, and supervision of the well bore, ensuring safe and compliant extraction practices. In conclusion, the Nassau New York 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 vital legal framework that promotes collaboration and efficient resource extraction in Nassau County. By allowing multiple owners with different leasehold depths to commingle production from various formations, this agreement streamlines operations and maximizes the potential of oil and gas reserves.Nassau County, located in the state of New York, implements a specific type of Commingling Agreement Among Working Owners As to Production from Different Formations Out of the Same Well Bore, Where Leasehold Ownership Varies As to Depth. This agreement is crucial for oil and gas operations that involve multiple working owners with varying depth rights. By defining and regulating the commingling process, this agreement ensures efficient and fair production practices. The Nassau New York Commingling Agreement aims to establish a standardized framework in which owners of different leasehold depths can effectively extract resources from the same well bore. This agreement allows for the commingling of production from different geological formations while respecting the differing ownership rights based on depth. The primary objective of this agreement is to avoid unnecessary duplication of wells and infrastructure, thus reducing costs and minimizing environmental impact. It enables efficient utilization of resources by allowing multiple formations of oil and gas to be effectively accessed through a single well. To facilitate the implementation of this agreement, different types of Nassau New York Commingling Agreements are formulated based on the specific formations involved. These agreements may include provisions for commingling production from formations such as shale, limestone, sandstone, or other relevant geological formations. Each type of agreement takes into account the varying leasehold ownership rights as to depth, ensuring that owners are fairly compensated according to their specific depths. The agreement outlines a robust system for tracking and allocating the production from each formation, incorporating mechanisms such as meters or well logging technologies to accurately measure and record the amounts extracted. This comprehensive agreement also addresses liability and responsibility among the working owners, defining the roles and obligations of each party involved. It establishes clear guidelines for the maintenance, operation, and supervision of the well bore, ensuring safe and compliant extraction practices. In conclusion, the Nassau New York 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 vital legal framework that promotes collaboration and efficient resource extraction in Nassau County. By allowing multiple owners with different leasehold depths to commingle production from various formations, this agreement streamlines operations and maximizes the potential of oil and gas reserves.
