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 San Jose, California commingling agreement among working owners is a legal contract that addresses the joint production of oil and gas from separate rock formations accessed through a single well bore. It specifically applies to situations where the ownership of leasehold interests varies based on depth levels. In the oil and gas industry, different formations may hold varying amounts of oil and gas reserves. To maximize production and operational efficiency, operators may seek to combine the output from multiple formations within the same well bore. However, since leasehold ownership often differs based on depth, a commingling agreement becomes necessary to establish the rights, responsibilities, and distribution of proceeds among the working owners involved. Keywords: San Jose, California, commingling agreement, working owners, production, different formations, same well bore, leasehold ownership, depth, oil and gas reserves, operational efficiency, rights, responsibilities, distribution of proceeds. There aren't necessarily different types of San Jose, California commingling agreements among working owners as the concept remains the same across various scenarios. However, the terms and conditions within these agreements may differ depending on the specific geological formations, ownership interests, and operating practices involved.A San Jose, California commingling agreement among working owners is a legal contract that addresses the joint production of oil and gas from separate rock formations accessed through a single well bore. It specifically applies to situations where the ownership of leasehold interests varies based on depth levels. In the oil and gas industry, different formations may hold varying amounts of oil and gas reserves. To maximize production and operational efficiency, operators may seek to combine the output from multiple formations within the same well bore. However, since leasehold ownership often differs based on depth, a commingling agreement becomes necessary to establish the rights, responsibilities, and distribution of proceeds among the working owners involved. Keywords: San Jose, California, commingling agreement, working owners, production, different formations, same well bore, leasehold ownership, depth, oil and gas reserves, operational efficiency, rights, responsibilities, distribution of proceeds. There aren't necessarily different types of San Jose, California commingling agreements among working owners as the concept remains the same across various scenarios. However, the terms and conditions within these agreements may differ depending on the specific geological formations, ownership interests, and operating practices involved.
