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.
Travis 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, refers to a contractual agreement between multiple owners of an oil or gas well in Travis County, Texas. This agreement allows the co-owners to combine or commingle the production from different formations within the same well bore, despite variations in leasehold ownership based on the depth of the formations. Such agreements are essential in areas where multiple parties have ownership rights to the same well, and each co-owner holds different leasehold interests at various depths. The purpose behind a Travis Texas Commingling Agreement is to ensure efficient and cost-effective production by enabling the co-owners to extract oil or gas from multiple formations through a single well bore. By commingling the production, the different formations can be efficiently drained without the need for separate wells, reducing operational costs and avoiding unnecessary duplication. This arrangement is particularly beneficial in situations where various formations within the same well bore exhibit productive potential, and all working owners wish to capitalize on the combined production. The Travis Texas Commingling Agreement among working owners typically establishes guidelines for the apportionment of production from different formations, addressing issues like sharing of costs, royalties, operational responsibilities, and accounting procedures. These agreements also define the ownership percentages of each co-owner and establish mechanisms for the resolution of disputes or conflicts that may arise during production or distribution. Key factors and keywords to consider for this topic: 1. Travis Texas 2. Commingling agreement 3. Working owners 4. Production from different formations 5. Same well bore 6. Leasehold ownership 7. Variation in ownership depth 8. Oil and gas industry 9. Cost-effective production 10. Operational efficiency 11. Duplication avoidance 12. Resource drainage 13. Production apportionment 14. Shared costs 15. Royalties 16. Operational responsibilities 17. Accounting procedures 18. Dispute resolution Different types of Travis Texas Commingling Agreements among working owners can include variations such as: 1. Travis Texas Commingling Agreement — Vertical Leasehold Ownership Variation: This agreement focuses on co-owners with varying leasehold interests that differ vertically or at different depth levels within the same well bore. 2. Travis Texas Commingling Agreement — Horizontal Leasehold Ownership Variation: This agreement pertains to co-owners with varying leasehold interests that differ horizontally, meaning the leasehold ownership varies as the well bore progresses along the formation. 3. Travis Texas Commingling Agreement — Vertical and Horizontal Leasehold Ownership Variation: This type of agreement addresses cases where leasehold ownership varies both vertically and horizontally, requiring a comprehensive approach to production commingling between co-owners. 4. Travis Texas Commingling Agreement — Formation-Specific Ownership Variation: This agreement considers co-owners with specific leasehold interest variations depending on the targeted formations, allowing for distinct ownership rules and production allocation based on the formation being exploited.Travis 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, refers to a contractual agreement between multiple owners of an oil or gas well in Travis County, Texas. This agreement allows the co-owners to combine or commingle the production from different formations within the same well bore, despite variations in leasehold ownership based on the depth of the formations. Such agreements are essential in areas where multiple parties have ownership rights to the same well, and each co-owner holds different leasehold interests at various depths. The purpose behind a Travis Texas Commingling Agreement is to ensure efficient and cost-effective production by enabling the co-owners to extract oil or gas from multiple formations through a single well bore. By commingling the production, the different formations can be efficiently drained without the need for separate wells, reducing operational costs and avoiding unnecessary duplication. This arrangement is particularly beneficial in situations where various formations within the same well bore exhibit productive potential, and all working owners wish to capitalize on the combined production. The Travis Texas Commingling Agreement among working owners typically establishes guidelines for the apportionment of production from different formations, addressing issues like sharing of costs, royalties, operational responsibilities, and accounting procedures. These agreements also define the ownership percentages of each co-owner and establish mechanisms for the resolution of disputes or conflicts that may arise during production or distribution. Key factors and keywords to consider for this topic: 1. Travis Texas 2. Commingling agreement 3. Working owners 4. Production from different formations 5. Same well bore 6. Leasehold ownership 7. Variation in ownership depth 8. Oil and gas industry 9. Cost-effective production 10. Operational efficiency 11. Duplication avoidance 12. Resource drainage 13. Production apportionment 14. Shared costs 15. Royalties 16. Operational responsibilities 17. Accounting procedures 18. Dispute resolution Different types of Travis Texas Commingling Agreements among working owners can include variations such as: 1. Travis Texas Commingling Agreement — Vertical Leasehold Ownership Variation: This agreement focuses on co-owners with varying leasehold interests that differ vertically or at different depth levels within the same well bore. 2. Travis Texas Commingling Agreement — Horizontal Leasehold Ownership Variation: This agreement pertains to co-owners with varying leasehold interests that differ horizontally, meaning the leasehold ownership varies as the well bore progresses along the formation. 3. Travis Texas Commingling Agreement — Vertical and Horizontal Leasehold Ownership Variation: This type of agreement addresses cases where leasehold ownership varies both vertically and horizontally, requiring a comprehensive approach to production commingling between co-owners. 4. Travis Texas Commingling Agreement — Formation-Specific Ownership Variation: This agreement considers co-owners with specific leasehold interest variations depending on the targeted formations, allowing for distinct ownership rules and production allocation based on the formation being exploited.
