This form is used when the Operator desires to amend the Designation of Pooled Unit, as permitted by the terms of the Leases included in the Unit, to (increase/reduce) the size of the Unit so that, on the Effective Date of this Amendment, the Unit will consist of a specific number of acres of land, which lands are to be depicted on a plat attached to this Amendment.
Franklin Ohio Amendment to Pooled Unit Designation refers to a legal provision that allows for modifications or alterations to the original unit designation within an oil and gas drilling pool in Franklin, Ohio. This amendment is typically implemented to address changes in requirements, advancements in drilling technology, or modifications in ownership within the respective drilling unit. The Franklin Ohio Amendment to Pooled Unit Designation may encompass various types, depending on the specific circumstances. Some potential variations may include: 1. Expansion Amendment: This type of amendment is enacted when there is a need to expand the boundaries of an existing drilling unit due to the discovery of additional mineral resources or to optimize production efficiency. 2. Partitioning Amendment: In certain situations, it may be necessary to divide an existing pooled unit into smaller sections, known as partitions, to accommodate changes in ownership or when multiple operators are involved. This amendment allows for the creation of new boundaries and unit designations for each partition. 3. Consolidation Amendment: A consolidation amendment is implemented when multiple drilling units within the same area need to be merged into a single unit. This could occur when the separate units have overlapping or adjacent boundaries, making it more efficient to streamline operations and resources. 4. Redetermination Amendment: This type of amendment is used to reassess and adjust the interests and ownership rights of the mineral owners within the pooled unit. It may be necessary to redistribute or reallocate the ownership percentages based on changes in production performance, lease agreements, or other factors outlined in the original unit designation. 5. Well Spacing Amendment: When advancements in drilling technology allow for increased spacing or additional wells within a pooled unit, a well spacing amendment can be implemented. This amendment adjusts the regulations regarding the number, location, or orientation of wells within the designated unit. 6. Miscellaneous Amendments: Other types of amendments may arise based on specific circumstances or needs. These could include amendments related to surface use agreements, unit boundary adjustments, leasehold assignments, working interest changes, or other provisions that require modifications to an existing pooled unit designation. Overall, the Franklin Ohio Amendment to Pooled Unit Designation provides flexibility to accommodate changes and improvements within the drilling industry. These amendments ensure that oil and gas operations in Franklin, Ohio can adapt to evolving circumstances, maximize production potential, and effectively manage ownership rights within pooled units.Franklin Ohio Amendment to Pooled Unit Designation refers to a legal provision that allows for modifications or alterations to the original unit designation within an oil and gas drilling pool in Franklin, Ohio. This amendment is typically implemented to address changes in requirements, advancements in drilling technology, or modifications in ownership within the respective drilling unit. The Franklin Ohio Amendment to Pooled Unit Designation may encompass various types, depending on the specific circumstances. Some potential variations may include: 1. Expansion Amendment: This type of amendment is enacted when there is a need to expand the boundaries of an existing drilling unit due to the discovery of additional mineral resources or to optimize production efficiency. 2. Partitioning Amendment: In certain situations, it may be necessary to divide an existing pooled unit into smaller sections, known as partitions, to accommodate changes in ownership or when multiple operators are involved. This amendment allows for the creation of new boundaries and unit designations for each partition. 3. Consolidation Amendment: A consolidation amendment is implemented when multiple drilling units within the same area need to be merged into a single unit. This could occur when the separate units have overlapping or adjacent boundaries, making it more efficient to streamline operations and resources. 4. Redetermination Amendment: This type of amendment is used to reassess and adjust the interests and ownership rights of the mineral owners within the pooled unit. It may be necessary to redistribute or reallocate the ownership percentages based on changes in production performance, lease agreements, or other factors outlined in the original unit designation. 5. Well Spacing Amendment: When advancements in drilling technology allow for increased spacing or additional wells within a pooled unit, a well spacing amendment can be implemented. This amendment adjusts the regulations regarding the number, location, or orientation of wells within the designated unit. 6. Miscellaneous Amendments: Other types of amendments may arise based on specific circumstances or needs. These could include amendments related to surface use agreements, unit boundary adjustments, leasehold assignments, working interest changes, or other provisions that require modifications to an existing pooled unit designation. Overall, the Franklin Ohio Amendment to Pooled Unit Designation provides flexibility to accommodate changes and improvements within the drilling industry. These amendments ensure that oil and gas operations in Franklin, Ohio can adapt to evolving circumstances, maximize production potential, and effectively manage ownership rights within pooled units.
