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.
The Hennepin Minnesota Amendment to Pooled Unit Designation is a legal provision that pertains to the process of designating and determining pooled units in the county of Hennepin, Minnesota. This amendment is part of the overall regulatory framework that governs the exploration and production of oil and gas resources in the region. The primary purpose of the Hennepin Minnesota Amendment to Pooled Unit Designation is to ensure efficient and comprehensive development of oil and gas assets, while also safeguarding the rights of landowners and promoting responsible resource extraction practices. It provides guidelines and regulations regarding the formation, modification, and dissolution of pooled units within the county. Here are a few key aspects concerning the Hennepin Minnesota Amendment to Pooled Unit Designation: 1. Formation: The amendment outlines the procedure for establishing pooled units in Hennepin County. It includes guidelines on the minimum acreage required for unitization, the process of voluntary pooling, and the conditions under which compulsory pooling may occur. The objective is to maximize the recovery of oil and gas resources while minimizing surface disturbance. 2. Modification: The amendment also addresses how pooled units may be modified or resized. It provides provisions for situations where additional acreage is leased or drilled within an existing unit, as well as circumstances where it becomes necessary to alter the boundaries of existing units to optimize resource extraction efficiently. 3. Dissolution: In some instances, it may be necessary to dissolve a pooled unit due to various operational or legal reasons. The Hennepin Minnesota Amendment to Pooled Unit Designation specifies the conditions under which a unit may be terminated, outlining the processes for notifying interested parties and distributing any remaining assets or costs associated with the unit. Different types of Hennepin Minnesota Amendment to Pooled Unit Designation may include specific provisions tailored to various types of oil and gas resources or geological formations found within the county. For instance, separate amendments might exist for unconventional resources like shale gas or tight oil, or for different geological formations such as limestone or sandstone reservoirs. These specific amendments would address unique technical considerations and extraction techniques associated with each resource type. In conclusion, the Hennepin Minnesota Amendment to Pooled Unit Designation is a legal provision that governs the formation, modification, and dissolution of pooled units in Hennepin County. It aims to facilitate responsible oil and gas development while safeguarding the interests of landowners and promoting efficient resource extraction practices.The Hennepin Minnesota Amendment to Pooled Unit Designation is a legal provision that pertains to the process of designating and determining pooled units in the county of Hennepin, Minnesota. This amendment is part of the overall regulatory framework that governs the exploration and production of oil and gas resources in the region. The primary purpose of the Hennepin Minnesota Amendment to Pooled Unit Designation is to ensure efficient and comprehensive development of oil and gas assets, while also safeguarding the rights of landowners and promoting responsible resource extraction practices. It provides guidelines and regulations regarding the formation, modification, and dissolution of pooled units within the county. Here are a few key aspects concerning the Hennepin Minnesota Amendment to Pooled Unit Designation: 1. Formation: The amendment outlines the procedure for establishing pooled units in Hennepin County. It includes guidelines on the minimum acreage required for unitization, the process of voluntary pooling, and the conditions under which compulsory pooling may occur. The objective is to maximize the recovery of oil and gas resources while minimizing surface disturbance. 2. Modification: The amendment also addresses how pooled units may be modified or resized. It provides provisions for situations where additional acreage is leased or drilled within an existing unit, as well as circumstances where it becomes necessary to alter the boundaries of existing units to optimize resource extraction efficiently. 3. Dissolution: In some instances, it may be necessary to dissolve a pooled unit due to various operational or legal reasons. The Hennepin Minnesota Amendment to Pooled Unit Designation specifies the conditions under which a unit may be terminated, outlining the processes for notifying interested parties and distributing any remaining assets or costs associated with the unit. Different types of Hennepin Minnesota Amendment to Pooled Unit Designation may include specific provisions tailored to various types of oil and gas resources or geological formations found within the county. For instance, separate amendments might exist for unconventional resources like shale gas or tight oil, or for different geological formations such as limestone or sandstone reservoirs. These specific amendments would address unique technical considerations and extraction techniques associated with each resource type. In conclusion, the Hennepin Minnesota Amendment to Pooled Unit Designation is a legal provision that governs the formation, modification, and dissolution of pooled units in Hennepin County. It aims to facilitate responsible oil and gas development while safeguarding the interests of landowners and promoting efficient resource extraction practices.
