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 Houston Texas Amendment to Pooled Unit Designation is a legal document that pertains to the consolidation and modification of oil and gas properties within a designated area in the city of Houston, Texas. This amendment serves to facilitate the efficient extraction, development, and management of natural resources in the region. The primary objective of the Houston Texas Amendment to Pooled Unit Designation is to redefine and modify the boundaries of existing pooled units to better align with the geological characteristics and productive formations of the area. This allows for optimal resource extraction and mitigates conflicting interests among neighboring properties. Some different types of Houston Texas Amendment to Pooled Unit Designation may include: 1. Boundary Modification: This type of amendment focuses on adjusting the boundaries of existing pooled units to incorporate additional areas that exhibit potential for oil and gas production. The amendment outlines the specific adjustments and the rationale behind these modifications. 2. Unit Consolidation: This type of amendment aims to combine multiple small pooled units into larger, more efficient units. By consolidating units, operators can streamline operations, reduce costs, and enhance overall productivity. 3. Unit Splitting: In contrast to unit consolidation, this type of amendment involves dividing larger pooled units into smaller, more manageable units. This may be done to better accommodate different production methodologies and optimize the recovery of reserves in specific sections of the unit. 4. Unit Reshuffling: This type of amendment focuses on redistributing existing acreage within a pooled unit. It may involve reassigning working interests, royalties, or other resource rights to different parties, ensuring a fair and equitable distribution of benefits. 5. Unit Well age Adjustment: This type of amendment may address the reallocation or modification of well locations within a pooled unit. It allows operators to optimize well placement to maximize production and reduce operational risks. The Houston Texas Amendment to Pooled Unit Designation is a crucial instrument for the oil and gas industry in ensuring efficient resource extraction, promoting fair distribution of benefits, and minimizing conflicts among producers. Through these amendments, operators can adapt to evolving geological understanding and technological advancements to optimize energy production in Houston, Texas.
