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 King Washington Amendment to Pooled Unit Designation is a legal provision that pertains to the division and management of oil and gas resources within a specific geographic area. It is primarily concerned with defining the boundaries and composition of pooled units, which are consolidated land tracts or portions within an oil or gas reservoir. Pooled units are established to efficiently extract hydrocarbon reserves and ensure optimal resource recovery. The King Washington Amendment provides guidelines for designating these units, taking into account factors such as geology, well spacing, and the distribution of mineral rights. It is crucial to effectively manage the development of oil and gas fields to prevent waste and safeguard the interests of all parties involved. Keywords: King Washington, Amendment, Pooled Unit Designation, oil and gas resources, geographic area, consolidation, land tracts, hydrocarbon reserves, resource recovery, geology, well spacing, mineral rights, development, waste prevention, interests. Different types of King Washington Amendments to Pooled Unit Designation may include variations based on the specific geographic region or regulatory jurisdiction. Examples could be "King Washington Amendment for Offshore Pooled Unit Designation," "King Washington Amendment for Onshore Pooled Unit Designation," or "King Washington Amendment for Deepwater Pooled Unit Designation." These types of designations address the unique considerations and challenges associated with different environments or geological formations. Each type aims to create a framework that ensures efficient and sustainable resource development while promoting fair allocation of resources.The King Washington Amendment to Pooled Unit Designation is a legal provision that pertains to the division and management of oil and gas resources within a specific geographic area. It is primarily concerned with defining the boundaries and composition of pooled units, which are consolidated land tracts or portions within an oil or gas reservoir. Pooled units are established to efficiently extract hydrocarbon reserves and ensure optimal resource recovery. The King Washington Amendment provides guidelines for designating these units, taking into account factors such as geology, well spacing, and the distribution of mineral rights. It is crucial to effectively manage the development of oil and gas fields to prevent waste and safeguard the interests of all parties involved. Keywords: King Washington, Amendment, Pooled Unit Designation, oil and gas resources, geographic area, consolidation, land tracts, hydrocarbon reserves, resource recovery, geology, well spacing, mineral rights, development, waste prevention, interests. Different types of King Washington Amendments to Pooled Unit Designation may include variations based on the specific geographic region or regulatory jurisdiction. Examples could be "King Washington Amendment for Offshore Pooled Unit Designation," "King Washington Amendment for Onshore Pooled Unit Designation," or "King Washington Amendment for Deepwater Pooled Unit Designation." These types of designations address the unique considerations and challenges associated with different environments or geological formations. Each type aims to create a framework that ensures efficient and sustainable resource development while promoting fair allocation of resources.
