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 Tarrant Texas Amendment to Pooled Unit Designation is a legal provision that pertains to the management and consolidation of oil and gas operations within Tarrant County, Texas. This amendment aims to regulate the exploration and production activities conducted by oil and gas companies in the area, ensuring efficient and effective resource extraction while safeguarding the interests of landowners and the environment. The amendment enables the Tarrant County authorities to designate and revise pooled units, which are specific geographic areas where multiple oil and gas leases can be consolidated into a single operational unit. This consolidation optimizes resource extraction by allowing operators to drill, produce, and maintain wells more efficiently. By pooling multiple leases together, this amendment allows small and fragmented tracts of land to collectively benefit from hydrocarbon extraction, giving landowners the opportunity to obtain royalties from operations that would otherwise be unfeasible on their individual parcels. This fosters fair economic distribution and facilitates cooperative exploration and production ventures. There are various types of Tarrant Texas Amendments to Pooled Unit Designation, each tailored to address different scenarios or industry requirements. Some common types include: 1. Area Expansion Amendments: These amendments focus on expanding the boundaries of existing pooled units to incorporate additional leases or untapped areas. This accommodates increased exploration potential or responds to new discoveries that warrant enlargement of the unit. 2. Unit Modification Amendments: These amendments are filed to modify or update the existing terms and conditions of a pooled unit designation. They may involve adjustments to the size of the unit, changes to the allocation of costs and royalties among participating leaseholders, or revisions to drilling and production schedules. 3. Pooled Unit Termination Amendments: When a pooled unit reaches the end of its economic life or when circumstances dictate, termination amendments are filed to dissolve the unit. This allows participating leaseholders to resume independent operation of their respective leases. 4. Enhanced Recovery Project Amendments: These amendments facilitate the implementation of enhanced recovery techniques, such as water flooding or gas injection, in order to maximize hydrocarbon recovery from existing wells within a pooled unit. This helps to revitalize aging oilfields and prolong their productive lifespan. Overall, the Tarrant Texas Amendment to Pooled Unit Designation plays a crucial role in managing oil and gas operations, promoting collaboration among industry stakeholders, and balancing economic and environmental considerations in Tarrant County, Texas.The Tarrant Texas Amendment to Pooled Unit Designation is a legal provision that pertains to the management and consolidation of oil and gas operations within Tarrant County, Texas. This amendment aims to regulate the exploration and production activities conducted by oil and gas companies in the area, ensuring efficient and effective resource extraction while safeguarding the interests of landowners and the environment. The amendment enables the Tarrant County authorities to designate and revise pooled units, which are specific geographic areas where multiple oil and gas leases can be consolidated into a single operational unit. This consolidation optimizes resource extraction by allowing operators to drill, produce, and maintain wells more efficiently. By pooling multiple leases together, this amendment allows small and fragmented tracts of land to collectively benefit from hydrocarbon extraction, giving landowners the opportunity to obtain royalties from operations that would otherwise be unfeasible on their individual parcels. This fosters fair economic distribution and facilitates cooperative exploration and production ventures. There are various types of Tarrant Texas Amendments to Pooled Unit Designation, each tailored to address different scenarios or industry requirements. Some common types include: 1. Area Expansion Amendments: These amendments focus on expanding the boundaries of existing pooled units to incorporate additional leases or untapped areas. This accommodates increased exploration potential or responds to new discoveries that warrant enlargement of the unit. 2. Unit Modification Amendments: These amendments are filed to modify or update the existing terms and conditions of a pooled unit designation. They may involve adjustments to the size of the unit, changes to the allocation of costs and royalties among participating leaseholders, or revisions to drilling and production schedules. 3. Pooled Unit Termination Amendments: When a pooled unit reaches the end of its economic life or when circumstances dictate, termination amendments are filed to dissolve the unit. This allows participating leaseholders to resume independent operation of their respective leases. 4. Enhanced Recovery Project Amendments: These amendments facilitate the implementation of enhanced recovery techniques, such as water flooding or gas injection, in order to maximize hydrocarbon recovery from existing wells within a pooled unit. This helps to revitalize aging oilfields and prolong their productive lifespan. Overall, the Tarrant Texas Amendment to Pooled Unit Designation plays a crucial role in managing oil and gas operations, promoting collaboration among industry stakeholders, and balancing economic and environmental considerations in Tarrant County, Texas.
