This form is used when royalty owners are the owners of royalty and mineral interests in Tracts 1 and 2, subject to the terms of Lease 1 and Lease 2. Recognizing that each of the Royalty Owners may not own an Interest in both Tracts 1 and 2, or may not own an identical Interest in Tracts 1 and 2, it is their desire, together with Lessee, to pool and unitize these two Tracts for oil and gas operations.
Alameda California Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation refers to a legal agreement that governs the pooling of mineral rights on two designated plots of land in Alameda County, California. This agreement outlines the conditions and limitations for the extraction of natural resources, such as oil, gas, or minerals, and aims to ensure fair distribution of royalties amongst the involved parties. The Alameda California Pooling Agreement combines the interests of the lessee (the entity responsible for exploration and production activities) and the royalty owners (individuals or entities who hold a percentage of the mineral rights). By pooling their interests, the lessee and royalty owners can collectively benefit from the extraction operations and streamline the resource extraction process. The agreement typically includes provisions that address the depth limitation, meaning that the pooling activities are limited to a specific depth range within the identified tracts. This limitation ensures efficient and sustainable resource extraction, preventing excessive depletion of resources and potential environmental risks. Different types of Alameda California Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation may vary based on factors such as the type of resources being extracted, the duration of the agreement, the percentage of royalty distribution, and any additional terms and conditions agreed upon by the involved parties. Overall, the Alameda California Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation serves as a crucial framework for cooperation and coordination amongst the lessee and royalty owners to maximize the benefits of resource extraction while ensuring responsible and sustainable practices.
