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.
San Jose, California is a vibrant city located in the heart of Silicon Valley. Known for its technological innovations, entrepreneurial spirit, and rich cultural diversity, San Jose attracts both visitors and residents alike. A San Jose California Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation refers to a legal contract executed between a lessee (the party that leases the land) and royalty owners (the individuals or entities entitled to receive royalties from oil, gas, or mineral extraction) for pooling their interests in two separate tracts of land. This agreement typically includes a depth limitation, which specifies the maximum depth at which the lessee can conduct drilling or extraction operations. There may be various types of San Jose California Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, depending on the specific terms and conditions agreed upon by the parties involved. Some possible variations include: 1. Standard Pooling Agreement: This is the most common type of pooling agreement, where the lessee combines the interests of the royalty owners on two tracts of land to create an aggregated drilling unit. The depth limitation ensures that drilling operations are conducted only within a specified range. 2. Deep Well Pooling Agreement: In certain cases, where the lessee intends to drill deeper wells to extract specific resources, a deep well pooling agreement may be established. This type of agreement typically includes a higher depth limitation, allowing the lessee to conduct operations beyond the standard range. 3. Shallow Well Pooling Agreement: Conversely, a shallow well pooling agreement is implemented when the lessee intends to focus on extracting resources from shallower depths. The depth limitation in this agreement would be lower, enabling the lessee to operate within a specific range of depths suitable for shallow drilling. 4. Exclusive Pooling Agreement: This type of agreement grants the lessee exclusive rights to pool the interests of royalty owners on two tracts of land. It ensures that no other lessee can enter into a pooling arrangement with the same royalty owners for the specified depth limitation and tracts. 5. Non-exclusive Pooling Agreement: In contrast to an exclusive agreement, a non-exclusive pooling agreement allows the royalty owners to enter into pooling arrangements with multiple lessees, as long as they adhere to the depth limitation and other agreed-upon terms. These are just a few examples of potential variations in San Jose California Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation. The specific terms and conditions would be established based on the negotiation between the parties involved, ensuring a fair and mutually beneficial arrangement for all parties concerned.San Jose, California is a vibrant city located in the heart of Silicon Valley. Known for its technological innovations, entrepreneurial spirit, and rich cultural diversity, San Jose attracts both visitors and residents alike. A San Jose California Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation refers to a legal contract executed between a lessee (the party that leases the land) and royalty owners (the individuals or entities entitled to receive royalties from oil, gas, or mineral extraction) for pooling their interests in two separate tracts of land. This agreement typically includes a depth limitation, which specifies the maximum depth at which the lessee can conduct drilling or extraction operations. There may be various types of San Jose California Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, depending on the specific terms and conditions agreed upon by the parties involved. Some possible variations include: 1. Standard Pooling Agreement: This is the most common type of pooling agreement, where the lessee combines the interests of the royalty owners on two tracts of land to create an aggregated drilling unit. The depth limitation ensures that drilling operations are conducted only within a specified range. 2. Deep Well Pooling Agreement: In certain cases, where the lessee intends to drill deeper wells to extract specific resources, a deep well pooling agreement may be established. This type of agreement typically includes a higher depth limitation, allowing the lessee to conduct operations beyond the standard range. 3. Shallow Well Pooling Agreement: Conversely, a shallow well pooling agreement is implemented when the lessee intends to focus on extracting resources from shallower depths. The depth limitation in this agreement would be lower, enabling the lessee to operate within a specific range of depths suitable for shallow drilling. 4. Exclusive Pooling Agreement: This type of agreement grants the lessee exclusive rights to pool the interests of royalty owners on two tracts of land. It ensures that no other lessee can enter into a pooling arrangement with the same royalty owners for the specified depth limitation and tracts. 5. Non-exclusive Pooling Agreement: In contrast to an exclusive agreement, a non-exclusive pooling agreement allows the royalty owners to enter into pooling arrangements with multiple lessees, as long as they adhere to the depth limitation and other agreed-upon terms. These are just a few examples of potential variations in San Jose California Pooling Agreements Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation. The specific terms and conditions would be established based on the negotiation between the parties involved, ensuring a fair and mutually beneficial arrangement for all parties concerned.
