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.
A Suffolk New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, refers to a legal contract that enables the consolidation of multiple oil and gas leases and the pooling of their production efforts in Suffolk County, New York. This arrangement allows lessees and royalty owners to work jointly in extracting natural resources while adhering to specific depth limitations. In Suffolk County, various types of pooling agreements may exist, each tailored to the specific needs and conditions of the involved parties. Some possible variations include: 1. Voluntary Pooling Agreement: This type of agreement is entered into willingly by both the lessee (the party holding the oil and gas lease) and the royalty owners (those entitled to a share of the production proceeds). The contract outlines the terms and conditions of pooling the tracts on the specified depth limitations to optimize resource extraction. 2. Compulsory Pooling Agreement: In certain cases, a compulsory pooling agreement may be initiated to consolidate the mineral rights of reluctant or non-participating royalty owners. This agreement ensures the fair distribution of production proceeds while still imposing limits on depth to safeguard the interests of all parties involved. 3. Limited Depth Pooling Agreement: This particular type of Suffolk New York pooling agreement imposes depth restrictions on the pooling arrangement. The lessee and royalty owners agree to only combine their efforts for resource extraction within specific depths of the subsurface. This restriction may be influenced by geological factors, preservation concerns, or the preferences of the parties involved. 4. Deepwater and Shallow Water Pooling Agreement: Depending on the location of the tracts and the natural resources being targeted, Suffolk County may have distinct pooling agreements for deepwater and shallow water operations. These agreements would specify differing depth limitations and operational considerations based on the unique characteristics of each water depth zone. Regardless of the specific type, a Suffolk New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, aims to facilitate efficient extraction and maximize returns from oil and gas reserves while ensuring that all parties involved have a fair and equitable distribution of profits. Such agreements allow for collaborative resource management and minimize potential conflicts among lessees and royalty owners within Suffolk County.A Suffolk New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, refers to a legal contract that enables the consolidation of multiple oil and gas leases and the pooling of their production efforts in Suffolk County, New York. This arrangement allows lessees and royalty owners to work jointly in extracting natural resources while adhering to specific depth limitations. In Suffolk County, various types of pooling agreements may exist, each tailored to the specific needs and conditions of the involved parties. Some possible variations include: 1. Voluntary Pooling Agreement: This type of agreement is entered into willingly by both the lessee (the party holding the oil and gas lease) and the royalty owners (those entitled to a share of the production proceeds). The contract outlines the terms and conditions of pooling the tracts on the specified depth limitations to optimize resource extraction. 2. Compulsory Pooling Agreement: In certain cases, a compulsory pooling agreement may be initiated to consolidate the mineral rights of reluctant or non-participating royalty owners. This agreement ensures the fair distribution of production proceeds while still imposing limits on depth to safeguard the interests of all parties involved. 3. Limited Depth Pooling Agreement: This particular type of Suffolk New York pooling agreement imposes depth restrictions on the pooling arrangement. The lessee and royalty owners agree to only combine their efforts for resource extraction within specific depths of the subsurface. This restriction may be influenced by geological factors, preservation concerns, or the preferences of the parties involved. 4. Deepwater and Shallow Water Pooling Agreement: Depending on the location of the tracts and the natural resources being targeted, Suffolk County may have distinct pooling agreements for deepwater and shallow water operations. These agreements would specify differing depth limitations and operational considerations based on the unique characteristics of each water depth zone. Regardless of the specific type, a Suffolk New York Pooling Agreement Between Lessee and Royalty Owners on Two Tracts, With Depth Limitation, aims to facilitate efficient extraction and maximize returns from oil and gas reserves while ensuring that all parties involved have a fair and equitable distribution of profits. Such agreements allow for collaborative resource management and minimize potential conflicts among lessees and royalty owners within Suffolk County.
