Suffolk New York Provisions That May Be Added to A Pooling Or Unit Designation

• Category: Oil Gas and Minerals - Pooling and Unitization
• State: Multi-State
• County: Suffolk
• Control #: US-OG-369
• Format: Word; Rich Text

Description

This provision document contains termination, signature, and depth provisions which may be added to a pooling or unit designation. Suffolk County, located in the state of New York, has specific provisions that may be added to a pooling or unit designation. These provisions outline regulations and requirements for the pooling and unitization of oil, gas, and other minerals within the county. Understanding these provisions is crucial for individuals and companies involved in the extraction industry in Suffolk County. One type of provision that may be added to a pooling or unit designation in Suffolk County is the minimum acreage requirement. This provision specifies the minimum amount of land that must be included in a pooling or unitization agreement. It ensures that only a certain size of land is pooled together to maintain effective production levels and avoid potential over-extraction or underutilization of resources. Another provision is the allocation of costs and revenues. This provision addresses how costs related to drilling, exploration, and overall operation of the pooled unit will be shared among the participating parties. It also determines how revenues generated from the production of minerals within the unit will be distributed, considering factors such as initial investment, production output, and other specified criteria. Suffolk County may also have provisions regarding lease terms and agreements. These provisions establish the duration, renewal options, and conditions of the lease between the landowners and the operators. They may cover topics such as minimum royalty rates, bonus payments, and exploration commitments to ensure fair and mutually beneficial agreements between the parties involved. Moreover, the county may have provisions regarding drilling and operation regulations. These provisions outline the specific requirements, standards, and restrictions regarding drilling and operational practices within the pooling or unitized area. They may cover areas such as setback distances, noise limitations, environmental protection measures, and safety protocols to safeguard the well-being of residents and the environment. It is important to note that the specific provisions and their names may vary depending on the county or state. However, in Suffolk County, these provisions are generally geared towards promoting responsible and efficient extraction practices while protecting the rights and interests of all parties involved. In summary, Suffolk County, New York, has several provisions that may be added to a pooling or unit designation. These provisions cover aspects such as minimum acreage requirements, cost and revenue allocation, lease terms and agreements, as well as drilling and operational regulations. Understanding and adhering to these provisions is crucial for the successful and ethical extraction of minerals within the county.

Suffolk County, located in the state of New York, has specific provisions that may be added to a pooling or unit designation. These provisions outline regulations and requirements for the pooling and unitization of oil, gas, and other minerals within the county. Understanding these provisions is crucial for individuals and companies involved in the extraction industry in Suffolk County. One type of provision that may be added to a pooling or unit designation in Suffolk County is the minimum acreage requirement. This provision specifies the minimum amount of land that must be included in a pooling or unitization agreement. It ensures that only a certain size of land is pooled together to maintain effective production levels and avoid potential over-extraction or underutilization of resources. Another provision is the allocation of costs and revenues. This provision addresses how costs related to drilling, exploration, and overall operation of the pooled unit will be shared among the participating parties. It also determines how revenues generated from the production of minerals within the unit will be distributed, considering factors such as initial investment, production output, and other specified criteria. Suffolk County may also have provisions regarding lease terms and agreements. These provisions establish the duration, renewal options, and conditions of the lease between the landowners and the operators. They may cover topics such as minimum royalty rates, bonus payments, and exploration commitments to ensure fair and mutually beneficial agreements between the parties involved. Moreover, the county may have provisions regarding drilling and operation regulations. These provisions outline the specific requirements, standards, and restrictions regarding drilling and operational practices within the pooling or unitized area. They may cover areas such as setback distances, noise limitations, environmental protection measures, and safety protocols to safeguard the well-being of residents and the environment. It is important to note that the specific provisions and their names may vary depending on the county or state. However, in Suffolk County, these provisions are generally geared towards promoting responsible and efficient extraction practices while protecting the rights and interests of all parties involved. In summary, Suffolk County, New York, has several provisions that may be added to a pooling or unit designation. These provisions cover aspects such as minimum acreage requirements, cost and revenue allocation, lease terms and agreements, as well as drilling and operational regulations. Understanding and adhering to these provisions is crucial for the successful and ethical extraction of minerals within the county.