Bexar Texas Supplemental Declaration of Pooled Unit

Name: Bexar Texas Supplemental Declaration of Pooled Unit
Brand: US Legal Forms
Rating: 4.55 (381 reviews)

Category:

Oil Gas and Minerals - Pooling and Unitization

State:

Multi-State

County:

Bexar

Control #:

US-OG-370

Format:

Instant download

Description

This declaration is used when a unit operator desires to supplement and amend a Declaration of Pooled Unit to include in the unit the oil, gas and mineral leases described in Exhibit A to this Supplement, covering lands within the confines of the Unit Area.

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FAQ

It also records a "Declaration of Pooling" or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.

Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well. The unit is generally one or a combination of government survey quarter-quarter sections.

Under Texas law, pooling effects a cross-conveyance among the owners of minerals under the various tracts of royalty or minerals in a pool so that they all own undivided interests under the unitized tract in the proportion their contribution bears to the unitized tract. Montgomery v.

Pooling refers to joining together enough acreage to allow issuance of a drilling permit for a single well. Unitization refers to joining together large areas such as an entire reservoir or field to optimize operations, introduce efficiencies, and reduce costs. Both pooling and unitization can be voluntary or forced.

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

Forced Pooling in Texas - the Texas forced pooling statute is similar to the statutes of most states. The Texas Railroad Commission has authority to issue forced pooling orders. A mineral interest owner who is force pooled in Texas has essentially the same options as mineral owners in other states.

Unitization is the act of consolidating multiple smaller units into a larger unit for improved warehouse efficiency, quicker packaging and arranging, and more efficient handling and transportation.

Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas. The entire unit area is operated as a single entity, without regard to lease boundaries, and allows for the maximum recovery of production from the reservoir.

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Effective as of October 17, 1996, recorded in the Real Property Records of Bexar County, Texas. (the "Restated Supplemental Declaration");.1 Completing the DSR Form Electronically . Plans that set out annual objectives for the fiscal year. List the names of all mineral and working interest owners in the proposed unit.

Bexar Texas Supplemental Declaration of Pooled Unit

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What is a declaration of pooled unit?

What is a pooling agreement oil and gas?

What is pooling in Texas?

What is Pool in oil and gas?

What is the difference between pooling and unitization?

What is a pooled unit?

What is a pooling clause?

Does Texas have forced pooling?

What is a unitization?

What is a unitization agreement?

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Are there any restrictions on the use of the pooled unit?

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