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.
The Harris Texas Supplemental Declaration of Pooled Unit is a legal document that outlines the regulations and guidelines for a pooled unit in Harris County, Texas. This declaration is designed to govern the operations and usage of pooled units within the county. Pooled units refer to the combination of multiple properties or tracts of land into a unified unit for various purposes, such as oil and gas exploration or real estate development. The Harris Texas Supplemental Declaration of Pooled Unit sets forth specific provisions for the creation, operation, and management of pooled units. It includes detailed descriptions of the boundaries and specific tracts of land that constitute the unit. The document also outlines the rights and responsibilities of the unit owners, including the sharing of profits and expenses related to the unit's operation. Additionally, the declaration covers important issues such as the allocation of production revenues, liability and indemnification, voting rights, and dispute resolution procedures among the unit owners. It ensures that the interests of all unit owners are protected and provides a framework for fair and efficient decision-making processes. Different types of Harris Texas Supplemental Declarations of Pooled Units may exist depending on the nature and purpose of the pooling arrangement. For example, there may be specific declarations tailored to oil and gas exploration projects, real estate developments, or water resource management initiatives. Each type of declaration would have its own set of provisions and guidelines specific to the industry or objective it serves. It is crucial for individuals and entities participating in a pooled unit to thoroughly understand the specific declaration that applies to their situation to ensure compliance with all applicable regulations and to protect their rights and investments. In conclusion, the Harris Texas Supplemental Declaration of Pooled Unit is a comprehensive legal document that governs the creation, operation, and management of pooled units within Harris County, Texas. It establishes the rules and procedures necessary for the fair and effective management and utilization of these units. Understanding the specific provisions of the declaration relevant to an individual or entity participating in a pooled unit is essential for successful participation and compliance with applicable laws and regulations.The Harris Texas Supplemental Declaration of Pooled Unit is a legal document that outlines the regulations and guidelines for a pooled unit in Harris County, Texas. This declaration is designed to govern the operations and usage of pooled units within the county. Pooled units refer to the combination of multiple properties or tracts of land into a unified unit for various purposes, such as oil and gas exploration or real estate development. The Harris Texas Supplemental Declaration of Pooled Unit sets forth specific provisions for the creation, operation, and management of pooled units. It includes detailed descriptions of the boundaries and specific tracts of land that constitute the unit. The document also outlines the rights and responsibilities of the unit owners, including the sharing of profits and expenses related to the unit's operation. Additionally, the declaration covers important issues such as the allocation of production revenues, liability and indemnification, voting rights, and dispute resolution procedures among the unit owners. It ensures that the interests of all unit owners are protected and provides a framework for fair and efficient decision-making processes. Different types of Harris Texas Supplemental Declarations of Pooled Units may exist depending on the nature and purpose of the pooling arrangement. For example, there may be specific declarations tailored to oil and gas exploration projects, real estate developments, or water resource management initiatives. Each type of declaration would have its own set of provisions and guidelines specific to the industry or objective it serves. It is crucial for individuals and entities participating in a pooled unit to thoroughly understand the specific declaration that applies to their situation to ensure compliance with all applicable regulations and to protect their rights and investments. In conclusion, the Harris Texas Supplemental Declaration of Pooled Unit is a comprehensive legal document that governs the creation, operation, and management of pooled units within Harris County, Texas. It establishes the rules and procedures necessary for the fair and effective management and utilization of these units. Understanding the specific provisions of the declaration relevant to an individual or entity participating in a pooled unit is essential for successful participation and compliance with applicable laws and regulations.
