This form of declaration provides notice that the unit owner pools, unitizes, and combines the Unit Leases, including all renewals, extensions, ratifications, and amendments of the Unit Leases and the lands covered by those Leases and the mineral and/or royalty estates in the lands subject to the Leases into a unit for the exploration, development, and production of oil, gas, and associated hydrocarbons (the Unit ).
The Lima Arizona Declaration of Pooled Unit — Long Form is a legal document that outlines the formation and operation of a pooled unit in Lima, Arizona. It serves as a detailed description and agreement between the participants involved in the unit regarding the extraction and distribution of natural resources, typically oil or gas. This document contains various relevant keywords such as Lima Arizona, Declaration of Pooled Unit, Long Form, formation, operation, participants, extraction, distribution, natural resources, oil, gas, and agreement. It is important to use these keywords to provide a comprehensive understanding of the topic. Different types of Lima Arizona Declaration of Pooled Unit — Long Form may include variations based on the specific natural resource being extracted, the parties involved, or any additional conditions or provisions applicable to the unit. For instance, there could be specific long forms for oil extraction or gas extraction, each tailored to address the unique considerations and requirements for that particular resource. There might also be variations based on the different participants, such as a declaration involving multiple companies or a joint venture agreement between corporations and landowners. The Lima Arizona Declaration of Pooled Unit — Long Form is crucial in ensuring a clear understanding and agreement among the participants, as it outlines the rights, responsibilities, and obligations of each party. It typically includes provisions regarding the allocation of costs, the sharing of revenues, the determination of well locations, the duration of the agreement, and any termination or default clauses. Additionally, it may address environmental considerations, regulations, and compliance procedures that must be followed during the operation of the pooled unit. In conclusion, the Lima Arizona Declaration of Pooled Unit — Long Form is a legally binding document that governs the formation and operation of pooled units in Lima, Arizona. It encompasses various aspects related to the extraction and distribution of natural resources and plays a vital role in ensuring clarity and compliance among the participants.The Lima Arizona Declaration of Pooled Unit — Long Form is a legal document that outlines the formation and operation of a pooled unit in Lima, Arizona. It serves as a detailed description and agreement between the participants involved in the unit regarding the extraction and distribution of natural resources, typically oil or gas. This document contains various relevant keywords such as Lima Arizona, Declaration of Pooled Unit, Long Form, formation, operation, participants, extraction, distribution, natural resources, oil, gas, and agreement. It is important to use these keywords to provide a comprehensive understanding of the topic. Different types of Lima Arizona Declaration of Pooled Unit — Long Form may include variations based on the specific natural resource being extracted, the parties involved, or any additional conditions or provisions applicable to the unit. For instance, there could be specific long forms for oil extraction or gas extraction, each tailored to address the unique considerations and requirements for that particular resource. There might also be variations based on the different participants, such as a declaration involving multiple companies or a joint venture agreement between corporations and landowners. The Lima Arizona Declaration of Pooled Unit — Long Form is crucial in ensuring a clear understanding and agreement among the participants, as it outlines the rights, responsibilities, and obligations of each party. It typically includes provisions regarding the allocation of costs, the sharing of revenues, the determination of well locations, the duration of the agreement, and any termination or default clauses. Additionally, it may address environmental considerations, regulations, and compliance procedures that must be followed during the operation of the pooled unit. In conclusion, the Lima Arizona Declaration of Pooled Unit — Long Form is a legally binding document that governs the formation and operation of pooled units in Lima, Arizona. It encompasses various aspects related to the extraction and distribution of natural resources and plays a vital role in ensuring clarity and compliance among the participants.
