Harris Texas Declaration of Pooled Unit - Short Form

• Category: Oil Gas and Minerals - Pooling and Unitization
• State: Multi-State
• County: Harris
• Control #: US-OG-376
• Format: Word; Rich Text

Description

This declaration is executed by an Operator and filed of record for the purpose of exercising the pooling authority granted to the Lessee in the Leases, and giving notice of the Lands included in the Unit established by the Operator. The Harris Texas Declaration of Pooled Unit — Short Form is a legal document that outlines the creation and organization of a pooled unit. This document is relevant to oil and gas exploration and production activities in Harris County, Texas. A pooled unit refers to the consolidation of mineral interests in a specific area. It allows multiple owners of separate tracts or parcels of land to combine their interests and resources for the purposes of drilling and extracting oil and gas. The Declaration of Pooled Unit — Short Form is utilized to establish and regulate these pooled units. Some key elements covered in the Harris Texas Declaration of Pooled Unit — Short Form may include: 1. Identification: It includes the names and addresses of the parties involved in the creation of the pooled unit. This typically includes the operators, working interest owners, and leaseholders. 2. Description of Pooled Unit: The document provides a detailed description of the designated area where the pooled unit is formed. This description may include legal descriptions, metes and bounds, or reference to survey maps. 3. Purpose and Objectives: It outlines the goals and objectives of the pooled unit. This may include the exploration, production, development, and utilization of oil and gas resources within the designated area. 4. Interests and Obligations: The Declaration specifies the proportionate working interests and obligations of each party involved in the pooled unit. It details the percentage of ownership and responsibilities for the expenses and operations. 5. Voting Rights: The document may define the voting procedures and rights of the working interest owners. This ensures that decisions related to the pooled unit are made collectively, considering the interests of all parties involved. 6. Drilling and Production Operations: The Declaration outlines the procedures and protocols for drilling and production activities within the pooled unit. It may include guidelines for well locations, spacing requirements, and operating conditions. 7. Financial Matters: The document addresses financial aspects such as revenue distribution, cost allocations, and rights to royalties or other financial benefits derived from oil and gas production within the pooled unit. It is worth noting that the Harris Texas Declaration of Pooled Unit — Short Form can have variations or different versions, such as specific forms created by the Harris County Clerk's Office or customized versions utilized by individual operators or landowners. The specific requirements and content may vary depending on the particulars of the pooled unit and the preferences of the parties involved.

The Harris Texas Declaration of Pooled Unit — Short Form is a legal document that outlines the creation and organization of a pooled unit. This document is relevant to oil and gas exploration and production activities in Harris County, Texas. A pooled unit refers to the consolidation of mineral interests in a specific area. It allows multiple owners of separate tracts or parcels of land to combine their interests and resources for the purposes of drilling and extracting oil and gas. The Declaration of Pooled Unit — Short Form is utilized to establish and regulate these pooled units. Some key elements covered in the Harris Texas Declaration of Pooled Unit — Short Form may include: 1. Identification: It includes the names and addresses of the parties involved in the creation of the pooled unit. This typically includes the operators, working interest owners, and leaseholders. 2. Description of Pooled Unit: The document provides a detailed description of the designated area where the pooled unit is formed. This description may include legal descriptions, metes and bounds, or reference to survey maps. 3. Purpose and Objectives: It outlines the goals and objectives of the pooled unit. This may include the exploration, production, development, and utilization of oil and gas resources within the designated area. 4. Interests and Obligations: The Declaration specifies the proportionate working interests and obligations of each party involved in the pooled unit. It details the percentage of ownership and responsibilities for the expenses and operations. 5. Voting Rights: The document may define the voting procedures and rights of the working interest owners. This ensures that decisions related to the pooled unit are made collectively, considering the interests of all parties involved. 6. Drilling and Production Operations: The Declaration outlines the procedures and protocols for drilling and production activities within the pooled unit. It may include guidelines for well locations, spacing requirements, and operating conditions. 7. Financial Matters: The document addresses financial aspects such as revenue distribution, cost allocations, and rights to royalties or other financial benefits derived from oil and gas production within the pooled unit. It is worth noting that the Harris Texas Declaration of Pooled Unit — Short Form can have variations or different versions, such as specific forms created by the Harris County Clerk's Office or customized versions utilized by individual operators or landowners. The specific requirements and content may vary depending on the particulars of the pooled unit and the preferences of the parties involved.