This Designation is executed by the Operator and Working Interest Owners and filed of record for the purpose of evidencing their election to exercise the pooling authority granted to the lessees in the Leases, to give notice of the Unit being established, and to identify and describe the lands included in the Unit.
The Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas is a legal document that outlines the process of pooling oil or gas resources within designated areas in Cook County, Illinois. This document serves as the basis for the efficient extraction and management of hydrocarbon reserves in a cost-effective manner. Under this designation, different types of Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas can be classified based on various criteria such as geological formations, lease boundaries, or specific volumes. Some common types may include: 1. Geological Pooling: This type of pooling focuses on grouping oil or gas reserves located within specific geological formations. It helps streamline the extraction process by combining the resources from multiple wells within a designated area. 2. Unit Pooling: Unit pooling involves consolidating small leasehold interests in a specific area. This helps maximize efficiency by integrating the individual tracts of land into a single unit, allowing for coordinated drilling and production operations. 3. Volume Pooling: Volume pooling is based on combining oil or gas reserves based on their estimated volumes. It facilitates fair distribution of production costs and revenues among the stakeholders according to their respective shares of the total volume. 4. Lease Pooling: Lease pooling involves combining multiple leasehold interests owned by different parties in a specific geographic area. This type of pooling helps coordinate operations, avoid duplicate infrastructure, and ensure optimal utilization of resources. The Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas is crucial for the development of oil and gas resources in Cook County. It promotes efficient resource extraction, minimizes operational redundancies, and ensures equitable distribution of costs and revenues among stakeholders. Compliance with this document is essential for oil and gas companies operating in the region to avoid legal and financial complications.The Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas is a legal document that outlines the process of pooling oil or gas resources within designated areas in Cook County, Illinois. This document serves as the basis for the efficient extraction and management of hydrocarbon reserves in a cost-effective manner. Under this designation, different types of Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas can be classified based on various criteria such as geological formations, lease boundaries, or specific volumes. Some common types may include: 1. Geological Pooling: This type of pooling focuses on grouping oil or gas reserves located within specific geological formations. It helps streamline the extraction process by combining the resources from multiple wells within a designated area. 2. Unit Pooling: Unit pooling involves consolidating small leasehold interests in a specific area. This helps maximize efficiency by integrating the individual tracts of land into a single unit, allowing for coordinated drilling and production operations. 3. Volume Pooling: Volume pooling is based on combining oil or gas reserves based on their estimated volumes. It facilitates fair distribution of production costs and revenues among the stakeholders according to their respective shares of the total volume. 4. Lease Pooling: Lease pooling involves combining multiple leasehold interests owned by different parties in a specific geographic area. This type of pooling helps coordinate operations, avoid duplicate infrastructure, and ensure optimal utilization of resources. The Cook Illinois Designation of Pooled Unit and Declaration of Pooling For Oil Or Gas is crucial for the development of oil and gas resources in Cook County. It promotes efficient resource extraction, minimizes operational redundancies, and ensures equitable distribution of costs and revenues among stakeholders. Compliance with this document is essential for oil and gas companies operating in the region to avoid legal and financial complications.
