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.
Los Angeles California Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is a legal document that pertains to the extraction and distribution of oil or gas resources in the Los Angeles area. This designation allows multiple property owners within a defined geographic region to combine their interests and form a single unit for the purpose of pooling resources. The Designation of Pooled Unit and Declaration of Pooling is necessary for efficient and economical production of oil or gas reserves. By pooling together properties that share a common reservoir, operators can optimize the extraction process by reducing costs and maximizing recovery rates. This pooling arrangement ensures that all owners within the designated area benefit from the production results. In Los Angeles, there are several types of Designation of Pooled Unit and Declaration of Pooling for Oil or Gas, including: 1. Field-Wide Pooled Unit: This type of pooling encompasses an entire oil or gas field in a given geographic area of Los Angeles. By combining all properties within the field, operators can access and extract hydrocarbon resources more effectively. 2. Well bore Pooled Unit: In this case, pooling is focused on a specific well or drill site within Los Angeles. The purpose is to optimize production within a particular reservoir by merging the interests of neighboring property owners. 3. Horizontal Pooled Unit: This type of pooling is predominantly used in Los Angeles when drilling horizontally into shale formations. It involves combining properties that are located along the same horizontal bore to exploit the maximum potential of the reservoir. 4. Deep Pooled Unit: When targeting deep underground oil or gas deposits in Los Angeles, a deep pooled unit is established. This brings together properties with shared interests in reaching inaccessible resources at significant depths. The Designation of Pooled Unit and Declaration of Pooling for Oil or Gas in Los Angeles serves as a crucial agreement between property owners and operators. It outlines the terms, conditions, and guidelines for the pooled unit's operation, distribution of costs and revenues, and the rights and obligations of all parties involved. This legal document ensures that the extraction and distribution process of oil or gas resources in Los Angeles is managed in a fair and efficient manner, providing benefits to both property owners and the wider community.Los Angeles California Designation of Pooled Unit and Declaration of Pooling for Oil or Gas is a legal document that pertains to the extraction and distribution of oil or gas resources in the Los Angeles area. This designation allows multiple property owners within a defined geographic region to combine their interests and form a single unit for the purpose of pooling resources. The Designation of Pooled Unit and Declaration of Pooling is necessary for efficient and economical production of oil or gas reserves. By pooling together properties that share a common reservoir, operators can optimize the extraction process by reducing costs and maximizing recovery rates. This pooling arrangement ensures that all owners within the designated area benefit from the production results. In Los Angeles, there are several types of Designation of Pooled Unit and Declaration of Pooling for Oil or Gas, including: 1. Field-Wide Pooled Unit: This type of pooling encompasses an entire oil or gas field in a given geographic area of Los Angeles. By combining all properties within the field, operators can access and extract hydrocarbon resources more effectively. 2. Well bore Pooled Unit: In this case, pooling is focused on a specific well or drill site within Los Angeles. The purpose is to optimize production within a particular reservoir by merging the interests of neighboring property owners. 3. Horizontal Pooled Unit: This type of pooling is predominantly used in Los Angeles when drilling horizontally into shale formations. It involves combining properties that are located along the same horizontal bore to exploit the maximum potential of the reservoir. 4. Deep Pooled Unit: When targeting deep underground oil or gas deposits in Los Angeles, a deep pooled unit is established. This brings together properties with shared interests in reaching inaccessible resources at significant depths. The Designation of Pooled Unit and Declaration of Pooling for Oil or Gas in Los Angeles serves as a crucial agreement between property owners and operators. It outlines the terms, conditions, and guidelines for the pooled unit's operation, distribution of costs and revenues, and the rights and obligations of all parties involved. This legal document ensures that the extraction and distribution process of oil or gas resources in Los Angeles is managed in a fair and efficient manner, providing benefits to both property owners and the wider community.
