Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision refers to a specific modification made to the standard oil and gas lease agreement in Broward County, Florida, relating to the pooling provision. This amendment is designed to address specific concerns or requirements related to the pooling of oil and gas resources in the region. Amendments to the pooling provision in the Broward Florida Oil and Gas Lease may vary depending on the specific needs and conditions of different oil and gas projects. Some common types or variations of these amendments could include: 1. Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision for Enhanced Resource Extraction: This type of amendment may aim to optimize the extraction of oil and gas resources by allowing for the consolidation and joint development of small or fragmented plots of land. It may enable pooling and efficient extraction techniques to increase overall production. 2. Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision for Environmental Protection: This kind of amendment may focus on incorporating stricter regulations and guidelines to protect the environment during the pooling activities. It could include measures to reduce the potential impact on water sources, wildlife habitats, and other eco-sensitive areas. 3. Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision for Economic and Infrastructure Development: This type of amendment may emphasize the utilization of pooled resources for broader economic growth and infrastructure projects. It may facilitate partnerships between oil and gas companies and local communities to ensure that the benefits from resource extraction are equally shared and contribute to regional development. 4. Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision for Streamlining Administrative Procedures: This type of amendment may primarily focus on simplifying and streamlining administrative procedures related to the pooling provision. It could aim to reduce bureaucratic hurdles, optimize the permitting process, and enhance overall operational efficiency. Overall, Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision allows for customization of the lease agreement to align with specific project requirements, environmental concerns, economic development goals, and streamlined operations.
Broward Florida Amendment to Oil and Gas Lease to Amend Pooling Provision
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A pooling clause expands the granting clause by giving a lessee the authority to determine whether to pool. This authority, however, is not unfettered. Many disputes have arisen through the years as to whether a lessee has properly exercised his discretion and authority under a pooling clause.
What Is Compulsory Pooling? Compulsory pooling, also known as forced, statutory or mandatory pooling, forces landownerswho do not wish the mineral resources underneath their land to be extractedto become part of a drilling unit.
Forced Pooling in Texas - the Texas forced pooling statute is similar to the statutes of most states. The Texas Railroad Commission has authority to issue forced pooling orders. A mineral interest owner who is force pooled in Texas has essentially the same options as mineral owners in other states.
Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.
Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well. The unit is generally one or a combination of government survey quarter-quarter sections.
Pooling refers to joining together enough acreage to allow issuance of a drilling permit for a single well. Unitization refers to joining together large areas such as an entire reservoir or field to optimize operations, introduce efficiencies, and reduce costs. Both pooling and unitization can be voluntary or forced.
Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well. The unit is generally one or a combination of government survey quarter-quarter sections.
It also records a "Declaration of Pooling" or similarly named document in the land records office at the local Courthouse. The declaration shows the boundaries of the pooling unit and identifies all the landowners and amount of property each landowner actually has in the unit.
A Pugh Clause is meant to prevent a lessee from declaring all lands under an oil and gas lease as being held by production, even if production only occurs on a fraction of the property.