This form is used in the event any part to this Agreement elects not to participate in a Horizontal Exploratory Well, the non-participating party shall, on commencement of operations for the well, relinquish to the participating party one hundred percent (100%) of its rights, title, and interests in and to that portion of the Contract Area included within the Drilling Unit for the well and one hundred percent (100%) of the party’s rights, title, and interests in and to that portion of the Contract Area.
Franklin Ohio Relinquishment Provision — Horizontal Well: A Detailed Description Keywords: Franklin Ohio, relinquishment provision, horizontal well, types Introduction: The Franklin Ohio Relinquishment Provision — Horizontal Well is a vital component of oil and gas operations in the state of Ohio. This provision governs the relinquishment process for horizontal wells in Franklin County, ensuring the protection and efficient management of natural resources. Description: The Franklin Ohio Relinquishment Provision — Horizontal Well is designed to regulate the relinquishment of horizontal wells once their productive life cycle has ended, or they are no longer economically viable. This provision ensures that operators comply with legal requirements, environmental standards, and safety regulations during the relinquishment process. Types of Franklin Ohio Relinquishment Provision — Horizontal Well: 1. Standard Relinquishment: The standard relinquishment provision for horizontal wells in Franklin County is applicable when a well's productive life cycle ends, making it no longer economically viable or producing significant quantities of oil and gas. This provision mandates that operators take specific steps to decommission and abandon the well in an environmentally responsible manner. 2. Premature Relinquishment: In cases where unforeseen circumstances or technological advancements render a horizontal well unviable before its anticipated lifespan, a premature relinquishment provision comes into play. This provision ensures that operators take necessary measures to safely and efficiently abandon the well, minimizing environmental and public health impacts. 3. Expired Lease Relinquishment: This type of relinquishment provision is applicable when the lease agreement covering the horizontal well expires or is terminated. It dictates that operators must decommission and abandon the well within a certain timeframe or as specified by the lease. 4. Non-Producing Well Relinquishment: If a horizontal well fails to produce oil or gas within a specified timeframe or is deemed non-productive, the non-producing well relinquishment provision becomes relevant. This provision ensures that operators fulfill their obligations to properly abandon and decommission such wells promptly. Conclusion: The Franklin Ohio Relinquishment Provision — Horizontal Well is an indispensable element of Ohio's oil and gas industry, providing guidelines for the relinquishment of horizontal wells in Franklin County. By complying with these provisions, operators ensure the safe and responsible disposal of unproductive or obsolete wells, protecting the environment and public well-being.Franklin Ohio Relinquishment Provision — Horizontal Well: A Detailed Description Keywords: Franklin Ohio, relinquishment provision, horizontal well, types Introduction: The Franklin Ohio Relinquishment Provision — Horizontal Well is a vital component of oil and gas operations in the state of Ohio. This provision governs the relinquishment process for horizontal wells in Franklin County, ensuring the protection and efficient management of natural resources. Description: The Franklin Ohio Relinquishment Provision — Horizontal Well is designed to regulate the relinquishment of horizontal wells once their productive life cycle has ended, or they are no longer economically viable. This provision ensures that operators comply with legal requirements, environmental standards, and safety regulations during the relinquishment process. Types of Franklin Ohio Relinquishment Provision — Horizontal Well: 1. Standard Relinquishment: The standard relinquishment provision for horizontal wells in Franklin County is applicable when a well's productive life cycle ends, making it no longer economically viable or producing significant quantities of oil and gas. This provision mandates that operators take specific steps to decommission and abandon the well in an environmentally responsible manner. 2. Premature Relinquishment: In cases where unforeseen circumstances or technological advancements render a horizontal well unviable before its anticipated lifespan, a premature relinquishment provision comes into play. This provision ensures that operators take necessary measures to safely and efficiently abandon the well, minimizing environmental and public health impacts. 3. Expired Lease Relinquishment: This type of relinquishment provision is applicable when the lease agreement covering the horizontal well expires or is terminated. It dictates that operators must decommission and abandon the well within a certain timeframe or as specified by the lease. 4. Non-Producing Well Relinquishment: If a horizontal well fails to produce oil or gas within a specified timeframe or is deemed non-productive, the non-producing well relinquishment provision becomes relevant. This provision ensures that operators fulfill their obligations to properly abandon and decommission such wells promptly. Conclusion: The Franklin Ohio Relinquishment Provision — Horizontal Well is an indispensable element of Ohio's oil and gas industry, providing guidelines for the relinquishment of horizontal wells in Franklin County. By complying with these provisions, operators ensure the safe and responsible disposal of unproductive or obsolete wells, protecting the environment and public well-being.
