Harris Texas Amendment to Unit Agreement

• Category: Oil Gas and Minerals - Pooling and Unitization
• State: Multi-State
• County: Harris
• Control #: US-OG-733
• Format: Word; Rich Text

Description

The form is used when the Owners, by unanimous consent, desire to amend a Unit Agreement. It may be executed in multiple counterparts, which, when taken together, shall be deemed one and the same instrument. The Harris Texas Amendment to Unit Agreement is a legal document that serves as an addendum or modification to an existing unit agreement in Harris County, Texas. This agreement is crucial for outlining the rights, obligations, and responsibilities of the parties involved in the development and operation of oil and gas operations within a defined unit area. The Harris Texas Amendment to Unit Agreement is specifically tailored to address the unique regulatory and operational requirements within Harris County, Texas. This agreement typically covers multiple aspects, including but not limited to: 1. Ownership and Interests: The amendment clarifies the ownership interests and rights of various parties involved in the unit agreement, including working interest owners, royalty owners, and non-participating royalty interest owners. 2. Unit Boundaries: The document establishes and defines the boundaries of the unit area in Harris County, Texas. It may also include provisions for the expansion or contraction of the unit area if required. 3. Unit Operations: The amendment outlines the rules and regulations governing the exploration, drilling, production, and other oil and gas-related operations within the unit area. This includes provisions for development plans, minimum drilling requirements, pooling and spacing rules, and regulatory compliance. 4. Costs and Expenses: The agreement addresses the distribution and allocation of costs and expenses associated with unit operations. This includes provisions for cost recovery, well expenses, royalty payments, and taxes. 5. Accounting and Reporting: The Harris Texas Amendment to Unit Agreement specifies the accounting procedures and reporting requirements for the unit operations. This incorporates the documentation, auditing, and dissemination of financial and operational information to the respective parties involved. 6. Duration and Termination: The amendment may outline the duration of the unit agreement and specify the conditions under which it can be terminated. This includes provisions for non-compliance, failure to operate, or force majeure events. Types of Harris Texas Amendment to Unit Agreement may include: — Amended and Restated Unit Agreement: This type of amendment replaces the existing unit agreement in its entirety with a revised agreement that incorporates significant modifications or updates. — Ratification and Clarification Agreement: This amendment is designed to ratify and clarify certain terms, provisions, or ambiguities in the original unit agreement without making substantial changes to its overall structure. — Supplemental Amendment: This type of amendment adds specific provisions or modifies certain clauses within the original unit agreement to address particular issues or circumstances that have arisen since its inception. — Partial Termination Agreement: In situations where a portion of the unit area is no longer viable or needs to be excluded, this amendment terminates the rights and obligations related to that specific area while keeping the unit agreement intact for the remaining area. Overall, the Harris Texas Amendment to Unit Agreement ensures clear communication, collaboration, and compliance among the parties involved in oil and gas operations within Harris County, Texas, while accommodating any necessary changes or updates that may arise during the course of the project.

The Harris Texas Amendment to Unit Agreement is a legal document that serves as an addendum or modification to an existing unit agreement in Harris County, Texas. This agreement is crucial for outlining the rights, obligations, and responsibilities of the parties involved in the development and operation of oil and gas operations within a defined unit area. The Harris Texas Amendment to Unit Agreement is specifically tailored to address the unique regulatory and operational requirements within Harris County, Texas. This agreement typically covers multiple aspects, including but not limited to: 1. Ownership and Interests: The amendment clarifies the ownership interests and rights of various parties involved in the unit agreement, including working interest owners, royalty owners, and non-participating royalty interest owners. 2. Unit Boundaries: The document establishes and defines the boundaries of the unit area in Harris County, Texas. It may also include provisions for the expansion or contraction of the unit area if required. 3. Unit Operations: The amendment outlines the rules and regulations governing the exploration, drilling, production, and other oil and gas-related operations within the unit area. This includes provisions for development plans, minimum drilling requirements, pooling and spacing rules, and regulatory compliance. 4. Costs and Expenses: The agreement addresses the distribution and allocation of costs and expenses associated with unit operations. This includes provisions for cost recovery, well expenses, royalty payments, and taxes. 5. Accounting and Reporting: The Harris Texas Amendment to Unit Agreement specifies the accounting procedures and reporting requirements for the unit operations. This incorporates the documentation, auditing, and dissemination of financial and operational information to the respective parties involved. 6. Duration and Termination: The amendment may outline the duration of the unit agreement and specify the conditions under which it can be terminated. This includes provisions for non-compliance, failure to operate, or force majeure events. Types of Harris Texas Amendment to Unit Agreement may include: — Amended and Restated Unit Agreement: This type of amendment replaces the existing unit agreement in its entirety with a revised agreement that incorporates significant modifications or updates. — Ratification and Clarification Agreement: This amendment is designed to ratify and clarify certain terms, provisions, or ambiguities in the original unit agreement without making substantial changes to its overall structure. — Supplemental Amendment: This type of amendment adds specific provisions or modifies certain clauses within the original unit agreement to address particular issues or circumstances that have arisen since its inception. — Partial Termination Agreement: In situations where a portion of the unit area is no longer viable or needs to be excluded, this amendment terminates the rights and obligations related to that specific area while keeping the unit agreement intact for the remaining area. Overall, the Harris Texas Amendment to Unit Agreement ensures clear communication, collaboration, and compliance among the parties involved in oil and gas operations within Harris County, Texas, while accommodating any necessary changes or updates that may arise during the course of the project.