This form is an agreement that is used by the Parties that are the owners of working, royalty, or other oil and gas interests in the unit area subject to this Agreement. It is pursuant to the Mineral Leasing Act of February 25, 1920, as amended, 30 U.S.C. Sec. 181 et seq., authorizes Federal lessees and their representatives to unite with each other, or jointly or separately with others, in collectively adopting and operating under a unit plan of development or operations of all or any part of any oil and gas pool, field, or like area, for the purpose of more properly conserving the natural resources whenever determined and certified by the Secretary of the Interior to be necessary or advisable in the public interest.
The Phoenix Arizona Exploratory Unit Agreement is a legal document that establishes the terms and conditions for the exploration and production of natural resources in the state of Arizona, specifically in the Phoenix region. This agreement outlines the rights, responsibilities, and obligations of the parties involved in the exploration activities, including the landowners, operators, and government authorities. One important aspect of the Phoenix Arizona Exploratory Unit Agreement is the identification of the specific geographic area or unit where the exploration activities will take place. This unit refers to a designated area of land, typically encompassing multiple leases, where the exploration and production activities will be concentrated. The agreement specifies the boundaries and dimensions of this unit and highlights any exclusions or modifications to the standard unit size. There can be different types of Phoenix Arizona Exploratory Unit Agreements, depending on the nature of the natural resources being explored and the specific objectives of the exploration. For instance, there might be agreements related to oil and gas exploration, mineral extraction, or other valuable resources found in the Phoenix area. Another important component of the Phoenix Arizona Exploratory Unit Agreement is the allocation of interests and rights among the various stakeholders involved. This includes the allocation of working interests, royalty interests, and overriding royalty interests, which determine each party's share of the production revenues, costs, and expenses associated with the exploration activities. The agreement also covers provisions related to operational and environmental considerations. It may include clauses on drilling and production operations, well spacing and density requirements, environmental protection measures, and adherence to applicable federal, state, and local regulations. Additionally, the Phoenix Arizona Exploratory Unit Agreement typically addresses the duration of the agreement, providing a timeline for the initial term and any potential extension periods. It may also include provisions for the termination or suspension of the agreement due to non-compliance, force majeure events, or other designated circumstances. Overall, the Phoenix Arizona Exploratory Unit Agreement is a crucial legal document that governs the exploration and production activities in the Phoenix region. Its purpose is to establish clear rights, responsibilities, and obligations to ensure the proper and sustainable development of natural resources while protecting the interests of all parties involved.The Phoenix Arizona Exploratory Unit Agreement is a legal document that establishes the terms and conditions for the exploration and production of natural resources in the state of Arizona, specifically in the Phoenix region. This agreement outlines the rights, responsibilities, and obligations of the parties involved in the exploration activities, including the landowners, operators, and government authorities. One important aspect of the Phoenix Arizona Exploratory Unit Agreement is the identification of the specific geographic area or unit where the exploration activities will take place. This unit refers to a designated area of land, typically encompassing multiple leases, where the exploration and production activities will be concentrated. The agreement specifies the boundaries and dimensions of this unit and highlights any exclusions or modifications to the standard unit size. There can be different types of Phoenix Arizona Exploratory Unit Agreements, depending on the nature of the natural resources being explored and the specific objectives of the exploration. For instance, there might be agreements related to oil and gas exploration, mineral extraction, or other valuable resources found in the Phoenix area. Another important component of the Phoenix Arizona Exploratory Unit Agreement is the allocation of interests and rights among the various stakeholders involved. This includes the allocation of working interests, royalty interests, and overriding royalty interests, which determine each party's share of the production revenues, costs, and expenses associated with the exploration activities. The agreement also covers provisions related to operational and environmental considerations. It may include clauses on drilling and production operations, well spacing and density requirements, environmental protection measures, and adherence to applicable federal, state, and local regulations. Additionally, the Phoenix Arizona Exploratory Unit Agreement typically addresses the duration of the agreement, providing a timeline for the initial term and any potential extension periods. It may also include provisions for the termination or suspension of the agreement due to non-compliance, force majeure events, or other designated circumstances. Overall, the Phoenix Arizona Exploratory Unit Agreement is a crucial legal document that governs the exploration and production activities in the Phoenix region. Its purpose is to establish clear rights, responsibilities, and obligations to ensure the proper and sustainable development of natural resources while protecting the interests of all parties involved.
