This form is used for the purposes of more effectively developing, producing, and operating the Unit Area in order to prevent surface and underground waste, and obtain the greatest ultimate recovery of production of oil and gas, promote conservation, and to afford each of the Parties the right to recover their fair and equitable share of the production to be obtained from the Unit Area, or to receive the attributable proceeds of such production.
The Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement is a legal contract between parties involved in the gas industry. It outlines the terms and conditions for the storage and secondary recovery of natural gas within the city of Chicago, Illinois. This agreement serves as a crucial tool for ensuring efficient and effective utilization of gas resources, while maintaining compliance with local and federal laws and regulations. The primary purpose of the Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement is to establish a framework for the storage of natural gas. Different types of agreements may exist within this framework, catering to various stakeholders in the gas industry. Some of the key agreements that fall under this category include: 1. Storage Facility Agreement: This agreement outlines the terms and conditions regarding the use and operation of a gas storage facility within the city of Chicago. It typically covers aspects such as storage capacity, injection and withdrawal rates, scheduling procedures, and cost allocation between the parties involved. 2. Pipeline Transportation Agreement: This agreement pertains to the transportation of natural gas through pipelines connected to the storage facility. It defines the terms of gas transportation, including delivery points, quantity, and pricing. Additionally, it may address issues related to balancing responsibilities and operational requirements. 3. Compression Services Agreement: This type of agreement focuses on the provision of compression services required for gas storage and secondary recovery operations. It delineates important aspects such as the equipment specifications, operating requirements, maintenance responsibilities, and cost sharing arrangements for compression services. 4. Secondary Recovery Agreement: This agreement relates specifically to the processes and activities associated with secondary recovery techniques, such as gas re-pressurization or enhanced gas recovery methods. It establishes the responsibilities, rights, and obligations of the parties involved in implementing secondary recovery operations. The Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement plays a vital role in the efficient utilization of gas resources. It ensures that gas storage facilities operate smoothly, gas transportation is seamless, necessary compression services are provided, and secondary recovery processes are effectively implemented. By establishing clear rights, responsibilities, and guidelines, this agreement promotes collaboration and adherence to industry best practices, ultimately contributing to the sustainable and reliable supply of natural gas in the Chicago area.The Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement is a legal contract between parties involved in the gas industry. It outlines the terms and conditions for the storage and secondary recovery of natural gas within the city of Chicago, Illinois. This agreement serves as a crucial tool for ensuring efficient and effective utilization of gas resources, while maintaining compliance with local and federal laws and regulations. The primary purpose of the Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement is to establish a framework for the storage of natural gas. Different types of agreements may exist within this framework, catering to various stakeholders in the gas industry. Some of the key agreements that fall under this category include: 1. Storage Facility Agreement: This agreement outlines the terms and conditions regarding the use and operation of a gas storage facility within the city of Chicago. It typically covers aspects such as storage capacity, injection and withdrawal rates, scheduling procedures, and cost allocation between the parties involved. 2. Pipeline Transportation Agreement: This agreement pertains to the transportation of natural gas through pipelines connected to the storage facility. It defines the terms of gas transportation, including delivery points, quantity, and pricing. Additionally, it may address issues related to balancing responsibilities and operational requirements. 3. Compression Services Agreement: This type of agreement focuses on the provision of compression services required for gas storage and secondary recovery operations. It delineates important aspects such as the equipment specifications, operating requirements, maintenance responsibilities, and cost sharing arrangements for compression services. 4. Secondary Recovery Agreement: This agreement relates specifically to the processes and activities associated with secondary recovery techniques, such as gas re-pressurization or enhanced gas recovery methods. It establishes the responsibilities, rights, and obligations of the parties involved in implementing secondary recovery operations. The Chicago, Illinois Gas Storage and Secondary Recovery Unit Agreement plays a vital role in the efficient utilization of gas resources. It ensures that gas storage facilities operate smoothly, gas transportation is seamless, necessary compression services are provided, and secondary recovery processes are effectively implemented. By establishing clear rights, responsibilities, and guidelines, this agreement promotes collaboration and adherence to industry best practices, ultimately contributing to the sustainable and reliable supply of natural gas in the Chicago area.
