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 Clark Nevada Gas Storage and Secondary Recovery Unit Agreement is a formal contract established between two parties involved in the gas storage and secondary recovery unit operations in Clark County, Nevada. This agreement outlines the terms, conditions, and obligations that govern the relationship between the gas storage operator and the secondary recovery unit operator. The primary purpose of this agreement is to establish a mutually beneficial arrangement for the storage and recovery of natural gas. Gas storage involves injecting natural gas into underground reservoirs during periods of low demand and withdrawing it during periods of high demand. On the other hand, secondary recovery refers to the process of extracting additional gas from a reservoir using various techniques such as water flooding, gas injection, or other enhanced recovery methods. There are a few different types of Clark Nevada Gas Storage and Secondary Recovery Unit Agreements, each tailored to specific needs and circumstances. These include: 1. Storage Facility Lease Agreement: This agreement pertains specifically to the leasing of the gas storage facilities located in Clark County, Nevada. It covers aspects such as access to the storage site, usage rights, and financial terms. 2. Injection and Withdrawal Agreement: This type of agreement focuses on the terms and conditions for the injection and subsequent withdrawal of natural gas from the storage reservoir. It includes provisions for gas volume, pressure, utilization, and scheduling. 3. Gas Ownership and Allocation Agreement: This agreement addresses the ownership rights of the stored gas and the allocation of gas among various parties involved in the agreement. It establishes rules for gas measurement, inventory tracking, and the allocation process. 4. Environmental Compliance Agreement: This agreement outlines the obligations of both parties regarding environmental compliance and risk mitigation. It covers aspects such as pollution prevention practices, emergency plans, and regulatory compliance. 5. Payment and Revenue Sharing Agreement: This type of agreement establishes the financial arrangements between the gas storage operator and the secondary recovery unit operator. It covers topics such as payment terms, revenue sharing mechanisms, and cost allocation. In conclusion, the Clark Nevada Gas Storage and Secondary Recovery Unit Agreement are comprehensive contracts that govern the relationship between gas storage and secondary recovery operators. It ensures smooth operations, outlines obligations, and safeguards the interests of both parties involved.The Clark Nevada Gas Storage and Secondary Recovery Unit Agreement is a formal contract established between two parties involved in the gas storage and secondary recovery unit operations in Clark County, Nevada. This agreement outlines the terms, conditions, and obligations that govern the relationship between the gas storage operator and the secondary recovery unit operator. The primary purpose of this agreement is to establish a mutually beneficial arrangement for the storage and recovery of natural gas. Gas storage involves injecting natural gas into underground reservoirs during periods of low demand and withdrawing it during periods of high demand. On the other hand, secondary recovery refers to the process of extracting additional gas from a reservoir using various techniques such as water flooding, gas injection, or other enhanced recovery methods. There are a few different types of Clark Nevada Gas Storage and Secondary Recovery Unit Agreements, each tailored to specific needs and circumstances. These include: 1. Storage Facility Lease Agreement: This agreement pertains specifically to the leasing of the gas storage facilities located in Clark County, Nevada. It covers aspects such as access to the storage site, usage rights, and financial terms. 2. Injection and Withdrawal Agreement: This type of agreement focuses on the terms and conditions for the injection and subsequent withdrawal of natural gas from the storage reservoir. It includes provisions for gas volume, pressure, utilization, and scheduling. 3. Gas Ownership and Allocation Agreement: This agreement addresses the ownership rights of the stored gas and the allocation of gas among various parties involved in the agreement. It establishes rules for gas measurement, inventory tracking, and the allocation process. 4. Environmental Compliance Agreement: This agreement outlines the obligations of both parties regarding environmental compliance and risk mitigation. It covers aspects such as pollution prevention practices, emergency plans, and regulatory compliance. 5. Payment and Revenue Sharing Agreement: This type of agreement establishes the financial arrangements between the gas storage operator and the secondary recovery unit operator. It covers topics such as payment terms, revenue sharing mechanisms, and cost allocation. In conclusion, the Clark Nevada Gas Storage and Secondary Recovery Unit Agreement are comprehensive contracts that govern the relationship between gas storage and secondary recovery operators. It ensures smooth operations, outlines obligations, and safeguards the interests of both parties involved.
