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.
Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract designed to regulate the storage and secondary recovery of gas resources in Fairfax, Virginia. This agreement sets the terms and conditions between the gas storage operator and the gas resource owner, ensuring the efficient and sustainable development and utilization of natural gas reserves. The primary objective of the Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement is to establish guidelines for the storage and secondary recovery of gas while safeguarding the rights and interests of all parties involved. It provides a framework for resource owners to lease their gas storage facilities to the operator, allowing for the long-term storage and retrieval of gas products. There are several types of Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement, including: 1. Underground Gas Storage Agreement: This agreement specifically focuses on the storage of gas resources in underground storage facilities. It outlines the terms and conditions regarding the rental, operation, maintenance, and withdrawal procedures for the stored gas. 2. Secondary Recovery Unit Agreement: This type of agreement is geared towards the secondary recovery of gas resources. It involves the implementation of techniques such as gas reinfection or enhanced oil recovery, aiming to increase the ultimate recovery of gas reserves. 3. Leasing Agreement: This agreement details the terms of leasing gas storage facilities from the operator. It covers aspects like lease duration, rental rates, operational responsibility, and facility access. 4. Regulatory Compliance Agreement: This agreement deals with regulatory requirements and compliance measures necessary for the gas storage and secondary recovery operations in Fairfax, Virginia. It ensures compliance with state and federal regulations, environmental standards, safety protocols, and reporting guidelines. The Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement plays a crucial role in maintaining a streamlined and organized gas storage and secondary recovery system. By providing a comprehensive and detailed framework, these agreements ensure the smooth functioning of gas operations, protection of resources, and adherence to industry best practices.Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract designed to regulate the storage and secondary recovery of gas resources in Fairfax, Virginia. This agreement sets the terms and conditions between the gas storage operator and the gas resource owner, ensuring the efficient and sustainable development and utilization of natural gas reserves. The primary objective of the Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement is to establish guidelines for the storage and secondary recovery of gas while safeguarding the rights and interests of all parties involved. It provides a framework for resource owners to lease their gas storage facilities to the operator, allowing for the long-term storage and retrieval of gas products. There are several types of Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement, including: 1. Underground Gas Storage Agreement: This agreement specifically focuses on the storage of gas resources in underground storage facilities. It outlines the terms and conditions regarding the rental, operation, maintenance, and withdrawal procedures for the stored gas. 2. Secondary Recovery Unit Agreement: This type of agreement is geared towards the secondary recovery of gas resources. It involves the implementation of techniques such as gas reinfection or enhanced oil recovery, aiming to increase the ultimate recovery of gas reserves. 3. Leasing Agreement: This agreement details the terms of leasing gas storage facilities from the operator. It covers aspects like lease duration, rental rates, operational responsibility, and facility access. 4. Regulatory Compliance Agreement: This agreement deals with regulatory requirements and compliance measures necessary for the gas storage and secondary recovery operations in Fairfax, Virginia. It ensures compliance with state and federal regulations, environmental standards, safety protocols, and reporting guidelines. The Fairfax Virginia Gas Storage and Secondary Recovery Unit Agreement plays a crucial role in maintaining a streamlined and organized gas storage and secondary recovery system. By providing a comprehensive and detailed framework, these agreements ensure the smooth functioning of gas operations, protection of resources, and adherence to industry best practices.
