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 Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement is a vital contractual agreement in the energy industry, specifically concerning gas storage and secondary recovery operations in Fulton, Georgia. This agreement is crucial for regulating and ensuring the smooth functioning of gas storage facilities and secondary recovery units in the region. Fulton Georgia Gas Storage Agreement involves a legal framework, wherein gas storage companies, usually energy companies or utility providers, enter into an agreement with Fulton, Georgia authorities to lease underground storage facilities for storing natural gas. These storage facilities are essential for maintaining a stable supply of natural gas to meet the fluctuating demand in the region. The primary objective of the Fulton Georgia Gas Storage Agreement is to outline the terms and conditions, rights, and responsibilities between the storage company and the Fulton, Georgia authorities. This agreement covers various key aspects such as the duration of the lease, the quantity of gas to be stored, operational protocols, safety measures, and environmental regulations. The secondary recovery unit, as a part of the agreement, refers to the facilities or operations involved in the extraction of gas from depleted underground reservoirs. This process aims to recover additional gas reserves that may have been left behind during the primary production phase. Secondary recovery operations can include techniques like enhanced oil recovery (FOR) or enhanced gas recovery (EAR). Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement typically encompasses two main types: 1. Short-term Agreements: These agreements are generally for a duration of one to two years. They are suitable for companies that require temporary storage facilities due to fluctuations in demand or maintenance activities. Short-term agreements provide flexibility to adjust storage capacities based on market conditions. 2. Long-term Agreements: These agreements span several years, typically ranging from five to twenty years. Long-term agreements are essential for companies that require stable and continuous gas storage capacity. They provide a more secure and predictable storage solution, allowing companies to plan for the long term and ensure a reliable gas supply to their customers. In conclusion, the Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement plays a significant role in governing gas storage operations and secondary recovery activities in Fulton, Georgia. The agreement outlines the legal framework, responsibilities, and regulations necessary for smooth and efficient gas storage and secondary recovery operations.The Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement is a vital contractual agreement in the energy industry, specifically concerning gas storage and secondary recovery operations in Fulton, Georgia. This agreement is crucial for regulating and ensuring the smooth functioning of gas storage facilities and secondary recovery units in the region. Fulton Georgia Gas Storage Agreement involves a legal framework, wherein gas storage companies, usually energy companies or utility providers, enter into an agreement with Fulton, Georgia authorities to lease underground storage facilities for storing natural gas. These storage facilities are essential for maintaining a stable supply of natural gas to meet the fluctuating demand in the region. The primary objective of the Fulton Georgia Gas Storage Agreement is to outline the terms and conditions, rights, and responsibilities between the storage company and the Fulton, Georgia authorities. This agreement covers various key aspects such as the duration of the lease, the quantity of gas to be stored, operational protocols, safety measures, and environmental regulations. The secondary recovery unit, as a part of the agreement, refers to the facilities or operations involved in the extraction of gas from depleted underground reservoirs. This process aims to recover additional gas reserves that may have been left behind during the primary production phase. Secondary recovery operations can include techniques like enhanced oil recovery (FOR) or enhanced gas recovery (EAR). Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement typically encompasses two main types: 1. Short-term Agreements: These agreements are generally for a duration of one to two years. They are suitable for companies that require temporary storage facilities due to fluctuations in demand or maintenance activities. Short-term agreements provide flexibility to adjust storage capacities based on market conditions. 2. Long-term Agreements: These agreements span several years, typically ranging from five to twenty years. Long-term agreements are essential for companies that require stable and continuous gas storage capacity. They provide a more secure and predictable storage solution, allowing companies to plan for the long term and ensure a reliable gas supply to their customers. In conclusion, the Fulton Georgia Gas Storage and Secondary Recovery Unit Agreement plays a significant role in governing gas storage operations and secondary recovery activities in Fulton, Georgia. The agreement outlines the legal framework, responsibilities, and regulations necessary for smooth and efficient gas storage and secondary recovery operations.
