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.
Harris Texas Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract entered into by parties involved in the oil and gas industry. This agreement primarily focuses on gas storage and secondary recovery operations in Harris County, Texas. The purpose of the agreement is to establish the terms and conditions under which the gas storage facility and secondary recovery operations will be conducted. It outlines the rights, responsibilities, and obligations of all parties involved, ensuring a smooth and efficient operation. The Harris Texas Gas Storage and Secondary Recovery Unit Agreement typically contains various key elements, including: 1. Parties Involved: The agreement clearly identifies all the parties involved, such as the gas storage facility operator, the secondary recovery unit, and any other participating entities. 2. Storage and Recovery Facilities: The agreement specifies the location, size, and capacity of the gas storage facility and secondary recovery unit in Harris County, Texas. 3. Duration: It defines the duration of the agreement, including any renewal options or termination clauses. 4. Injection and Withdrawal: The agreement delineates the procedures and protocols for injecting gas into the storage facility and subsequent withdrawal for commercial use. This includes specifications regarding volumes, pressures, and testing requirements. 5. Ownership and Liability: The agreement addresses ownership rights and liabilities of the gas stored within the facility during the storage period. It also clarifies responsibility for any losses or damages arising from storage or recovery operations. 6. Gas Pricing: The agreement may include provisions for the pricing and payment terms related to gas storage and secondary recovery services. This ensures a fair and transparent transaction between the parties involved. There may be various types of Harris Texas Gas Storage and Secondary Recovery Unit Agreements based on the specific requirements, scale, and nature of the operation. Different agreements may cater to varying volumes of gas storage, specific recovery techniques, or unique contractual arrangements. Some potential types of Harris Texas Gas Storage and Secondary Recovery Unit Agreements could include: 1. Short-Term Storage Agreement: This type of agreement is suitable for temporary gas storage needs, typically spanning a few months to a year. 2. Long-Term Storage Agreement: Designed for prolonged storage requirements, this agreement may cover storage durations extending over many years. 3. Enhanced Oil Recovery (FOR) Agreement: This type of agreement emphasizes the use of secondary recovery techniques, such as water flooding or gas injection, to extract additional oil from reservoirs. It involves the storage of gas used for the FOR process. 4. Underground Storage Agreement: Specifically catering to gas storage in underground facilities, this agreement outlines the responsibilities, rights, and procedures related to underground storage operations. In conclusion, the Harris Texas Gas Storage and Secondary Recovery Unit Agreement is a comprehensive contract that governs gas storage and secondary recovery activities in Harris County, Texas. Its terms and conditions ensure effective utilization of the storage facility and facilitate seamless secondary recovery operations.Harris Texas Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract entered into by parties involved in the oil and gas industry. This agreement primarily focuses on gas storage and secondary recovery operations in Harris County, Texas. The purpose of the agreement is to establish the terms and conditions under which the gas storage facility and secondary recovery operations will be conducted. It outlines the rights, responsibilities, and obligations of all parties involved, ensuring a smooth and efficient operation. The Harris Texas Gas Storage and Secondary Recovery Unit Agreement typically contains various key elements, including: 1. Parties Involved: The agreement clearly identifies all the parties involved, such as the gas storage facility operator, the secondary recovery unit, and any other participating entities. 2. Storage and Recovery Facilities: The agreement specifies the location, size, and capacity of the gas storage facility and secondary recovery unit in Harris County, Texas. 3. Duration: It defines the duration of the agreement, including any renewal options or termination clauses. 4. Injection and Withdrawal: The agreement delineates the procedures and protocols for injecting gas into the storage facility and subsequent withdrawal for commercial use. This includes specifications regarding volumes, pressures, and testing requirements. 5. Ownership and Liability: The agreement addresses ownership rights and liabilities of the gas stored within the facility during the storage period. It also clarifies responsibility for any losses or damages arising from storage or recovery operations. 6. Gas Pricing: The agreement may include provisions for the pricing and payment terms related to gas storage and secondary recovery services. This ensures a fair and transparent transaction between the parties involved. There may be various types of Harris Texas Gas Storage and Secondary Recovery Unit Agreements based on the specific requirements, scale, and nature of the operation. Different agreements may cater to varying volumes of gas storage, specific recovery techniques, or unique contractual arrangements. Some potential types of Harris Texas Gas Storage and Secondary Recovery Unit Agreements could include: 1. Short-Term Storage Agreement: This type of agreement is suitable for temporary gas storage needs, typically spanning a few months to a year. 2. Long-Term Storage Agreement: Designed for prolonged storage requirements, this agreement may cover storage durations extending over many years. 3. Enhanced Oil Recovery (FOR) Agreement: This type of agreement emphasizes the use of secondary recovery techniques, such as water flooding or gas injection, to extract additional oil from reservoirs. It involves the storage of gas used for the FOR process. 4. Underground Storage Agreement: Specifically catering to gas storage in underground facilities, this agreement outlines the responsibilities, rights, and procedures related to underground storage operations. In conclusion, the Harris Texas Gas Storage and Secondary Recovery Unit Agreement is a comprehensive contract that governs gas storage and secondary recovery activities in Harris County, Texas. Its terms and conditions ensure effective utilization of the storage facility and facilitate seamless secondary recovery operations.
