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.
Houston Texas Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract entered into by a gas storage operator and a secondary recovery unit operator. This agreement pertains to the storage and secondary recovery of gas in the Houston, Texas area. The primary objective of this agreement is to establish the terms and conditions for the operation, maintenance, and utilization of the gas storage and secondary recovery facilities. It outlines the responsibilities and rights of both parties involved, ensuring efficient and safe operations. Keywords: Houston, Texas, gas storage, secondary recovery, unit agreement, contract, storage operator, secondary recovery unit operator, operation, maintenance, utilization, facilities, responsibilities, rights, efficient, safe operations. Different types of Houston Texas Gas Storage and Secondary Recovery Unit Agreements may include: 1. Storage Agreement: This type of agreement specifically focuses on the gas storage component, outlining the terms and conditions for leasing storage capacity, injection and withdrawal rights, payment structure, and liability arrangements. 2. Secondary Recovery Agreement: This agreement primarily deals with secondary recovery operations, which involve the extraction of additional gas from reservoirs using advanced techniques like gas re-injection or enhanced oil recovery (FOR). It covers the rights, obligations, and compensation related to the secondary recovery activities. 3. Comprehensive Agreement: This type of agreement combines both gas storage and secondary recovery operations. It provides a holistic framework for both parties to collaborate and manage all aspects of gas storage and secondary recovery, addressing issues such as facility utilization, coordination, and any shared costs or benefits. By tailoring the agreement to specific needs and circumstances, the operators can ensure a smooth and mutually beneficial partnership throughout the gas storage and secondary recovery processes. Keywords: types, storage agreement, secondary recovery agreement, comprehensive agreement, gas re-injection, enhanced oil recovery, FOR, leasing, injection rights, withdrawal rights, payment structure, liability arrangements, collaboration, holistic framework, partnership, gas storage, secondary recovery processes.Houston Texas Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract entered into by a gas storage operator and a secondary recovery unit operator. This agreement pertains to the storage and secondary recovery of gas in the Houston, Texas area. The primary objective of this agreement is to establish the terms and conditions for the operation, maintenance, and utilization of the gas storage and secondary recovery facilities. It outlines the responsibilities and rights of both parties involved, ensuring efficient and safe operations. Keywords: Houston, Texas, gas storage, secondary recovery, unit agreement, contract, storage operator, secondary recovery unit operator, operation, maintenance, utilization, facilities, responsibilities, rights, efficient, safe operations. Different types of Houston Texas Gas Storage and Secondary Recovery Unit Agreements may include: 1. Storage Agreement: This type of agreement specifically focuses on the gas storage component, outlining the terms and conditions for leasing storage capacity, injection and withdrawal rights, payment structure, and liability arrangements. 2. Secondary Recovery Agreement: This agreement primarily deals with secondary recovery operations, which involve the extraction of additional gas from reservoirs using advanced techniques like gas re-injection or enhanced oil recovery (FOR). It covers the rights, obligations, and compensation related to the secondary recovery activities. 3. Comprehensive Agreement: This type of agreement combines both gas storage and secondary recovery operations. It provides a holistic framework for both parties to collaborate and manage all aspects of gas storage and secondary recovery, addressing issues such as facility utilization, coordination, and any shared costs or benefits. By tailoring the agreement to specific needs and circumstances, the operators can ensure a smooth and mutually beneficial partnership throughout the gas storage and secondary recovery processes. Keywords: types, storage agreement, secondary recovery agreement, comprehensive agreement, gas re-injection, enhanced oil recovery, FOR, leasing, injection rights, withdrawal rights, payment structure, liability arrangements, collaboration, holistic framework, partnership, gas storage, secondary recovery processes.
