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 Los Angeles California Gas Storage and Secondary Recovery Unit Agreement refers to a legal contract or agreement that governs the operation and utilization of gas storage and secondary recovery units in the Los Angeles area. This agreement outlines the terms and conditions under which gas storage facilities are managed, maintained, and used for storing natural gas. Gas storage facilities play a crucial role in ensuring a reliable supply of natural gas to meet the energy demands of Los Angeles and its surrounding regions. These facilities provide a mechanism for storing excess natural gas during periods of low demand, such as summer months when the demand for natural gas is relatively low. This stored gas can then be utilized during high-demand periods when the supply may be limited, ensuring a stable and uninterrupted flow of natural gas to consumers. The Gas Storage and Secondary Recovery Unit Agreement is designed to regulate the operations of such storage facilities and establish guidelines for their usage. It covers various aspects, including facility access, capacity allocation, storage rates, safety measures, environmental regulations, and the rights and responsibilities of the parties involved. Additionally, there might be different types of Gas Storage and Secondary Recovery Unit Agreements in Los Angeles, California, depending on the specific facility, ownership structure, or purpose of the agreement. Some variations may include agreements specific to underground storage facilities, agreements for above-ground storage facilities, agreements for gas storage within depleted oil and gas reservoirs, and agreements tailored for secondary recovery units that extract additional hydrocarbons from reservoirs beyond their natural depletion stage. Overall, the Los Angeles California Gas Storage and Secondary Recovery Unit Agreement is an integral legal tool that facilitates the efficient and organized management of gas storage facilities, ensuring a reliable supply of natural gas for the region's energy needs.The Los Angeles California Gas Storage and Secondary Recovery Unit Agreement refers to a legal contract or agreement that governs the operation and utilization of gas storage and secondary recovery units in the Los Angeles area. This agreement outlines the terms and conditions under which gas storage facilities are managed, maintained, and used for storing natural gas. Gas storage facilities play a crucial role in ensuring a reliable supply of natural gas to meet the energy demands of Los Angeles and its surrounding regions. These facilities provide a mechanism for storing excess natural gas during periods of low demand, such as summer months when the demand for natural gas is relatively low. This stored gas can then be utilized during high-demand periods when the supply may be limited, ensuring a stable and uninterrupted flow of natural gas to consumers. The Gas Storage and Secondary Recovery Unit Agreement is designed to regulate the operations of such storage facilities and establish guidelines for their usage. It covers various aspects, including facility access, capacity allocation, storage rates, safety measures, environmental regulations, and the rights and responsibilities of the parties involved. Additionally, there might be different types of Gas Storage and Secondary Recovery Unit Agreements in Los Angeles, California, depending on the specific facility, ownership structure, or purpose of the agreement. Some variations may include agreements specific to underground storage facilities, agreements for above-ground storage facilities, agreements for gas storage within depleted oil and gas reservoirs, and agreements tailored for secondary recovery units that extract additional hydrocarbons from reservoirs beyond their natural depletion stage. Overall, the Los Angeles California Gas Storage and Secondary Recovery Unit Agreement is an integral legal tool that facilitates the efficient and organized management of gas storage facilities, ensuring a reliable supply of natural gas for the region's energy needs.
