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 Nassau New York 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 outlines the terms and conditions for the construction, operation, and management of gas storage and secondary recovery unit facilities in Nassau County, New York. Gas storage and secondary recovery units play a crucial role in the energy industry by allowing the extraction, processing, and storage of natural gas resources. These units enable the efficient utilization of reservoirs and facilitate the replenishment and maintenance of gas supplies during periods of high demand or low production. The Nassau New York Gas Storage and Secondary Recovery Unit Agreement typically includes provisions related to the ownership and access rights to the gas storage facilities, as well as the responsibilities and liabilities of each party involved. It also defines the operational procedures, safety measures, environmental regulations, and reporting requirements that must be followed to ensure efficient and sustainable gas storage and recovery operations. Variations of the Nassau New York Gas Storage and Secondary Recovery Unit Agreement may exist depending on the specific project or parties involved. Some possible types of agreements could include: 1. Joint Venture Agreement: This type of agreement is formed between two or more entities who agree to collaborate on the construction and operation of the gas storage and secondary recovery unit. In this arrangement, parties pool their resources, expertise, and capital to develop and manage the facilities collectively. 2. Service Agreement: This agreement is typically entered into between the gas storage and secondary recovery unit operator and another party, such as a gas producer or supplier. It outlines the terms through which the operator will provide storage and recovery services to the other party, including the pricing, volume commitments, and duration of the services. 3. Lease Agreement: In some cases, the gas storage and secondary recovery unit facilities may be owned by one party while being leased or rented to another. A lease agreement would outline the rights and obligations of both the lessor (owner) and the lessee (tenant) regarding the use, maintenance, and payment for the facilities. 4. Construction and Operation Agreement: This type of agreement is specifically focused on the construction, commissioning, and operation of the gas storage and secondary recovery unit. It details the responsibilities of the construction contractor or operator in terms of design, engineering, procurement, construction, and ongoing operation and maintenance of the facilities. In summary, the Nassau New York Gas Storage and Secondary Recovery Unit Agreement is a comprehensive contract that governs the development and operation of gas storage and secondary recovery units in Nassau County, New York. The specific type of agreement may vary depending on the parties involved and their unique requirements.The Nassau New York 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 outlines the terms and conditions for the construction, operation, and management of gas storage and secondary recovery unit facilities in Nassau County, New York. Gas storage and secondary recovery units play a crucial role in the energy industry by allowing the extraction, processing, and storage of natural gas resources. These units enable the efficient utilization of reservoirs and facilitate the replenishment and maintenance of gas supplies during periods of high demand or low production. The Nassau New York Gas Storage and Secondary Recovery Unit Agreement typically includes provisions related to the ownership and access rights to the gas storage facilities, as well as the responsibilities and liabilities of each party involved. It also defines the operational procedures, safety measures, environmental regulations, and reporting requirements that must be followed to ensure efficient and sustainable gas storage and recovery operations. Variations of the Nassau New York Gas Storage and Secondary Recovery Unit Agreement may exist depending on the specific project or parties involved. Some possible types of agreements could include: 1. Joint Venture Agreement: This type of agreement is formed between two or more entities who agree to collaborate on the construction and operation of the gas storage and secondary recovery unit. In this arrangement, parties pool their resources, expertise, and capital to develop and manage the facilities collectively. 2. Service Agreement: This agreement is typically entered into between the gas storage and secondary recovery unit operator and another party, such as a gas producer or supplier. It outlines the terms through which the operator will provide storage and recovery services to the other party, including the pricing, volume commitments, and duration of the services. 3. Lease Agreement: In some cases, the gas storage and secondary recovery unit facilities may be owned by one party while being leased or rented to another. A lease agreement would outline the rights and obligations of both the lessor (owner) and the lessee (tenant) regarding the use, maintenance, and payment for the facilities. 4. Construction and Operation Agreement: This type of agreement is specifically focused on the construction, commissioning, and operation of the gas storage and secondary recovery unit. It details the responsibilities of the construction contractor or operator in terms of design, engineering, procurement, construction, and ongoing operation and maintenance of the facilities. In summary, the Nassau New York Gas Storage and Secondary Recovery Unit Agreement is a comprehensive contract that governs the development and operation of gas storage and secondary recovery units in Nassau County, New York. The specific type of agreement may vary depending on the parties involved and their unique requirements.
