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 Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract established between parties involved in the gas storage and secondary recovery activities in Wayne, Michigan. This agreement outlines the terms and conditions under which the gas storage and secondary recovery operations will be conducted, ensuring mutual understanding and cooperation among the parties involved. The primary purpose of this agreement is to facilitate the extraction, storage, and utilization of natural gas reserves found in Wayne, Michigan. It aims to streamline the process of gas storage and secondary recovery by establishing clear guidelines for operations, responsibilities, and rights of each party involved. Under the Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement, there may be different types based on the specific terms and conditions included. Some common variations of this agreement include: 1. Operational Guidelines: This type of agreement focuses on defining the working procedures and responsibilities of each party involved in gas storage and secondary recovery operations. It covers aspects such as well drilling, reservoir management, data sharing, monitoring, and reporting requirements. 2. Cost-Sharing Agreements: In some cases, this agreement may include provisions related to cost-sharing among the parties involved. This ensures that the expenses associated with gas storage and secondary recovery activities are fairly distributed according to agreed-upon ratios or formulas. 3. Ownership and Allocation: This type of agreement addresses the ownership rights and allocation of produced gas among the parties involved. It defines how the gas will be shared, sold, or utilized, and establishes the criteria for measuring and attributing the production from the storage and recovery activities. 4. Environmental and Safety Considerations: This variation of the agreement focuses on the environmental and safety aspects associated with gas storage and secondary recovery operations. It outlines the obligations of each party to comply with applicable laws and regulations, establish safety protocols, and implement environmental protection measures. 5. Termination and Dispute Resolution: The agreement may also include provisions related to the termination of the contract and procedures for resolving any potential disputes that may arise during the course of the gas storage and secondary recovery activities. Overall, the Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement serve as an essential tool for managing the extraction, storage, and utilization of natural gas resources in Wayne, Michigan. By clearly defining the roles, responsibilities, and rights of the parties involved, it ensures the smooth operation of gas storage and secondary recovery activities while promoting cooperation and compliance with applicable regulations.The Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement is a legally binding contract established between parties involved in the gas storage and secondary recovery activities in Wayne, Michigan. This agreement outlines the terms and conditions under which the gas storage and secondary recovery operations will be conducted, ensuring mutual understanding and cooperation among the parties involved. The primary purpose of this agreement is to facilitate the extraction, storage, and utilization of natural gas reserves found in Wayne, Michigan. It aims to streamline the process of gas storage and secondary recovery by establishing clear guidelines for operations, responsibilities, and rights of each party involved. Under the Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement, there may be different types based on the specific terms and conditions included. Some common variations of this agreement include: 1. Operational Guidelines: This type of agreement focuses on defining the working procedures and responsibilities of each party involved in gas storage and secondary recovery operations. It covers aspects such as well drilling, reservoir management, data sharing, monitoring, and reporting requirements. 2. Cost-Sharing Agreements: In some cases, this agreement may include provisions related to cost-sharing among the parties involved. This ensures that the expenses associated with gas storage and secondary recovery activities are fairly distributed according to agreed-upon ratios or formulas. 3. Ownership and Allocation: This type of agreement addresses the ownership rights and allocation of produced gas among the parties involved. It defines how the gas will be shared, sold, or utilized, and establishes the criteria for measuring and attributing the production from the storage and recovery activities. 4. Environmental and Safety Considerations: This variation of the agreement focuses on the environmental and safety aspects associated with gas storage and secondary recovery operations. It outlines the obligations of each party to comply with applicable laws and regulations, establish safety protocols, and implement environmental protection measures. 5. Termination and Dispute Resolution: The agreement may also include provisions related to the termination of the contract and procedures for resolving any potential disputes that may arise during the course of the gas storage and secondary recovery activities. Overall, the Wayne Michigan Gas Storage and Secondary Recovery Unit Agreement serve as an essential tool for managing the extraction, storage, and utilization of natural gas resources in Wayne, Michigan. By clearly defining the roles, responsibilities, and rights of the parties involved, it ensures the smooth operation of gas storage and secondary recovery activities while promoting cooperation and compliance with applicable regulations.
