After approval, the unit contract enters into force.  However, the general interest requirement is met only if the unit operator conducts actual drilling and monitors these operations closely in accordance with the terms of the agreement.  If this requirement is not met, approval of the agreement and associations and rent renewals is not valid.  Supporting documents relating to the approved unit must be recorded in district files to report. 2. UNIT AREA. The area shown on the attached map entitled «Annex A» is designated and recognized as a single area containing more or less acres. In 2006, the Association of International Petroleum Diggers (AIPN) reached an agreement on single unity and unity; This model agreement is often used as a starting point for documenting the single unit within the upstream oil and gas industry. CONSIDERING that the Mineral Leasing Act of February 25, 1920, 41 Stat. 437, as amended, 30 U.S.C s. 181 ff., authorizes federal officials and their representatives to unite or together or separately with others, adopting and jointly operating a single plan for the development or operation of an oil and gas reserve. , a similar field or area or part of it, in order to better preserve natural resources if they are determined and certified by them. The Minister of the Interior, who is necessary or advised in the public interest; and 4 30.
There is no provision in this agreement prohibiting the exercise of the right that the contracting party has transferred through a lease, sublease or operating contract to the areas or part of the land covered for this purpose, provided that any party acquiring or could acquire such shares of work through such a task or forfeiture is subject to the terms of this agreement. , as noted below. CONSIDERING that the parties are the owners of labour, royalty or other oil and gas interests in the unit division governed by this agreement; and the agreement that was reached on the date – by and between the parties who sign, ratify or approve it, and which is referred to as «parties to that convention» 3. UNIQUE COUNTRY AND UNIQUE MATERIALS. All lands that are currently or subsequently subject to this agreement are lands designated as «country of unity» or «country subject to this agreement.» All oils and gases present in all formations of the unified country are combined under the conditions set out in this agreement and are referred to as «unitary substances». (c) during this initial period or an extension on unit surfaces, a valuable discovery of unit substances in paid quantities has been made or accepted, in the event that this agreement remains in force for this period and for a long time after, since unit substances can be produced in sufficient quantities to cover the manufacturing costs of the same wells on unit surfaces in each affected area stipulated in that sub-commission.
- Posted by wbase
- On 14 abril, 2021
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