Common use of Pooling and Unitization Clause in Contracts

Pooling and Unitization. Notwithstanding anything in this Agreement, the Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Owner, provided that the Grantor, acting in a reasonable and prudent manner, determines that the pooling or unitization and the terms thereof are in accordance with prudent oil and gas industry practises.

Appears in 3 contracts

Samples: Royalty Agreement (Paramount Energy Trust), Royalty Agreement (Paramount Energy Trust), Royalty Agreement (Paramount Energy Trust)

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Pooling and Unitization. Notwithstanding anything in this Agreement, the The Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties Properties, from time to time, with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Ownerprovided that, provided that in the Grantor's sole discretion, acting in a reasonable and prudent manner, determines that the pooling or unitization is prudent and the terms thereof are in accordance with prudent normal oil and gas industry practisespractices.

Appears in 2 contracts

Samples: Royalty Agreement (Primewest Energy Trust), Primewest Royalty Agreement (Primewest Energy Trust)

Pooling and Unitization. Notwithstanding anything in this Agreement, the The Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties Property Interests, from time to time, with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Ownerprovided that, provided that in the Grantor's sole discretion, acting in a reasonable and prudent manner, determines that the pooling or unitization is prudent and the terms thereof are in accordance with prudent normal oil and gas industry practisespractices.

Appears in 1 contract

Samples: Net Profit Interests Agreement (Baytex Energy Trust)

Pooling and Unitization. Notwithstanding anything in this Agreement, the The Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties Property Interests, from time to time, with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Ownerprovided that, provided that in the Grantor’s sole discretion, acting in a reasonable and prudent manner, determines that the pooling or unitization is prudent and the terms thereof are in accordance with prudent normal oil and gas industry practisespractices.

Appears in 1 contract

Samples: Profit Interests Agreement (Baytex Energy LTD)

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Pooling and Unitization. Notwithstanding anything in this Agreement, the The Grantor shall have full right, power and authority to pool or unitize any of the Petroleum and Natural Gas Rights comprised in the Properties Properties, from time to time, with any other Petroleum and Natural Gas Rights without the prior consent of the Royalty Ownerprovided that, provided that in the Grantor’s sole discretion, acting in a reasonable and prudent manner, determines that the pooling or unitization is prudent and the terms thereof are in accordance with prudent normal oil and gas industry practisespractices.

Appears in 1 contract

Samples: Npi Agreement (Penn West Energy Trust)

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