Common Contracts
3 similar Pooling Agreement contracts
INITIAL CONSIDERATIONS – CROSS CONVEYED POOLING AGREEMENTPooling Agreement • October 2nd, 2019
The purpose of this agreement is to combine land to complete a spacing unit for the drilling and production of a petroleum substance by each party assigning an interest in its portion of the DSU to the other party. Careful consideration should be given to which form of pooling would best suit your situation. This is especially effective if pooling multiple zones. Also, a Cross Conveyed Pooling Agreement could ensure your assets are more secure in case your pooling partner succumbs to bankruptcy. However, a cross conveyance of interests can create issues such as infringement on AMI (Area of Mutual Interest) rights under an AMI agreement and creation of ROFR issues, as well as priority issues regarding caveating of newly cross conveyed interests. If a horizontal well is being drilled in an area with single LSD spacing, consider using a Horizontal Well Pooling Agreement. If this agreement is used to pool a freehold lease, it is recommended that a caveat be registered on the certificate of
INITIAL CONSIDERATIONS – CROSS CONVEYED POOLING AGREEMENTPooling Agreement • June 12th, 2019
The purpose of this agreement is to combine land to complete a spacing unit for the drilling and production of a petroleum substance by each party assigning an interest in its portion of the DSU to the other party. Careful consideration should be given to which form of pooling would best suit your situation. This is especially effective if pooling multiple zones. Also, a Cross Conveyed Pooling Agreement could ensure your assets are more secure in case your pooling partner succumbs to bankruptcy. However, a cross conveyance of interests can create issues such as infringement on AMI (Area of Mutual Interest) rights under an AMI agreement and creation of ROFR issues, as well as priority issues regarding caveating of newly cross conveyed interests. If a horizontal well is being drilled in an area with single LSD spacing, consider using a Horizontal Well Pooling Agreement. If this agreement is used to pool a freehold lease, it is recommended that a caveat be registered on the certificate of
INITIAL CONSIDERATIONS – CROSS CONVEYED POOLING AGREEMENTPooling Agreement • May 14th, 2019
The purpose of this agreement is to combine land to complete a spacing unit for the drilling and production of a petroleum substance by each party assigning an interest in its portion of the DSU to the other party. Careful consideration should be given to which form of pooling would best suit your situation. This is especially effective if pooling multiple zones. Also, a Cross Conveyed Pooling Agreement could ensure your assets are more secure in case your pooling partner succumbs to bankruptcy. However, a cross conveyance of interests can create issues such as infringement on AMI (Area of Mutual Interest) rights under an AMI agreement and creation of ROFR issues, as well as priority issues regarding caveating of newly cross conveyed interests. If a horizontal well is being drilled in an area with single LSD spacing, consider using a Horizontal Well Pooling Agreement. If this agreement is used to pool a freehold lease, it is recommended that a caveat be registered on the certificate of
