Examples of Unit Area in a sentence
This Ratification and Joinder shall be effective as to the undersigned's interests in any lands and leases, or interests therein, and royalties presently held or which may arise under existing option agreements or other interests in unitized substances, covering the lands within the Unit Area in which the undersigned may be found to have an oil or gas interest.
Exhibit "B" attached hereto is a schedule showing to the extent known to the Unit Operator the acreage, percentage and kind of ownership of oil and gas interests in all land in the Unit Area.
Inasmuch as the objective of this Unit Agreement is to have lands in the Unit Area operated and entitled to participation under the terms hereof, no joinder shall be considered a commitment to this Unit Agreement unless the tract involved is qualified under this section.
After the effective date of this Agreement, the commitment of any interest in any tract within the Unit Area shall be upon such equitable terms as may be negotiated by Working Interest Owners and the owner of such interest.
Exhibit "A" shows in addition to the boundary of the Unit Area, the boundaries and identity of tracts and leases in said area to the extent known to the Unit Operator.