Unit Operating Agreement definition

Unit Operating Agreement means an agreement made between the Licensees and the unit operator that, among other things, establishes the rights and obligations of the Licensees and the unit operator including, but not limited to, the allocation of costs and liabilities incurred in and benefits derived from operations in the Unit Area.

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Unit Operating Agreement means any and all agreements entered into by the Unit Operator and the Working Interest Owners, as described in Article 8 of this Agreement.

Unit Operating Agreement. ’ means an agreement made be- tween the Licensees and the unit operator that, among other things, establishes the rights and obligations of the Licensees and the unit operator including, but not limited to, the alloca- tion of costs and liabilities incurred in and benefits derived from operations in the Unit Area.

Examples of Unit Operating Agreement in a sentence

The Grantor shall not include the Royalty Lands or any part or parts thereof in a Unit Agreement or a Unit Operating Agreement for the unitized development and/or operation thereof with other lands without the consent of the Royalty Owner, which shall not be unreasonably withheld.
The Executive Agencies shall require that the Licensees submit an executed Unit Operating Agreement prior to the approval of the unitization agreement.
In case of a conflict between the Unit Operating Agreement and the unitization agreement, the unitization agreement shall prevail, or between the unitization agreement and this Agreement, the provisions of this Agreement shall prevail.
By signing this Agreement, the Parties confirm that the Point Thomson Unit, the PTUA, and the Point Thomson Unit Operating Agreement have remained in effect since originally approved, and remain in effect as of the date of this Agreement as modified by this Agreement.
If no unitization agreement and associated Unit Operating Agreement has been approved within 90 days of submission of the issue to the Joint Commission, Exploitation of the Transboundary Reservoir may proceed pursuant to paragraph 5 of this Article.

More Definitions of Unit Operating Agreement

Unit Operating Agreement means the Unit Operating Agreement referred to in the Unit Agreement, as amended;

Unit Operating Agreement means an agreement, providing for the management and operation of a unit area and a unitized zone, that is entered into by working interest owners who are parties to a unit agreement with respect to that unit area and unitized zone, and includes a unit operating agreement as varied by a unitization order;

Unit Operating Agreement means that certain unit operating agreement dated August 5, 1952, covering the Delhi ▇▇▇▇ ▇▇▇▇▇▇ Unit, as may be amended, and which is attached hereto as Exhibit J.

Unit Operating Agreement is defined as and shall mean any agreement or agreements (whether one or more) entered into (separately or collectively) by and between the Unit Operator and the Working Interest Owners as provided in Article IX infra., and shall be styled “Unit Operating Agreement, ▇▇▇▇▇▇ Jal Unit, Lea County, New Mexico”.

Unit Operating Agreement means that certain Rocky Mountain Unit Operating Agreement Form 2 (Divided Interest) 1994 Version, as modified pursuant to the terms and conditions set forth on Exhibit "C-1", attached hereto and made a part hereof.

Unit Operating Agreement means the Unit Operating Agreement, dated as of November 1, 1964, among the City, the State and certain Working Interest Owners, relating to the development and operation of the Unitized Formations and the Unitized Area.

Unit Operating Agreement means that certain Unit Operating Agreement, Santa ▇▇▇▇▇ Unit, Channel Islands Area, Outer Continental Shelf, Offshore, California, dated as of March 15, 1973, as amended from time to time.