UNIT AREA Sample Clauses

UNIT AREA. The following described land is hereby designated and recognized as constituting the unit area[Attach additional pages if needed.] Township , Range , N.M.P.M. Section Subdivisions Section Subdivisions Containing total acres, more or less. Counties: 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. 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 lands in the unit area. However, nothing herein or in Exhibits "A" and "B" shall be construed as a representation by any party hereto as to the ownership of any interest other than such interest or interests as are shown in the Exhibits as owned by such party. Exhibits "A" and "B" shall be revised by the Unit Operator whenever changes in the unit area or in the ownership interests in the individual tracts render such revision necessary, or when requested by the Authorized Officer, hereinafter referred to as "AO", or when requested by the Commissioner of Public Lands of the State of New Mexico, hereinafter referred to as "Land Commissioner", and not less than four (4) copies of the revised Exhibits shall be filed with the proper Bureau of Land Management office, and one (1) copy thereof shall be filed with the Land Commissioner, and one (1) copy with the New Mexico Oil Conservation Division of the Energy and Minerals Department, hereinafter referred to as "Division". The above-described unit area shall, when practicable, be expanded to include therein any additional lands or shall be contracted to exclude lands whenever such expansion or contraction is deemed to be necessary or advisable to conform with the purposes of this agreement. Such expansion or contraction shall be effected in the following manner:
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UNIT AREA. The area described in a unit agreement as constituting the land logically subject to development under such agreement. (e)
Sample 1
UNIT AREA. T h e a r e a desc r ibed i n a n a g r xx x x x x x x co n s t i t u t i n g t h e l a n d logic a ll y s u bjec t t o explo r a t io n a n d/o r develop m e n t un de r s u c h a g r ee m e n t .
Sample 1
UNIT AREA. Th e ar e a desc r ibed i n an a g r xx x x x x x x co n s t i t u t i n g t h e l an d logic a ll y s u bjec t t o explo ra t io n an d/o r develop m e n t un de r s u c h a g r ee m e n t . Unitized la nd. Th ose l an ds an d fo r m a- t io n s wi t h i n a un i t ar e a w h ic h ar e co m - m i tt ed t o an a pp r oved a g r ee m e n t o r pl an . Unitized substances. Deposi t s of oil an d g a s co n t a i n ed i n t h e un i t ized l an d w h ic h ar e r ecove ra ble i n p ay i n g q uan- t i t ies b y ope ra t io n un de r an d p ur s uan t t o an a g r ee m e n t .
Sample 1
UNIT AREA. The area described in an agreement as constituting the land logically subject to exploration and/or development under such agreement. Unitized land. Those lands and forma- tions within a unit area which are com- mitted to an approved agreement or plan. Unitized substances. Deposits of oil and gas contained in the unitized land which are recoverable in paying quan- tities by operation under and pursuant to an agreement. Working interest. An interest held in unitized substances or in lands con- taining the same by virtue of a lease, operating agreement, fee title, or oth- erwise, under which, except as other- wise provided in the agreement, the owner of such interest is vested with the right to explore for, develop, and 43 CFR Ch. II (10–1–15 Edition) produce such substances. The rights delegated to the unit operator by the unit agreement are not regarded as a working interest. [48 FR 26766, June 10, 1983. Redesignated and amended at 48 FR 36587, Aug. 12, 1983; 51 FR 34603, Sept. 30, 1986] Subpart 3181—Application for Unit Agreement § 3181.1 Preliminary consideration of unit agreement. The model unit agreement set forth in § 3186.1 of this title, is acceptable for use in unproven areas. Unique situa- tions requiring special provisions should be clearly identified, since these and other special conditions may ne- cessitate a modification of the model unit agreement set forth in § 3186.1 of this title. Any proposed special provi- sions or other modifications of the model agreement should be submitted for preliminary consideration so that any necessary revision may be pre- scribed prior to execution by the inter- ested parties. Where Federal lands con- stitute less than 10 percent of the total unit area, a non-Federal unit agree- ment may be used. Upon submission of such an agreement, the authorized offi- cer will take appropriate action to commit the Federal lands. § 3181.2 Designation of unit area; depth of test well.
Sample 1
UNIT AREA. The Unit Agreement defines “unit area” as “the area inside the boundaries defined by the geographical co-ordinates and their corresponding UTM co-ordinates,” which are set forth in the agreement. Typically, a map of the unit area is also included. Figure 2 shows the complexity of defining the “unit area” for the Pre-Salt. What will be the areal boundary for the area? In that regard, how many units initially will comprise the Pre-Salt? There are several possible approaches. Historically, unitization has occurred for an interval of the subsurface which has a reservoir in pressure communication that crosses a boundary. Using Figure 2, there would be three units: Xxxxxxxxx 0 (Xxxxxx X, X, xxx X), Xxxxxxxxx 2 (Blocks E, F, H, and I) and Reservoir 3 (Blocks C and F). However, this approach may well be counterintuitive to the goal of unitization of an area the size of the Pre-Salt – efficiency in operations. Another approach would be to unitize those reservoirs within the Pre-Salt that are “in communication.” This concept would group together those accumulations of hydrocarbons that are in direct and continuous contact, that belong to the same pressure regime, and have the same composition. Typically, communication occurs in adjacent and overlying reservoirs. Under this approach, any number of units could comprise the Pre-Salt depending on the properties of each reservoir vis-à-vis other reservoirs within the area. For example, Reservoirs 1 and 2 overlay each other and are likely in “communication.” Thus, those portions of Blocks A, B, E, F, H and I would be unitized. However, Reservoir 3 could not be unitized together with Reservoirs 1 and 2 because although Reservoir 3 extends over more than one block, it is at a lower depth than Reservoirs 1 and 2. Absent some evidence of “communication” between Reservoir 3 and either Reservoir 1 or 2, which is unlikely under the depths presented, Reservoir 3 would likely be a stand-alone unit. Yet another approach would be to unitize those reservoirs contained in a “field.” As explained above, Brazilian law currently mandates unitization of “fields” (“xxxxxx”) that extend over adjoining blocks. There is some ambiguity in the definition of “field.” As explained in Xxxxxxxx & Xxxxxx’x Manual of Oil and Gas Terms, “field” could mean an oil or gas deposit that is in natural pressure connection with any other deposit” or it could mean a geographic region situated over one or more subsurface oil and gas reservoirs such that a field...
Sample 1
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UNIT AREA. The following described land is hereby designated and recognized as constituting the unit area: [Attach another page if you need more space.] Township , Range , N.M.P.M. Section Subdivisions: Section Subdivisions: Section Subdivisions: Section Subdivisions: Containing total acres, more or less, in County(ies) New Mexico Exhibit "A" attached hereto is a map showing the unit area and the boundaries and identity of tracts and leases in said area to the extent known to the unit operator. 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 lands in the unit area. However, nothing herein or in said schedule or map shall be construed as a representation by any party hereto as to the ownership of any interest other than such interest or interests as are shown on said map or schedule as owned by such party. Exhibit "A" and "B" shall be revised by the unit operator whenever changes in ownership in the unit area render such revisions necessary or when requested by the Commissioner of Public Lands, hereinafter referred to as "Commissioner" or the Oil Conservation Division, hereinafter referred to as the "Division". All land committed to this agreement shall constitute land referred to herein as "unitized land" or "land subject to this agreement".
Sample 1

Related to UNIT AREA

  • Units Interests in the Partnership shall be represented by Units. The Units initially are comprised of one Class: Class A Units. The General Partner may establish, from time to time in accordance with such procedures as the General Partner shall determine from time to time, other Classes, one or more series of any such Classes, or other Partnership securities with such designations, preferences, rights, powers and duties (which may be senior to existing Classes and series of Units or other Partnership securities), as shall be determined by the General Partner, including (i) the right to share in Profits and Losses or items thereof; (ii) the right to share in Partnership distributions; (iii) the rights upon dissolution and liquidation of the Partnership; (iv) whether, and the terms and conditions upon which, the Partnership may or shall be required to redeem the Units or other Partnership securities (including sinking fund provisions); (v) whether such Unit or other Partnership security is issued with the privilege of conversion or exchange and, if so, the terms and conditions of such conversion or exchange; (vi) the terms and conditions upon which each Unit or other Partnership security will be issued, evidenced by certificates and assigned or transferred; (vii) the method for determining the Total Percentage Interest as to such Units or other Partnership securities; and (viii) the right, if any, of the holder of each such Unit or other Partnership security to vote on Partnership matters, including matters relating to the relative designations, preferences, rights, powers and duties of such Units or other Partnership securities. Except as expressly provided in this Agreement to the contrary, any reference to “Units” shall include the Class A Units and any other Classes that may be established in accordance with this Agreement. All Units of a particular Class shall have identical rights in all respects as all other Units of such Class, except in each case as otherwise specified in this Agreement.

  • Condominiums/Planned Unit Developments If the Mortgaged Property is a condominium unit or a planned unit development (other than a de minimis planned unit development) such condominium or planned unit development project such Mortgage Loan was originated in accordance with, and the Mortgaged Property meets the guidelines set forth in the Originator's Underwriting Guidelines;

  • Unit The fractional undivided interest in and ownership of an individual Trust Fund equal initially to 1/(the number of Units of fractional undivided interest outstanding) provided in the Statement of Condition in the Prospectus for the Trust Fund, the denominator of which fraction shall be (1) increased by the number of any additional Units issued pursuant to Section 2.03 hereof and (2) decreased by the number of any such Units redeemed as provided in Section 5.02. Whenever reference is made herein to the "interest" of a Unitholder in the Trust Fund or in the Income or Capital Accounts, it shall mean such fractional undivided interest represented by the number of Units, whether or not evidenced by a Certificate or Certificates, held of record by such Unitholder in such Trust Fund.

  • Area of Interest Any additional claims located or acquired by the Lessee within one (1) mile from the exterior boundaries of the mining claims described in Exhibit "A" shall become a part of the leased property and shall be subject to the terms of this lease as of the Effective Date.

  • Restricted Share Units Restricted Share Units means Restricted Share Units granted to Participant under the Plan subject to such terms and conditions as the Committee may determine at the time of issuance.

  • Development Rights The Employee agrees and declares that all proprietary information including but not limited to trade secrets, know-how, patents and other rights in connection therewith developed by or with the contribution of Employee's efforts during his employment with the Company shall be the sole property of the Company. Upon the Company's request (whenever made), Employee shall execute and assign to the Company all the rights in the proprietary information.

  • Award of Restricted Shares The Committee hereby awards to the Awardee [insert # of shares] Restricted Shares. All such Restricted Shares shall be subject to the restrictions and forfeiture provisions contained in Sections 4, 5 and 6, such restrictions and forfeiture provisions to become effective immediately upon execution of this Agreement by the parties hereto.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Share Award The Corporation hereby awards the Employee Shares (Shares) of Common Stock, par value $1.50 per share (Common Stock) of the Corporation pursuant to the 2007 Viad Corp Omnibus Incentive Plan (Plan), subject to the terms, conditions, and restrictions of such Plan and as hereinafter set forth.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

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