Pooled Unit definition

Pooled Unit means a spacing unit created by:
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Pooled Unit means the lands, formations and depths included within a unit that has been formed pursuant to or under a Contract, or has otherwise been approved by any applicable Governmental Authority.
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Pooled Unit means a unit formed by the joining or combining of separately owned leasehold interests pursuant to the pooling clauses of the leases or any other agreement authorizing such pooling.
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Examples of Pooled Unit in a sentence

  • Lessee shall not include acreage in a Pooled Unit if the Oil Products contained therein are not capable of commercial production.

  • Production of Oil Products from any part of a Pooled Unit shall be considered as operations for production of Oil Products from the land covered by this Lease, whether or not actually located on the premises covered by this Lease.

  • Subject to JOA dated 6/20/00 between Vintage Petroleum Inc., Palace Exploration Co., Xxxxx Petroleum Corp., Andex Resources LLC covering land within Pooled Unit for State Xxxxx 0-0X Xx. 0 xxxx (Xxxxx Xxxxx 0-0X Xx. 0 well).

  • Subject to JOA dated 3/6/00 between Vintage Petroleum Inc., Palace Exploration Co., Xxxxx Petroleum Corp., and Andex Resources LLC covering lands within the Pooled Unit for State Xxxxx 00 Xx. 0 (Xxxxx Xxxxx 00 Xx. 0 well).

  • The Xxxxxx Production Company Xxxx Xxxxx Gas Unit as described in Corrected Declaration of Pooled Unit of Record in Volume 162, Page 95, Oil and Gas Lease Records of Xxxxxxx, County, Texas, composed of 320 acres.

  • Dixel Resources Unit No. 2 - Declaration of Pooled Unit dated as of 7-15-71 and recorded in Volume 408 at Page III of said records and Unitization Agreement dated effective 7-8-71 and recorded in Volume 407 at Page 567 of said records.

  • By way of example, if Lessor's portion of the estimated reserves on the leased Premises are 60 million barrels, and the estimated reserves on the entire Pooled Unit are 100 million barrels, Lessor's Royalty would be reduced to 3/5 of the Royalty otherwise payable hereunder, but would be payable on the reserved contained on this Lease and any Pooled Unit hereunder.

  • Xxxxxxxxx Hawkeye Stratigraphic May 25, 1999 547/634 INCLUDING approximately 5.7 acres, more or less, of land lying within the interest pooled for the HLM Xxxxxxxxx No. 1 Unit as described in a Declaration of Pooled Unit recorded at Vox 000, Xx 000 Xxxxxxxxx Xxxxxx, Xxxxx; Leases associated with the Oxbow #1 well LESSOR LESSEE LEASE DATE EXPIRATION DATE GROSS ACRES ROYALTY SURVEY ABSTRACT RECORDING DATA (VOL/PAGE) Xxxxxx X.

  • Sabine Gas Unit - Declaration of Pooled Unit dated as of August 4, 1978 and recorded in Volume 531 at Pages 298, 303, 308, 313, 318 and 323 of said records.

  • By way of example, if Lessor's portion of the estimated reserves on the leased Premises are 60 million barrels, and the estimated reserves on the entire Pooled Unit are 100 million barrels, Lessor's Royalty would be reduced to 3/5 of the Royalty otherwise payable hereunder, but would be payable on the reserves contained in the entire Pooled Unit.


More Definitions of Pooled Unit

Pooled Unit as defined in Article 11.
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Pooled Unit means two or more tracts of land, of which their ownership may be different, that are consolidated and operated as a single tract for production of oil and/or gas, either by voluntary agreement between the owners thereof, or by exercising of the authority of the Board under the statute. When such tracts are consolidated by Board authority, the size of the consolidation tract shall not exceed the size, with permitted tolerance, of a "Drilling Unit" as herein defined. In no such case is there any actual change in the title or ownership of the original tracts.
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Related to Pooled Unit

  • Designated Unit means information technology devices (e.g. hard disks or central processing units) identified by Licensee pursuant to this Agreement that have been officially made known to the public as appropriate for Use or interoperation with the Software.

  • Said Unit means the said Flat, the said Vehicle Parking Space, (if any), and the right of common use of the Common Portions and wherever the context so intends or permits, shall also include the Said Undivided Share.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • Class D Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class D Unit as provided in this Agreement.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Restricted Unit means a Unit granted under the Plan that is subject to a Restricted Period.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • LTIP Unit means a Limited Partnership Interest which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.4 hereof and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • Phantom Unit means a notional Unit granted under the Plan which upon vesting entitles the Participant to receive, at the time of settlement, a Unit or an amount of cash equal to the Fair Market Value of a Unit, as determined by the Committee in its sole discretion.

  • Assisted Unit means a Unit that is subject to the Program’s rent and/or occupancy restrictions as a result of the financial assistance provided by the Program, as specified in the Regulatory Agreement.

  • Deferred Share Unit or “DSU” means a unit equivalent in value to a Share, credited by means of a bookkeeping entry in the books of the Corporation in accordance with Article 7;

  • Deferred Share means a Share which by its terms of issue is a deferred share as defined in the Statutes and includes a permanent interest bearing share and a Core Capital Deferred Share;

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Vested Units means those Units listed as vested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Share Unit means a unit credited by means of an entry on the books of the Corporation to a Participant pursuant to the Plan, representing the right to receive, subject to and in accordance with the Plan, for each Vested Share Unit one Share, at the time, in the manner, and subject to the terms, set forth in the Plan and the applicable Grant Agreement;

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Covered Units means: (i) during the period of the Employee’s employment with the Corporation, each business unit of the Corporation; and (ii) following the Employment Termination Date, each business unit of the Corporation in or for which the Employee was employed or to which the Employee provided services or about which the Employee obtained or had access to Confidential Information, in each case of this clause (ii) at any time within the twenty-four (24)-month period prior to the Employment Termination Date. The Employee acknowledges and agrees that if the Employee is or was employed at a segment level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of such segment; and if the Employee is or was employed at the corporate/headquarters level, the Employee is providing or has provided services to and for, and has obtained and has or had access to Confidential Information about, each business unit of the Corporation.

  • Dividend Equivalent Unit means the right to receive a payment, in cash or Shares, equal to the cash dividends or other cash distributions paid with respect to a Share.

  • Unit Share means a Common Share comprising part of each Unit;

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.