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Fill Out Pooling Agreement

Fill Out Pooling Agreement

Aug 6th, 2022

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How to Fill Out Pooling Agreement

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A pooling agreement can significantly impact mineral rights on a property by allowing petroleum products beneath the surface to be pooled across multiple properties. For instance, an oil well may extract resources from a larger underground pool that spans multiple legal parcels. This agreement ensures that royalties and mineral rights from oil or mineral extraction are fairly credited to all participating properties, even if the extraction site is located on a different property. Property owners with mineral rights should verify the existence of any pooling agreements to ensure they receive any benefits and royalties due to them. For inquiries about researching mineral rights or real estate records, you can reach out to the provided resource.

Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

What is a pooling agreement?

A pooling agreement is a type of contract in which shareholders of a corporation create a voting trust by pooling their voting rights and transferring them to a trustee. This is also called a voting agreement or shareholder-control agreement since it is used to control the affairs of the corporation.

What is a non cross conveyed pooling agreement?

Clearly all the magic words in a non-cross conveyed pooling agreement state that the parties do not cross convey. The agreement typically will terminate after all wells in the pooled zone have been abandoned and thereafter the lands will revert to the parties as to their pre-pooled working interests.

How does pooling work in oil and gas?

Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well. The unit is generally one or a combination of government survey quarter-quarter sections.

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