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What is force pooling in the oil industry?

Compulsory pooling, also known as forced, statutory or mandatory pooling, forces landownerswho do not wish the mineral resources underneath their land to be extractedto become part of a drilling unit.

What is a unit well?

Unit Well means a well drilled or acquired for the Unit Account and held for the Unit Account at the time referenced.

What does unitization mean?

What is Unitization? A unitization is the pooling of assets by several parties in an oil and gas producing area in order to form a single operating unit, in exchange for receiving an interest in that unit.

What is pooling and unitization?

As noted above, while pooling focuses on efficiently combining lands for the purpose of obtaining a drilling permit to drill a single well, unitization focuses on the combination of interests covering a larger area to facilitate development of all or part of a common source of supply (i.e. a field/reservoir).

What is a pooling clause?

Pooling Clause: Joining the Leased Land with Other Land The typical OG lease allows the lessee to join or pool various adjacent tracts of land together to form a larger pooled unit on which it can operate.

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