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What is a pooling bonus?

Bonus Pool means a pool consisting of a percentage of the Net Profits from a Designated Well, as determined by the Company, paid by the Company to the Plan. Each Bonus Pool will be the basis for determining the Bonus to be paid to each Participant or Participant Group.

What states have forced pooling?

State Laws Can Compel Landowners to Accept Gas and Oil Drilling StateType of Regulation(s)Section NumberTexasForced pooling102.017Utah1) Involuntary pooling 2) Compulsory unitization40-6-6.5VermontForced pooling14-29-523VirginiaCompulsory pooling45.1-361.2146 more rows May 19, 2011

What is a pooling provision?

Generally, a pooling clause will allow the leased premises to be combined with other lands to form a drilling unit, wherein proceeds from production anywhere on the drilling unit are allocated according to the percentage of the acreage of each tract divided by the total acreage of the drilling unit.

What is a pooling order?

Order pooling means combining several different customers orders on the same standard manufacturing panel. Order pooling or pooling is probably the most common name but the process is also called order combination, panel sharing, multi-panels

What are pooling rights?

Pooling: During the pooling process, extraction companies purchase or lease mineral rights from multiple landowners and pool them to form a drilling unit upon which they can legally place a drill rig.

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