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Pooling, also called communization in federal oil and gas leases, focuses on combining land to create a tract large enough to permit and place a single well. Pooling can be voluntary or forced. Lessors can agree to pool, or one or more owners may be forced to pool by the majority of owners of the tract.
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 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.
Is there forced pooling in Colorado?
The forced pooling laws are found in C.R.S. 34-60-116 and COGCC Rule 530. Forced pooling is often threatened by landmen to persuade reluctant mineral owners to lease their minerals. But the threat of forced pooling should not be used to pressure a mineral owner to hastily sign a lease.
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.
Related Searches
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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 the difference between 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 the difference between 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 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 does pooling mean 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.
Related links
Oil Gas - Colorado State Land Board
State leases do not have a pooling provision. In order to join state trust minerals with other minerals outside the lease (including a second state trust lease)
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