APPLICATION FOR THE FORMATION OF THE SAKONOWYAK Sample Clauses

APPLICATION FOR THE FORMATION OF THE SAKONOWYAK. RIVER UNIT AVCG submitted the Application on June 1, 2001, and simultaneously paid the $5,000.00 unit application filing fee, in accordance with 11 AAC 83.306 and 11 AAC 05.010 (a)(10)(D), respectively. The Application includes: the Agreement; Exhibit A legally describing the proposed unit area, its leases, and ownership interest; Exhibit B, a map of the proposed unit; and Exhibit G, the proposed Plan of Exploration (Initial XXX). The Application also includes the Sakonowyak River Unit Operating Agreement; technical data in support of the Application; and an affidavit that all proper parties were invited to join the Agreement. The Agreement is based on DNR’s State Only Royalty Owner model unit form dated December 2000 (Model Form) with some modifications. The Agreement requires the Unit Operator, BPXA, to file unit plans describing the activities planned for the proposed unit area. The Unit Operator must consider how it can best develop the resource underlying the entire unit area, without regard to internal lease boundaries. AVCG filed a proposed three-year Initial XXX. The Initial XXX is discussed further in Section III (A) 4 and 5. The Agreement defines the relationship between the unit operator, the working interest owners, and the royalty owners. It describes the rights and responsibilities, in addition to those imposed by state law and the leases, of the unit operator, working interest owners and royalty owners for exploration of the unit area. It protects the interests of the state and the lessees. It defines the parties’ rights and responsibilities in the event of successful or unsuccessful exploration results. DNR may approve the Agreement if the available data suggests that the unit area covers one or more geologic formations that should be developed under a DNR approved plan, and the proposed unit meets the other statutory and regulatory criteria. The Division determined that the Application was complete and published a public notice in the “Anchorage Daily News” on Sunday, June 10, 2001, and in the “Arctic Sounder” on Thursday, June 14, 2001, under 11 AAC 83.311. DNR provided copies of the public notice to the North Slope Borough (NSB), City of Xxxxxx, City of Nuiqsut, Kuukpik Corporation, City of Kaktovik, Arctic Slope Regional Corporation, Kaktovik Inupiat Corporation and other interested parties under 11 AAC 83.311. DNR also provided public notice to the Alaska Department of Environmental Conservation (DEC), Alaska Department of Fish and Gam...
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