Unit Operating Agreement. 1. Each Executive Agency shall require its Licensees to enter into a Unit Operating Agreement for the Exploration or Exploitation of a Transboundary Unit In accordance with this Agreement.
2. The Executive Agencies shall require that the Licensees submit an executed Unit Operating Agreement prior to the approval of the unitization agreement.
3. In case of a conflict between the Unit Operating Agreement and the unitization agreement, the unitization agreement shall prevail, or between the unitization agreement and this Agreement, the provisions of this Agreement shall prevail.
Unit Operating Agreement. That certain Unit Operating Agreement, Beta Unit, San Xxxxx Bay Area, Outer Continental Shelf, Offshore California, dated as of October 1, 1978, as amended.
Unit Operating Agreement. The owners of working interests and the Unit Operator shall enter into a Unit Operating Agreement which shall describe how all costs and liabilities incurred in maintaining or conducting operations pursuant to this Agreement shall be apportioned and assumed. The Unit Operating Agreement shall also describe how the benefits which may accrue from operations conducted on the unit area shall be apportioned.
Unit Operating Agreement. 7.1 The owners of working interests and the Unit Operator shall enter into a Unit Operating Agreement which shall describe how all costs and liabilities incurred in maintaining or conducting operations pursuant to this Agreement shall be apportioned and assumed. The Unit Operating Agreement shall also describe how the benefits which may accrue from operations conducted on the unit area shall be apportioned.
7.2 The owners of working interests and the Unit Operator may establish by means of one or more Unit Operating Agreements such other rights and obligations as they deem necessary or appropriate. However, no provision of the Unit Operating Agreement shall be deemed to modify the terms and conditions of this Agreement or to relieve the working-interest owners or the Unit Operator of any obligation set forth in this Agreement. In case of any inconsistency or conflict between this Agreement and the Unit Operating Agreement, the terms of this Agreement shall prevail.
7.3 Three copies of the Unit Operating Agreement executed in conjunction with the first section of this Article shall be attached to this Agreement when it is filed with the Regional Supervisor with a request for approval. Three copies of all other Unit Operating Agreements and any amendments thereto also shall be filed with the Regional Supervisor within 30 days of final execution.
Unit Operating Agreement. 7.1 The Working Interest Owners and the Unit Operator shall enter into a Unit Operating Agreement. It will apportion all costs and liabilities incurred in maintaining or conducting Unit Operations among the Working Interest Owners. The Unit Operating Agreement will also apportion the benefits, which will accrue from Unit Operations among the Working Interest Owners.
7.2 Any allocation described in the Unit Operating Agreement will not bind the State in determining or settling royalties and net profit share payments. Allocations of Unit Expense, Participating Area Expense, or Unitized Substances for determining, settling and paying royalties and net profit share payments will be based on Exhibits C, E and F of this Agreement, and must be approved by the Commissioner in writing before taking effect. An original or revised conforming Exhibit C and F shall be submitted to the Commissioner within thirty days of: any change in the division of interest or allocation formula establishing or revising the Unit Tract Participation of any Unit Tract or Unit Tracts in a Participating Area.
7.3 The Working Interest Owners and the Unit Operator may establish, through one or more Unit Operating Agreements and amendments, other rights and obligations between the Unit Operator and the Working Interest Owners. The Unit Operating Agreement will not modify any term or obligation of this Agreement. If the terms of this Agreement and the Unit Operating Agreement conflict, this Agreement will prevail.
7.4 Any Working Interest Owner is entitled to drill a well on the unitized portion of its Lease when the Unit Operator declines to drill that well. A Working Interest Owner must have an approved permit to drill and the well must be part of an Approved Unit Plan. If the Commissioner determines any such well to be capable of producing Unitized Substances in Paying Quantities, the land upon which that well is situated will be included in a Participating Area. The Participating Area will be formed or an existing Participating Area enlarged as provided in this Agreement. The Unit Operator will thereafter operate the well in accordance with this Agreement and the Unit Operating Agreement.
7.5 The Unit Operator shall file a copy of the Unit Operating Agreement with the Commissioner when this Agreement is filed for approval. The copy of the Unit Operating Agreement is for informational purposes only. Approval of the Unit Agreement is not approval of the Unit Operating Agreement. Complete co...
Unit Operating Agreement. The unit operator and the owners of working in- terests in the unitized leases must enter into a unit operating agreement. The unit operating agreement must de- scribe how all the unit participants will apportion all costs and liabilities incurred maintaining or conducting op- erations. When a unit involves one or more net-profit-share leases, the unit operating agreement must describe how to attribute costs and credits to the net-profit-share lease(s), and this part of the agreement must be ap- proved by the Regional Supervisor. Otherwise, you must provide a copy of the unit operating agreement to the Regional Supervisor, but the Regional Supervisor does not need to approve the unit operating agreement.
Unit Operating Agreement. In consideration of the execution of the Unit Agreement for the Development and Operation of the
Unit Operating Agreement. 8.1. The Unit Operating Agreement is an agreement between the unit Working Interest Owners regarding voting mechanisms, operational details, and non-Participating Area unit cost allocations for implementation of the Unit Agreement. It is not binding on DNR. The Unit Agreement, lease terms, statutes, and regulations control in the event of a conflict with the Unit Operating Agreement.
8.2. The unit applicant will file an executed copy of the Unit Operating Agreement with DNR as part of the application to form a unit. Amendments to the Unit Operating Agreement, and all other agreements between the Working Interest Owners that affect the rights, duties, and obligations of some or all of the Parties to this Agreement, must also be filed with DNR within 30 days of execution and at least 30 days before their effective dates.
8.3. Allocations of Unit Expense, Participating Area Expense, and unit production will be consistent with Exhibits C, E, and F of this Agreement including for the purpose of determining, settling, and paying royalties and net profit share payments. Exhibits C, E, and F of this Agreement must be approved by DNR before they take effect. Original or revised conforming Exhibits C, E, and F will be submitted to DNR within 30 days of any change in the division of interest or allocation formula establishing or revising the allocation of production and costs in a Participating Area.
Unit Operating Agreement. “Unit Operating Agreement” shall mean the Unit Operating Agreement, dated as of November 1, 1964, among the City, the State and certain Working Interest Owners, relating to the development and operation of the Unitized Formations and the Unitized Area.
Unit Operating Agreement. The Horsethief Canyon Unit Operating Agreement will control all operations of the parties while it is in effect. In the event any lands subject to this agreement are contracted out of the Horsethief Canyon Unit, or if the Horsethief Canyon Unit is terminated, then such lands will be automatically subject to the AAPL 610-1989 JOA attached hereto as Exhibit D. Fan Energy Inc. October 1, !998 Page Three
