Common Contracts
1 similar Pooling Agreement contracts
INITIAL CONSIDERATIONS –NON-CROSS CONVEYED POOLING AGREEMENTPooling Agreement • August 2nd, 2020
The purpose of this agreement is to combine land to complete a spacing unit for the drilling and production of a petroleum substance without the ownership of those rights changing in any way. Careful consideration should be given to which form of pooling would best suit your situation. The Non-Cross Conveyed pooling is often used when a Cross Conveyed Pooling should be utilized ie. if pooling multiple zones consider using a Cross Conveyed Pooling Agreement. Also a Cross Conveyed Pooling Agreement ensures your assets are more secure in case your pooling partner succumbs to bankruptcy. If a horizontal well is being drilled in an area with single LSD spacing consider using a Horizontal Well Pooling Agreement. If this agreement is used to pool a freehold lease it is recommended a caveat be registered on the certificate of title of your pooling partners lease.
