Examples of Pooled Substances in a sentence
As of the Effective Date, and except as may otherwise be provided herein, the Operating Procedure as amended by this Agreement: governs the relationship of the Parties as to their respective Pooled Interests; and applies to all Operations conducted on the Pooled Lands and the production of Pooled Substances therefrom.
Notwithstanding the provisions of Article 9.00 and Article 10.00 of the Operating Procedure, under no circumstance may a Party Complete a well in one or more formations included in the Pooled Lands and also in any other formation or for any substance not included in the Pooled Lands or Pooled Substances without the consent of the other Parties, which consent may be refused by a Party for any reason.
Each Party hereby pools its respective Pre-Pooled Interest in and to the Title Documents, the Pooled Lands and the Pooled Substances only to the extent necessary for the production of Pooled Substances from the Pooled Lands, so that, as of the Effective Date, all Operations on the Pooled Lands may be conducted without regard to the boundary lines of the separate Title Documents comprising the Pooled Lands.
As of the Effective Date, and unless otherwise provided in this Agreement, all costs and expenses incurred with respect to the Pooled Lands and all Pooled Substances produced and revenues received as a result of Operations on the Pooled Lands shall be allocated among the Parties in accordance with their respective Pooled Interests.