Proration unit definition
Proration unit. As to Prospect ▇▇▇▇▇, shall mean ▇.▇. ▇▇▇▇ South forty acres only (40) acres surrounding each well, the ▇.▇. ▇▇▇▇ (South 40) acres to be as nearly in the form of a square as is practical; however, the shape is to be determined by Survey Map, and Operator in its sole discretion, giving due regard to Participant’s interest in the Prospect Well and the owners of the remainder of the leased lands on which the Proration Unit is located. In any event, the Proration Unit shall be of a configuration so as to be in compliance with all spacing rules and orders established for the field in which the ▇▇▇▇▇ are located.
Proration unit means the area in a pool that can be effectively and efficiently drained by one well as determined by the division or commission (see Subsection B of Section 70-2-17 NMSA 1978) as well as the area assigned to an individual well for the purposes of allocating allowable production pursuant to a prorationing order for the pool.
Proration unit means the area in a pool that can be effectively and efficiently drained by one well as determined by the division or commission (see [NMSA 1978, Section-7-0 2 17(B)] Subsection B of Section 70-2-17 NMSA 1978) as well as the area assigned to an individual well for the purposes of allocating allowable production pursuant to a prorationing order for the pool. [A-proration-unit shall be the same-size and shape as a spacing unit. All proration units are spacing units but not all spacing units are proration units.]
More Definitions of Proration unit
Proration unit means all lands and acreage dedicated, assigned, or allocated to the proration, spacing or production unit established for a Well, in accordance with the rules and regulations of the applicable conservation authority, in order to obtain the maximum production allowable from such well. To the extent that the Owner’s ownership interests in any of the lands or Proration Units are subject to depth limitations, all ▇▇▇▇▇ situated on such lands or Proration Units are currently producing from those depths to which the Owner’s ownership interests are limited. Exhibit A contains a legal description for each Well listed on Table II.
Proration unit means and refer to the lands allocated to a well by Operator for a regular location under the laws of the State of Michigan. For vertical ▇▇▇▇▇ drilled to test the Shale Formation not less than 40 acres of land shall be allocated to such ▇▇▇▇▇. The location and boundaries of the proration units are in the sole and absolute discretion of Operator. Operator may delegate such discretion to the Operator. The Proration Unit for a particular well may comprise all or part of a pooled unit created under the pooling authority of the applicable leases, which pools and combines the particular leases and lands for production from the particular well.
Proration unit means, for any Subject Well, the minimum acreage unit size permitted by applicable law for such Subject Well and (ii) the producing formation or targeted producing formation for such Subject Well.
Proration unit means the area in a pool that can be effectively and efficiently drained by one well as well as the area assigned to an individual well for the purposes of allocating allowable production pursuant to a prorationing order for the pool. 17.15.2.7(P)(17) NMAC
Proration unit means the area in a pool that can be effectively and efficiently drained by one well as determined by the division or commission (see Subsection B of Section 70-2-17 NMSA 1978) as well as the area assigned to an individual well for the purposes of allocating allowable production pursuant to a prorationing order for the pool. [A proratkm unit shall-be-the-same size and shape os a spacing unib-AU-preration units are spacing-units but not all spacing units arc preration-unife]
Proration unit means a unit that can be effectively and efficiently drained by one well, as allocated by a governmental agency having regulatory jurisdiction.
Proration unit means the well’s actual proration unit as assigned by the lease operator.