Unitized Area definition

Unitized Area is the leased lands within the boundaries defined in the Unitization Agreement, or Ratification thereto, approved by the Lessor.

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Unitized Area means any area where ownership of production from the relevant pool or formation is consolidated pursuant to an agreement, whether voluntary and filed in the county land records, or approved by federal or state authority, including but not limited to a statutory unit, an approved enhanced recovery unit, a participating area in a federal exploratory unit, a federal unit which does not provide for participating areas, a state exploratory unit or a communitized unit if all interests in the communitized unit are committed to the communitization agreement.

Unitized Area or "unit" means the area established by unitization from which the proceeds of production are distributed to the participants according to:

Examples of Unitized Area in a sentence

• The operator of any well subject to this Agreement, further agrees not to handle, use or otherwise manage and to cause its employees, agents, contractors, and any other person occupying or present on the premises not to manage any Hazardous Material in violation of any Environmental Law and to conduct operations hereunder so as to prevent the Release or threat of Release of any Hazardous Material on, to, or from the Unitized Area which could result in an Environmental Claim.

• The operator of any well shall properly plug all ▇▇▇▇▇ drilled by it on the Unitized Area and either not capable of or no longer capable of producing oil or gas in as a Commercial Producer.

• All data provided under the Unitized Area shall include a complete image, whether stacked or migrated.

• Burlington will conduct, at its sole risk and expense, a seismic program to acquire new seismic data as set forth in this Article 2 and identified in red on Exhibit "A" within the Gamma Ray Unitized Area.

• Burlington will conduct, at its sole risk and expense, a seismic program to acquire new seismic data as set forth in this Article 2 and identified in red on Exhibit "A" within the Muddy Creek Unitized Area.

• Other than the potential for the proportionate reduction of the Injection Fee on a surface acreage basis based on the Unitized Area, nothing herein shall serve to reduce compensation to the Owner hereunder.

• Unitization in one or more instances shall, if approved by the NOGCC, not exhaust the rights of Operator to unitize the Leased Premises or portions of the Leased Premises into other unitized areas, and Operator shall have the recurring right to revise any Unitized Area formed under this Agreement by expansion or contraction or both, as may be approved by the NOGCC.

• Burlington will conduct, at its sole risk and expense, a seismic program to acquire new seismic data as set forth in this Article 2 and identified in red on Exhibit "A" within the CD Unitized Area.

• In exercising its unitization rights under this Agreement, and if required by law, Operator shall record, or cause to be recorded, a copy of the NOGCC’s unitization order or other notice thereof in the county in which the Unitized Area is located.

• Owner’s share of the Injection Fee shall be based on the proportion of the Storage Premises included within the Storage Reservoir on a surface acreage basis, to be determined by Operator, or as approved as a Unitized Area, as set forth in Section 9, below.

More Definitions of Unitized Area

Unitized Area means the total land area covered by the CD Unit Agreement.