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unitization

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unitization

A system for controlling proliferation of oil and gas wells.Originally,property owners with oil or gas under their land would each dig one or more wells on their property and try to capture as much as they could of the underlying pool, which drained from many properties. One response was the passage of unitization laws by state governments,establishing spacing restrictions on wells and a sharing of profits and expenses among all the owners of the underground pool.
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The unitization concept the oil industry developed is built around people unifying their rights and their goals, and working cooperatively to make a resource last as long as possible and not damaging it," Jarvis said.
Hard lessons from oil industry may help address escalating ... by Asian News International
Due diligence and thorough evaluation are required to profit from this unitization of precious metals explorers and miners.
Evaluating mining acquisitions of 2008 by Michael S. (Mickey) Fulp / Stockhouse
The lead article in the inaugural issue presented a comprehensive survey of the legal framework and ramifications of the international unitization of oil and gas fields and was written by experts in the field.
The Journal at 30: an insider's view by Skelton, James W., Jr. / Houston Journal of International Law
 
 
 
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