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.

References in periodicals archive ?
We hope this Treaty and the International Unitization Agreement can be brought into force as soon as possible so as to give the Greater Sunrise project the best possible chance of proceeding.
Unfortunately, unitization must be governmentally compelled.
Shorr's wide selection of packaging and shipping supplies includes corrugated products, carton closure, pallet unitization products, protective packaging and flexible packaging, plus extensive capabilities in customized corrugated design.
Tenders are invited for Unitization Of Slabs/Blooms Before Dispatch In Railway Wagons
The proposal also calls on the parties to "address other issues commonly addressed in international unitization agreements, including exchanges of petroleum-related data for areas close to the MSL and evacuation of hydrocarbons.
Nicosia also intends to conclude agreements with Tel Aviv on energy security and a unitization deal paving the way for exploitation of cross-border natural gas and oil reserves.
Total European PE market 2005: 15,5 mln mt Stretch 43% Unitization film 10% Shrink 4% 11% 10% Stretch hoods 16% 6% European Unitization market 2005: 1,55 mln mt Stretch 73% Shrink 23% Stretch hoods 4% European Unitization market 2010: 2,01 mln mt ESTIMATED AAGR 6.
Coordinated numerous property unitization projects.
There are issues such as pooling and unitization that need to be discussed in the future and we will engage in those [discussions].
Cyprus and Israel are also in negotiations on a unitization agreement, stipulating how the two countries could commercially exploit any hydrocarbons found on the boundaries between their respective EEZs.