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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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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