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 ?
These findings support the position of the unitization model, showing effects of the physical and phonological characteristics of the words on letter detection.
If undertaken, it would be the first case of unitization with Brazil's PPSA.
In the first step of the unitization procedure, the analyst used a combination of simple categorical distinctions and natural syntactical distinctions (Krippendorff, 2004) to segment the text of each course description into words and phrases.
leaseholders with a framework for exploiting transboundary reservoirs through "unitization"; (38) encouraging options for investment; offering predictable resolution of disputes; and ensuring a joint safety regime.
Unitization - sharing oil revenues - might alleviate disputes in East Asian waters
That's where bulk packaging offers tremendous benefit if the product lends itself to bulk unitization and shipment."
Experts from the University of Cyprus, University of Sudan, Cairo University and Libya's NOC will discuss the industry's latest developments as well as how to manage hydrocarbon resources, the unitization and reserves assessment guidelines and procedures, field development, and well completion and optimization.
As indicated in Appendix 2, Pooling Statutes by State (Baca, 2012), forms of regulations include forced pooling, compulsory unitization, involuntary unitization, compulsory integration and involuntary pooling.
Using her prior industry experience as a petroleum engineer, she counsels clients on a broad range of issues, including acquisitions and dispositions of oil and gas properties, midstream assets, and natural resources companies; oil and gas leasing; pooling and unitization agreements; joint operating agreements; pipeline and compression agreements; and oil and gas regulatory matters.
Unitization extends the term of lease so that the discovered resources can be produced in an efficient and coordinated manner that will maximize recovery and minimize waste." Unitization of petroleum leases is a common practice in Alaska.