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 ?
Unitization is a method to jointly develop a field or reservoir that might encompass a large area and even straddle a state or national boundary.
However, given that the implicit memory literature has shown clearly an unitization effect at perceptual levels (e.
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.
ly/c64zdw compulsory 400-1 unitization Alaska Involuntary http://bit.
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.
What about the critical provisions in the lease agreement such as legal description and tide, surface damages, pooling, unitization, release of acreage, shut-in royalty, pipeline easements and transmission lines, and force majeure?
Maintains the status quo by suspending maritime claims in the Timor Sea for 50 years, along with the 2003 International Unitization Agreement,
It also contains coverage of unitization agreements and a new index table that allows the user to access information on a country-by-country basis.
Stretch hoods, which are elastic film tubes used to wrap stacked pallets, will exhibit the fastest growth of all products due to their significantly higher throughput compared to other pallet unitization methods.