CHAPTER 20 RESIGNATION OF UNIT OPERATOR

• Jurisdiction: United States

Federal Onshore Oil & Gas Pooling & Unitization - part 2
(Oct 2014)
CHAPTER 20
RESIGNATION OF UNIT OPERATOR

[Page 249]

_______________ Unit Area

County of _______________

State of _______________

Unit Agreement No. _______________

Under and pursuant to the provisions of Section ___ of the Unit Agreement for the Development and Operation of the _______________ Unit Area, _______________ County, _______________, _______________ the designated Unit Operator under said Unit Agreement, does hereby resign as Unit Operator, effective upon the selection and approval of a Successor Unit Operator.

Executed with effect as aforesaid the ___ day of _______________, 200 ___.

ATTEST:	_______________
_______________	_______________

[Page 250]

DESIGNATION OF SUCCESSOR UNIT OPERATOR

_______________ Unit Area

County of _______________

State of _______________

Unit Agreement No. _______________

THIS INDENTURE, dated as of the _____ day of _______________, 200 ___, by and between _______________, hereinafter designated as "First Party," and the owners of unitized working interests, hereinafter designated as "Second Parties,"

WITNESSETH:

WHEREAS, under the provisions of the Act of February 25, 1920, 41 Stat. 437, 30 U.S.C. Secs. 181 et seq., as amended by the Act of August 8, 1946, 60 Stat. 950, the Secretary of the Interior, acting by and through the Authorized Officer, on the _____ day of _______________, 199 ___, approved a Unit Agreement for the _______________ Unit Area, wherein _______________ was designated as Unit Operator, and

WHEREAS, _______________ desires to resign as such Operator and the designation of a successor Unit Operator is now required pursuant to the terms thereof; and

WHEREAS, the First Party has been and hereby is designated by Second Parties as Unit Operator, and said First Party desires to assume all the rights, duties and obligations of Unit Operator under the said Unit Agreement:

NOW, THEREFORE, in consideration of the premises hereinbefore set forth and the promises hereinafter stated, the First Party hereby covenants and agrees to fulfill the duties and assume the obligations of Unit Operator under and pursuant to all the terms of the _______________ Unit Agreement, and the Second Parties covenant and agree that, effective upon approval of this indenture by the Authorized Officer, First Party shall be granted the exclusive right and privilege of exercising any and all rights and privileges as Unit Operator...