Monday, June 27, 2022
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA
Oil Market News Today
Advertisement
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
  • Home
  • Market
    • All
    • Africa
    • Europe
    • Middle East
    • Russia
    • US
    • Venezuela
    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

    Construction of Dangote oil refinery Africa’s largest nears completion

    Construction of Dangote oil refinery Africa’s largest nears completion

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    Oil rises further from 3-week lows, but headwinds loom amid pandemic

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    TC Energy says new U.S. permit to boost Keystone pipeline oil exports by

    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas
No Result
View All Result
Oil Market News Today
No Result
View All Result
Home Industry

Utah Board of Oil, Gas & Mining Amends Force Pooling Rules | JD Supra

June 10, 2020
in Industry
Utah Board of Oil, Gas & Mining Amends Force Pooling Rules | JD Supra
Share on FacebookShare on Twitter


Latest Oil MArket NewsPosts

The Fed’s Oil and Gas Bailout Is a Mistake – Center for American Progress

Key to data management in oil and gas is stability

Hamm says oil industry needs ‘sound economics’ rather than another boom

Effective June 1, 2020, the Utah Board of Oil, Gas & Mining (the “Board”) approved significant revisions to the state’s force pooling rules. The prior rules gave an operator little certainty and direction on how to force pool interests in Utah. The new rules include procedures for handling disputes over the governing terms of the imposed operating agreement, treatment of unidentifiable or unlocatable owners, and application of the initial force pooling order to subsequently drilled wells.

Definitions for “Authority for Expenditure,”1 “Joint Operating Agreement,”2 and “Notice of Opportunity to Participate”3 are now included in Section R649-1-1. Importantly, the definition for “Notice of Opportunity to Participate” contains a list of 10 items that must be included in the written notice of opportunity to participate provided to each “owner.”4

The newly adopted Section R649-2-8a replaces most of Section R649-2-9 and sets forth conditions under which an owner will be deemed to be a “nonconsenting owner” or “consenting owner” for the drilling and operation of a well. An owner will be deemed to be nonconsenting if, within 30 days from the date the notice of opportunity to participate is received, the owner does not execute and return to the operator the proposed AFE and JOA. The new rule allows for the owner to object to certain provisions contained in the proposed JOA and still be deemed consenting if they execute and return the proposed AFE to the operator and provide written objections, in good faith, specifying the provisions they find objectionable and proposing modifications or alternative provisions. Similar to above, this must be done within 30 days from the date the notice of opportunity to participate is received by the owner or such later date as specified in the notice or separate written agreement; otherwise, the owner will be deemed to be nonconsenting. The new rule further provides that an objecting owner, or an operator who in good faith rejects the owner’s proposed modifications to the JOA, may request the Board to determine the disputed terms of the JOA (and also challenge costs charged, if applicable). If no request is timely filed within the stated deadlines, the JOA terms proposed by the operator in the notice of opportunity to participate will govern and the actual costs incurred will be deemed to be reasonable. Moreover, Articles VII.A through D of the standard, unmodified A.A.P.L. Form 610-2015 Model Form Operating Agreement are deemed to be just and reasonable under all circumstances, provided the “risk penalty” will be set by the Board. If these provisions are contained in the proposed JOA without modification, any objection to them will be summarily rejected by the Board. Lastly, a nonconsenting owner is subject to the Board’s determination of a risk compensation award.

The prior rules did not address the treatment of owners that are either not identifiable or not locatable. Under the terms of newly adopted Section R649-2-9a, an operator can file a motion, concurrent with a force pooling request, to provide…



Read More: Utah Board of Oil, Gas & Mining Amends Force Pooling Rules | JD Supra

Tags: AmendsboardforceGasMiningoilPoolingrulesSupraUtah

Related Posts

The Fed’s Oil and Gas Bailout Is a Mistake – Center for American Progress
Industry

The Fed’s Oil and Gas Bailout Is a Mistake – Center for American Progress

by Oil Market
July 31, 2020
0

Introduction and summary The coronavirus pandemic and the necessary public health response have significantly decreased U.S. economic activity, placing...

Read more
Key to data management in oil and gas is stability
Industry

Key to data management in oil and gas is stability

by Oil Market
July 30, 2020
0

Data management in oil and gas has been crucial for decades, and organizations unwilling to adopt the best practices...

Read more
Hamm says oil industry needs ‘sound economics’ rather than another boom
Industry

Hamm says oil industry needs ‘sound economics’ rather than another boom

by Oil Market
July 29, 2020
0

Hamm also touched on the threat climate change activism poses to the oil and gas industry, saying that "we...

Read more
Oil and Gas Expert Think Tank Made 5 Business Model Predictions Which Will
Industry

Oil and Gas Expert Think Tank Made 5 Business Model Predictions Which Will

by Oil Market
July 28, 2020
0

VANCOUVER, BC / ACCESSWIRE / July 28, 2020 / The world has changed dramatically since December 2019 due to...

Read more
Webinar at 12PM: Oil & gas at a digital tipping point
Industry

Webinar at 12PM: Oil & gas at a digital tipping point

by Oil Market
July 27, 2020
0

Make sure to register and attend our webinar, "Oil & gas at a digital tipping point" today at 12PM to...

Read more
Time to end tax holiday for oil, gas industry
Industry

Time to end tax holiday for oil, gas industry

by Oil Market
July 26, 2020
0

As a Montanan, I know how important both the environment and the energy industry are to our state. However,...

Read more
Next Post
Goldman Sachs says an oil price correction as deep as 20% ‘may already be

Goldman Sachs says an oil price correction as deep as 20% ‘may already be

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Today Oil Markets

Oil and Gas Hose Market Growing Technically Offers High Revenue Growth

Oil and Gas Hose Market Growing Technically Offers High Revenue Growth

2 years ago
Time to end tax holiday for oil, gas industry

Time to end tax holiday for oil, gas industry

2 years ago
Amazon salesperson’s pitch to oil and gas: ‘Remember that we actually

Amazon salesperson’s pitch to oil and gas: ‘Remember that we actually

2 years ago
2020 Trending report on Neroli Essential Oil Market Analysis| Growth| Size|

2020 Trending report on Neroli Essential Oil Market Analysis| Growth| Size|

2 years ago
Vitamin D3 Oil Market Bolstered by Emerging New Advancements, Says QYR|,

Global Size, Supply-Demand, Product Type and End User Analysis To 2026|

2 years ago
Turkish vessel starts seismic search for oil, gas _ or not | Kathimerini

Turkish vessel starts seismic search for oil, gas _ or not | Kathimerini

2 years ago

Oil Market

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

Chinese oil giant CNPC eyes BP’s $1.5bn stake in Oman gas field

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Construction of Dangote oil refinery Africa’s largest nears completion

Construction of Dangote oil refinery Africa’s largest nears completion

July 31, 2020

Russia Oil Market

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

Global Ginger Essential Oil Extract Market 2020 with (COVID-19) Impact

July 31, 2020
CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

CORONAVIRUS (COVID-19) IMPACT ON Sandalwood Essential Oil Market OUTLOOK,

July 29, 2020
Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

Gas, Oil and Dual-fuel Burners Market Size 2020, Global Industry Trends,

July 28, 2020

Europe Oil Market

Oil rises further from 3-week lows, but headwinds loom amid pandemic

Oil rises further from 3-week lows, but headwinds loom amid pandemic

July 31, 2020
Shell posts $18billion loss in second quarter – News for the Oil and Gas

Shell posts $18billion loss in second quarter – News for the Oil and Gas

July 30, 2020
Path to net zero: European oil majors outpace US companies on climate goals

Path to net zero: European oil majors outpace US companies on climate goals

July 29, 2020
Oil price holds near four-month high amid bearish signals – News for the

Oil price holds near four-month high amid bearish signals – News for the

July 28, 2020
  • Contact Us
  • Terms of Use
  • Privacy Policy
  • DMCA
  • CCPA

© 2020 MarketFor Oil.com

No Result
View All Result
  • Home
  • Market
    • US
    • Russia
    • Europe
    • Middle East
    • Africa
    • Venezuela
  • Oil News
  • Oil & Gas
  • Diesel
  • Oil Price
  • Politics
  • Industry
  • Companys
  • Production
  • Natural Gas

© 2020 MarketFor Oil.com