voluntary pooling
Pooling arranged by agreement of the owners of mineral interests.
Search Results for: voluntary pooling
pooling
pooling, n. Oil & gas. The bringing together of small tracts of land or fractional mineral interests over a producing reservoir for the purpose of drilling an oil or gas well. • Pooling is usu. associated with collecting a large enough tract to meet well-spacing regulations. — Also termed communitization. Cf. UNITIZATION. compulsory pooling. Pooling
unitization
unitization. Oil & gas. The collection of producing wells over a reservoir for joint operations such as enhanced-recovery techniques. • Unitization is usu. carried out after primary production has begun to fall off substantially, in order to permit efficient secondary-recovery operations. It is also done to comply with well-spacing requirements established by state law or