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API MF 5U01-1993

API MF 5U01-1993

$39.00

Model Form of Voluntary Unit Agreement

Published By Publication Date Number of Pages
API 1993 30
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The API Model Form of Voluntary Unit Agreement and the companion Model Form of Voluntary Unit Operating Agreement date back to the First Editions, January 1957. The First Editions were superseded by Second Editions, January 1961. The Third Editions were issued in January 1970. The revised editions have been prepared to update these model forms by making revisions found from experience to be desirable.

The majority of production units formed in the United States in recent years utilized these suggested forms in whole or in part. The design of the model forms is to aid in the accomplishment of voluntary unitization of oil and condensate reservoirs that are substantially developed in order to conduct some form of pressure maintenance, repressuring, waterflooding, or other cooperative forms of operation to increase ultimate recovery.

These suggested forms have been prepared by the Subcommittee on Unit Operations under administration of API's Executive Committee on Drilling and Production Practices. Being general in nature, these suggested forms require a certain amount of adaptation to conform to the conditions and requirements of particular units and to the laws of different states. The latter is true in regard to matters of execution, acknowledgments, and filing for record.

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API MF 5U01-1993
$39.00