3186.3 Model for designation of successor unit operator by working interest owners.§ 3186.3 Model for designation of successor unit operator by working interest owners.
Designation of successor Unit Operator ___ Unit Area, County of ___, State of ___. No. ___.
This indenture, dated as of the _____ day of ______, 19__, 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, on the ______ day of ______, 19__, approved a unit agreement ___ Unit Area, wherein _________ is designated as Unit Operator, and
Whereas said _________ has resigned as such Operator 1 and the designation of a successor Unit Operator is now required pursuant to the terms thereof; and
1 Where the designation of a successor Unit Operator is required for any reason other than resignation, such reason shall be substituted for the one stated.
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 (Name and Title of authorized officer, BLM) First Party shall be granted the exclusive right and privilege of exercising any and all rights and privileges as Unit Operator, pursuant to the terms and conditions of said unit agreement; said Unit agreement being hereby incorporated herein by reference and made a part hereof as fully and effectively as though said unit agreement were expressly set forth in this instrument.
In witness whereof, the parties hereto have executed this instrument as of the date hereinabove set forth.(Witnesses) (Witnesses) (First Party) (Second Party)
I hereby approve the foregoing indenture designating _________ as Unit Operator under the unit agreement for the ___ Unit Area, this _____ day of ______, 19__.Authorized officer of the Bureau of Land Management. [48 FR 26766, June 10, 1983. Redesignated at 48 FR 36587, Aug. 12, 1983, as amended at 51 FR 34604, Sept. 30, 1986]