All of the acreage I own in Carter Co., OK is in a unit for “unitized management, operation, and further development by enhanced recovery operations”. I am receiving interest in leasing some of the acreage. I believed acreage in a unit was unavailable for leasing to another party. Except perhaps for different formations/depths. Is this correct?
It depends upon the wording of your original lease or force pool order and the wording of the unitization agreement. If all of the wells in a unit have been plugged, then you may be able to lease again. If you were force pooled for a particular horizon and that horizon was part of a unit that is still active, then you may be able to lease above and below the unit. If you were leased, then it may be a bit different as you might be held at all depths.