43 CFR 3281.14 - What minimum requirements and terms must be incorporated into the unit agreement?
(a) The unit agreement must, at a minimum:
(2) State the size and general location of the unit area;
(3) Include procedures for revising the unit area or participating area(s);
(4) Include procedures for amending the unit agreement;
(5) State the effective date and term of the unit, as provided in paragraph (b) of this section;
(6) Incorporate the minimum initial unit obligations, as specified in § 3281.15;
(7) State that BLM may require a modification of the rate of resource exploration or development, or the production quantity or rate, within the unit area;
(8) State that the agreement is subject to periodic BLM review;
(9) State that BLM will deem the unit agreement as void as if it were never in effect if the minimum initial unit obligations are not met;
(10) Include a plan of development; and
(11) Include a unit contraction provision.
(b) The unit agreement must provide that it terminates 5 years after its effective date unless:
(1) BLM extends such date of expiration;
(2) Unitized substances are produced or utilized in commercial quantities in which event the agreement continues for so long as unitized substances are produced or utilized in commercial quantities; or
(3) BLM terminates the agreement under subpart 3285 of this part before the end of the 5 year period.