What does unitization mean?
What does unitization mean?
transitive verb. 1 : to form or convert into a unit. 2 : to divide into units the added cost of unitizing bulk products.
What is unitization in accounting?
Unitization is a method for tracking an endowment fund’s interest in an investment pool. Units and unit value are used to determine the value of each fund. Each endowment fund owns individual units (shares) in the unitized investment pool, and the units are generally valued monthly.
What is an application for unitization?
Unitization is available when the owners of sixty-five percent of the land overlying the pool apply to the Division for a unit order to operate a pool or part of a pool (common accumulation of oil and/or gas) as a unit.
What is cargo unitization?
The consolidation of a quantity of cargo into one large shipping unit for easier handling, as in palletizing or containerization.
What is asset unitization?
A unitization is the pooling of assets by several parties in an oil and gas producing area in order to form a single operating unit, in exchange for receiving an interest in that unit.
What is the difference between pooling and unitization?
As noted above, while pooling focuses on efficiently combining lands for the purpose of obtaining a drilling permit to drill a single well, unitization focuses on the combination of interests covering a larger area to facilitate development of all or part of a common source of supply (i.e. a field/reservoir).
What is unitization assets?
What is unitisation in finance?
nitisation, i.e. dividing a portfolio or investment into units, to be held by one or more investors is a versatile method of investing that is used in many situations, for many different reasons. The underlying unit trust portfolio is divided up into units, to determine the ownership of the pool of assets.
What is a pooling agreement?
A pooling agreement is a type of contract in which shareholders of a corporation create a voting trust by pooling their voting rights and transferring them to a trustee. This is also called a voting agreement or shareholder-control agreement since it is used to control the affairs of the corporation.
What are the disadvantages of unitization?
Limited environmental protection: Without a protective plastic layer, items and packaging may be subject to moisture, dirt and damage. Increased expenses: Since shipping loose boxes requires more handling time, it is often more expensive than shipping one large, palletized load.
What are types of cargo?
Five types of cargo can be distinguished: container cargo, liquid bulk, dry bulk, breakbulk and ro-ro.
- Container cargo.
- Liquid bulk.
What does pooling mean in oil and gas?
Pooling is the combination of all or portions of multiple oil and gas leases to form a unit for the drilling of a single oil and/or gas well.
What does unitization mean in oil and gas leases?
Unitization of Federal Oil and Gas Leases. Unitization is the agreement to jointly operate an entire producing reservoir or a prospectively productive area of oil and/or gas.
Which is the best definition of a unitization?
What is Unitization? A unitization is the pooling of assets by several parties in an oil and gas producing area in order to form a single operating unit, in exchange for receiving an interest in that unit.
How does unitization of an oil field affect royalty?
Following unitization of an oil field, the royalty clause of a oil and gas lease is modified and the lessor becomes entitled to a royalty based on a pro rata share of the production attributable to its land, regardless of whether production is from that land or another tract included within the unit [ii].
What does a preunitisation agreement do for an oil field?
A preunitisation agreement will define how parties to licences which contain a common hydrocarbon reservoir within the licence boundary will jointly evaluate the reservoir for the purposes of submitting a common field development plan, including a plan for unitisation.