- 3 - production obtained from certain tracts of land in Wood County. Humble was subsequently acquired by Exxon Corporation (Exxon). Jessamine and Frankie Allen died in 1979 and 1989, respectively, and decedent served as the independent executrix of both estates. Upon Jessamine’s death, decedent inherited a portion of Jessamine’s interest in the leased property. Upon Frankie’s death, decedent inherited all of Frankie’s interest in the leased property, as well as the remaining portion of Jessamine’s interest, which Frankie had previously inherited. Decedent’s, Frankie’s, and Jessamine’s interests in the Wood County property were part of a unit formation known as the Hawkins Field Unit (HFU). The Texas Railroad Commission, which regulates oil and gas operations in Texas, approved the HFU for unitization on November 26, 1974. In a unit agreement, effective January 2, 1975, interest owners in the area utilized oil and gas rights pertaining to the unitized formation. The unit agreement embraces interests of approximately 2,200 royalty interest owners2 and 300 working interest owners. Exxon is the sole unit operator of the HFU and possesses the exclusive right to conduct HFU operations pursuant to a unit operating agreement between Exxon and the other working interest owners.3 2Decedent, Jessamine, and Frankie were royalty interest owners. 3Exxon was the HFU’s largest working interest owner.Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011