What are the main differences between Type I, Type II, and Type III EGA’s?
For an EGA Type I, the State will not grant any new seismic agreements or permits in the nominated area during the Initial Term of this seismic agreement, or the Option Term, if activated. However, the State will exercise its rights and prerogatives to accept any or all nominations for mineral leases within the seismic agreement area during the Initial Term or the Option Term, if activated. Any new mineral leases granted during the term of the EGA will be subject to the provisions within the agreement and the EGA applicant will not have to deal with any State lessee in order to conduct seismic operations over the leased acreage. For an EGA Type II, the State will not grant any new seismic permits or agreements on, or lease the nominated acreage, or any part thereof, during the Initial Term of this seismic agreement, or the Option Term, if activated, except that a buffer zone of one-half (1/2) mile around each pre-existing lease or Operating Agreement within the nominated area will be i
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