This form provides for the reassignment of interests in the event a well is required to be drilled, deepened, reworked, plugged back, sidetracked, or recompleted, or any other operation that may be required in order to (1) continue a Lease or Leases in force and effect, or (2) maintain a unitized area or any portion of it in and to any Oil and/or Gas and other interest which may be owned by a third party or which, failing in the operation, may revert to a third party, or (3) comply with an order issued by a regulatory body
California Provisions for JOB 82 Revised are a set of regulations and provisions that govern the Joint Operating Agreement (JOB) in the state of California. JOB is a legal contract between two or more parties responsible for jointly operating an oil or gas field. Under the California Provisions for JOB 82 Revised, there are several types of provisions that address various aspects of the joint operating agreement. These provisions ensure that the operation and management of the oil or gas field are conducted efficiently, fairly, and in compliance with state laws and regulations. Some key provisions include: 1. Financial Provisions: These provisions outline the financial obligations of each party involved in the JOB. It specifies how costs, revenues, and profits are shared among the parties and provides guidelines for accounting, auditing, and financial reporting. 2. Operating Provisions: This type of provision covers the day-to-day operations of the oil or gas field. It includes guidelines for drilling, production, well maintenance, and safety measures. Operating provisions also define procedures for communicating and resolving operational conflicts among the parties. 3. Title and Assignment Provisions: These provisions deal with the ownership and transfer of interests in the joint operating agreement. They establish rules for transferring ownership rights, obtaining necessary approvals and consents, and maintaining accurate records of ownership. 4. Dispute Resolution Provisions: In case of disagreements or disputes between the parties, these provisions outline the procedures for resolving such conflicts. They may involve negotiation, mediation, or arbitration, depending on the severity of the dispute. 5. Default and Termination Provisions: These provisions address situations where a party fails to fulfill its obligations under the JOB or decides to terminate the agreement. They provide guidelines for default remedies, termination procedures, and the transfer of operator ship to another party. 6. Environmental and Regulatory Provisions: Given the importance of environmental protection in California, these provisions address compliance with environmental regulations, including permitting, waste management, and environmental impact assessment. They ensure that the operations are conducted in an environmentally responsible manner. By following the California Provisions for JOB 82 Revised, parties involved in operating oil and gas fields in the state can establish clear guidelines, responsibilities, and procedures for efficient and compliant operations. These provisions aim to enhance cooperation, minimize conflicts, and protect the interests of all involved parties in the exploration and production of oil or gas resources.
