This form is an agreement used when the Owner is the owner of oil and gas properties consisting of producing mineral, royalty, overriding royalty, and working interests, and/or leased and unleased nonproducing mineral and royalty interests, all collectively referred to in this Agreement as the Properties. Owner desires to engage the services of Manager to advise and assist Owner in the management of the Properties, and Manager is willing to undertake those responsibilities in accordance with this Agreement.
Georgia Oil Gas Service Agreement for Management of Properties is a legally binding contract between an oil and gas service provider and a property owner in the state of Georgia. This agreement outlines the terms and conditions under which the service provider will manage the oil and gas properties on behalf of the owner. Keywords: Georgia, oil and gas, service agreement, management, properties. There are several types of Georgia Oil Gas Service Agreements for Management of Properties, including: 1. Lease Management Agreement: This type of agreement is signed when the property owner wants the service provider to manage oil and gas lease agreements with different tenants. The service provider handles all aspects of lease administration, such as negotiating new leases, renewals, rental payments, and resolving any disputes between the owner and tenants. 2. Production Management Agreement: This agreement is entered into when the property owner requires the service provider to oversee the production activities on the oil and gas properties. The service provider ensures efficient operations, monitors production levels, coordinates maintenance and repairs, and submits regular reports to the owner regarding production data and revenue generated. 3. Environmental Management Agreement: In cases where the oil and gas properties have environmental concerns, such as pollution or waste management, the property owner may enter into an environmental management agreement. The service provider is responsible for complying with applicable environmental regulations, implementing remediation plans, and conducting regular audits to ensure the property is in compliance with environmental standards. 4. Regulatory Compliance Agreement: This type of agreement is essential to ensure that the oil and gas properties are being operated according to local, state, and federal regulations. The service provider ensures compliance with safety standards, well inspections, reporting requirements, and all other regulatory obligations mandated by the Georgia Environmental Protection Division (END) and other governing bodies. 5. Financial Management Agreement: If the property owner wants the service provider to handle financial matters related to the oil and gas properties, they may enter into a financial management agreement. The service provider collects revenue from oil and gas production, tracks expenses, prepares financial statements, and provides regular financial reports to the owner. In conclusion, the Georgia Oil Gas Service Agreement for Management of Properties is a comprehensive contract that defines the relationship between an oil and gas service provider and a property owner. By specifying the type of agreement required, this document provides a clear framework for the service provider to effectively manage various aspects of the oil and gas properties, ensuring compliance, maximizing production, and protecting the owner's interests.
