Kansas Management Agreement between The Wiser Oil Co. and Wiser Investment Co., LLC

• Category: Corporations - Public - Management
• State: Multi-State
• Control #: US-EG-9411
• Format: Word; Rich Text

Description

Management Agreement between The Wiser Oil Company and Wiser Investment Company, LLC regarding management services dated 00/00. 6 pages. The Kansas Management Agreement is a legally binding contract that outlines the terms and conditions governing the relationship between The Wiser Oil Co. and Wiser Investment Co., LLC in managing various aspects of their operations in the state of Kansas. This agreement is crucial for ensuring a smooth and efficient working relationship between the two entities. Key Terms and Provisions: 1. Scope of Management: The agreement specifies the specific areas and assets within Kansas that will be managed by Wiser Investment Co., LLC on behalf of The Wiser Oil Co. These may include oil and gas fields, wells, pipelines, storage facilities, and other related infrastructure. 2. Responsibilities: The agreement details the specific responsibilities and duties of Wiser Investment Co., LLC in managing the designated assets. This includes activities such as exploration, production, maintenance, safety compliance, financial management, and reporting. 3. Term and Termination: The agreement establishes the duration of the management arrangement, along with provisions for termination or renewal. It outlines the notice period required for termination and any penalties or consequences for a breach of contract. 4. Compensation and Fees: The agreement defines the compensation structure for Wiser Investment Co., LLC's management services, which may include a fixed fee, performance-based incentives, or a percentage of the profits generated from the managed assets. It also clarifies any reimbursement of expenses incurred during the course of management. 5. Reporting and Communication: The agreement outlines the reporting requirements and frequency, including financial statements, production reports, and any other relevant information. It also establishes clear lines of communication between the two parties and designates specific points of contact. 6. Confidentiality and Non-Disclosure: This provision ensures the protection of sensitive information shared between the two parties while conducting business activities. It prohibits the disclosure of proprietary or confidential data to unauthorized individuals or entities. 7. Dispute Resolution: In the event of any disputes or disagreements between the parties, the agreement establishes a mechanism for resolution, such as mediation, arbitration, or litigation. Types of Kansas Management Agreements: 1. Oil and Gas Exploration and Production Management Agreement: This agreement focuses on managing the exploration, production, and related operations of oil and gas fields in Kansas. 2. Midstream Infrastructure Management Agreement: This type of agreement primarily deals with the management of pipelines, storage facilities, and other midstream assets within Kansas. 3. Asset-specific Management Agreement: In some cases, the agreement may be tailored to manage specific assets or projects within Kansas, providing a more customized approach to management. In summary, the Kansas Management Agreement between The Wiser Oil Co. and Wiser Investment Co., LLC is a comprehensive contract that governs the management of various assets and operations within the state. By clearly defining the rights, responsibilities, and obligations of both parties, this agreement ensures a mutually beneficial and successful working relationship.

The Kansas Management Agreement is a legally binding contract that outlines the terms and conditions governing the relationship between The Wiser Oil Co. and Wiser Investment Co., LLC in managing various aspects of their operations in the state of Kansas. This agreement is crucial for ensuring a smooth and efficient working relationship between the two entities. Key Terms and Provisions: 1. Scope of Management: The agreement specifies the specific areas and assets within Kansas that will be managed by Wiser Investment Co., LLC on behalf of The Wiser Oil Co. These may include oil and gas fields, wells, pipelines, storage facilities, and other related infrastructure. 2. Responsibilities: The agreement details the specific responsibilities and duties of Wiser Investment Co., LLC in managing the designated assets. This includes activities such as exploration, production, maintenance, safety compliance, financial management, and reporting. 3. Term and Termination: The agreement establishes the duration of the management arrangement, along with provisions for termination or renewal. It outlines the notice period required for termination and any penalties or consequences for a breach of contract. 4. Compensation and Fees: The agreement defines the compensation structure for Wiser Investment Co., LLC's management services, which may include a fixed fee, performance-based incentives, or a percentage of the profits generated from the managed assets. It also clarifies any reimbursement of expenses incurred during the course of management. 5. Reporting and Communication: The agreement outlines the reporting requirements and frequency, including financial statements, production reports, and any other relevant information. It also establishes clear lines of communication between the two parties and designates specific points of contact. 6. Confidentiality and Non-Disclosure: This provision ensures the protection of sensitive information shared between the two parties while conducting business activities. It prohibits the disclosure of proprietary or confidential data to unauthorized individuals or entities. 7. Dispute Resolution: In the event of any disputes or disagreements between the parties, the agreement establishes a mechanism for resolution, such as mediation, arbitration, or litigation. Types of Kansas Management Agreements: 1. Oil and Gas Exploration and Production Management Agreement: This agreement focuses on managing the exploration, production, and related operations of oil and gas fields in Kansas. 2. Midstream Infrastructure Management Agreement: This type of agreement primarily deals with the management of pipelines, storage facilities, and other midstream assets within Kansas. 3. Asset-specific Management Agreement: In some cases, the agreement may be tailored to manage specific assets or projects within Kansas, providing a more customized approach to management. In summary, the Kansas Management Agreement between The Wiser Oil Co. and Wiser Investment Co., LLC is a comprehensive contract that governs the management of various assets and operations within the state. By clearly defining the rights, responsibilities, and obligations of both parties, this agreement ensures a mutually beneficial and successful working relationship.