This operating agreement is used when the Parties to this Agreement are owners of Oil and Gas Leases and/or Oil and Gas Interests in the lands identified in Exhibit A to the Agreement. The Parties have reached an agreement to explore and develop the Leases and/or Oil and Gas Interests for the production of Oil and Gas to the extent and as provided for in this Agreement.
Maine Joint Operating Agreement 89-03 Revised, also known as MOA 89-03 Revised, is a legally binding agreement often used in the oil and gas industry. This agreement establishes the basis for joint operations between multiple parties involved in exploration, development, and production activities in Maine. MOA 89-03 Revised is specifically tailored to the unique requirements of operating in the state of Maine. It outlines the roles, responsibilities, rights, and obligations of the participating parties, ensuring efficient and effective collaboration for successful operations. The agreement provides a framework for cost sharing among the parties, ensuring that the financial burden is distributed fairly according to each party's working interest. It also addresses key issues such as decision-making processes, liability and indemnity provisions, dispute resolution mechanisms, and the allocation of production revenues and costs. It is important to note that there might be variations or subtypes of MOA 89-03 Revised, tailored to specific regions or projects within Maine. These variants are typically named after the specific geographic area or project involved. Some examples might include: 1. Offshore Maine Joint Operating Agreement 89-03 Revised: This subtype focuses on joint operations related to offshore exploration and production activities in Maine's coastal areas. 2. Onshore Maine Joint Operating Agreement 89-03 Revised: This subtype pertains to joint operations related to onshore oil and gas exploration, drilling, and production activities in Maine's terrestrial regions. 3. Deepwater Maine Joint Operating Agreement 89-03 Revised: This subtype specifically covers joint operations for offshore drilling and production in Maine's deepwater areas, where the water depth exceeds a certain threshold. 4. Exploration and Appraisal Maine Joint Operating Agreement 89-03 Revised: This subtype is utilized for joint operations specifically in the exploration and appraisal stages of oil and gas projects in Maine, providing a framework for cost sharing and decision-making during these crucial phases. These examples illustrate the varying types of MOA 89-03 Revised, which may be adapted to suit the specific requirements and characteristics of different projects or regions within Maine. It is essential for the parties involved to carefully review and customize the agreement to meet their unique needs while complying with applicable laws and regulations.Maine Joint Operating Agreement 89-03 Revised, also known as MOA 89-03 Revised, is a legally binding agreement often used in the oil and gas industry. This agreement establishes the basis for joint operations between multiple parties involved in exploration, development, and production activities in Maine. MOA 89-03 Revised is specifically tailored to the unique requirements of operating in the state of Maine. It outlines the roles, responsibilities, rights, and obligations of the participating parties, ensuring efficient and effective collaboration for successful operations. The agreement provides a framework for cost sharing among the parties, ensuring that the financial burden is distributed fairly according to each party's working interest. It also addresses key issues such as decision-making processes, liability and indemnity provisions, dispute resolution mechanisms, and the allocation of production revenues and costs. It is important to note that there might be variations or subtypes of MOA 89-03 Revised, tailored to specific regions or projects within Maine. These variants are typically named after the specific geographic area or project involved. Some examples might include: 1. Offshore Maine Joint Operating Agreement 89-03 Revised: This subtype focuses on joint operations related to offshore exploration and production activities in Maine's coastal areas. 2. Onshore Maine Joint Operating Agreement 89-03 Revised: This subtype pertains to joint operations related to onshore oil and gas exploration, drilling, and production activities in Maine's terrestrial regions. 3. Deepwater Maine Joint Operating Agreement 89-03 Revised: This subtype specifically covers joint operations for offshore drilling and production in Maine's deepwater areas, where the water depth exceeds a certain threshold. 4. Exploration and Appraisal Maine Joint Operating Agreement 89-03 Revised: This subtype is utilized for joint operations specifically in the exploration and appraisal stages of oil and gas projects in Maine, providing a framework for cost sharing and decision-making during these crucial phases. These examples illustrate the varying types of MOA 89-03 Revised, which may be adapted to suit the specific requirements and characteristics of different projects or regions within Maine. It is essential for the parties involved to carefully review and customize the agreement to meet their unique needs while complying with applicable laws and regulations.
