North Carolina Area of Mutual Interest Agreement

State:
Multi-State
Control #:
US-OG-682
Format:
Word; 
Rich Text
Instant download

Description

This form is an agreement between parties that own leasehold interests created by oil and gas leases. To facilitate the coordinated acquisition of additional Leases and exploration for and development of oil, gas, and other minerals from lands located in the general area of the Parties Leases, the Parties desire to enter into this Agreement to create an Area of Mutual Interest (the AMI).

The North Carolina Area of Mutual Interest (AMI) Agreement is a legal document that establishes a cooperative and collaborative relationship between parties with shared interests in a specific area of North Carolina. This agreement allows the parties involved to work together to identify and pursue opportunities for development, growth, and economic cooperation within the designated area. The North Carolina AMI Agreement is designed to promote efficiency, minimize competition, and maximize the utilization of resources within the identified area. One type of North Carolina AMI Agreement is the Energy Sector AMI. This agreement is typically signed between different energy companies, such as renewable energy developers, utility companies, and energy service providers. The Energy Sector AMI aims to facilitate the sharing of knowledge, resources, and expertise to encourage the development of renewable energy projects, improve energy efficiency, and advance the state's energy goals. Another type of North Carolina AMI Agreement is the Economic Development AMI. This agreement is commonly established between local government authorities, economic development agencies, and business organizations. The Economic Development AMI aims to foster collaboration in attracting businesses, promoting investment, and stimulating economic growth within a specific geographic region of North Carolina. This agreement often includes provisions for joint marketing efforts, information sharing, and the identification of infrastructure and workforce development needs. Additionally, there may be specific AMI agreements in various sectors such as healthcare, technology, manufacturing, tourism, and agriculture, each focusing on the unique challenges and opportunities within their field. In summary, a North Carolina Area of Mutual Interest Agreement is a collaborative document that enables parties with shared interests to work together towards common goals in a designated area. By signing this agreement, parties can pool their resources, expertise, and efforts to promote development, growth, and cooperation within their respective sectors or geographic regions.

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FAQ

An area of mutual interest (AMI) contract describes the geographic area contained in the AMI, the rights of each party (such as the percentage interest allocated to each company), the agreement's term, and how contract provisions are to be implemented.

Total operated basis: The total reserves or production associated with the wells operated by an individual operator. This is also commonly known as the "gross operated" or "8/8ths" basis.

Area Median Income (AMI) The AMI for all cities across the country is defined each year by U.S. Department of Housing and Urban Development (HUD). The 2023 AMI for the New York City region is $127,100 for a three-person family (100% AMI).

The Mutual Aid System is a voluntary agreement among North Carolina local governments to share resources during a disaster. All 100 counties, the Eastern Band of Cherokee Indians and nearly three-fourths of the 650 municipalities have signed the mutual aid agreement.

Area of Mutual Interest (AMI): a geographic area generally defined by a contract (e.g., Farmout, JOA, JDA or similar agreement) within which two or more persons hold an interest.

AFE: abbreviation of Authority for Expenditure. After Payout (APO): the period after Payout has occurred. In the context of a JOA or similar agreement, APO is often used to describe the period after the Consenting Parties have recovered the costs of Production plus the Non-Consent Penalty.

North Carolina General Statutes 47G-1 through 47G-7 govern the rent-to-own, or ?option contract? law. There are minimum contract requirements that must be present before the rent-to-own lease agreement is considered valid.

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DISPUTE RESOLUTION: The parties agree that it is in their mutual interest to resolve disputes informally. A claim by the Vendor shall be submitted in writing to. A "fill in the blank" form is sufficient to fulfill the requirement of a ... WHO MAY ENTER INTO MUTUAL AID AGREEMENTS IN NORTH CAROLINA? Answer.. Under ...An area of mutual interest (AMI) agreement is a pact between two or more oil or natural gas companies. An AMI agreement covers a defined geographic location for ... In addition to the consolidated agreement, local agencies operating within health departments must complete a budget and an agreement addendum for each program ... by W COUNTY · Cited by 1 — THIS SERVICE AGREEMENT (“Agreement”) is made and entered into as of the date of the last signature below by and between NORTH CAROLINA STATE UNIVERSITY, c/o ... Mar 24, 2022 — This factsheet explains the components of operating agreements for limited liability companies. B. This Agreement resolves the investigation conducted by the United States concerning alleged violations by the State of title II of the Americans with. Check the box marked. “District” for Court Division. B. Fill in your name and address and the name of the Defendant in the top left-hand part of the form. Note ... Interest on notes and bonds from states other than North Carolina should be included on Form D-400 Schedule S, Part A – Additions to Federal Adjusted Gross ... Mar 2, 2023 — A BILL TO BE ENTITLED. 1. AN ACT TO ESTABLISH JURISDICTION FOR PLANNING AND DEVELOPMENT. 2. REGULATIONS FOR LAND THAT LIES WITHIN THE ...

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North Carolina Area of Mutual Interest Agreement