This operating agreement is used when the parties to the Agreement are owners of oil and gas leases and/or oil and gas interests in the land identified in Exhibit A to the agreement, and have reached an agreement to explore and develop these leases and/or oil and gas interests for the production of oil and gas to the extent and as provided for in this Agreement.
The North Dakota Joint Operating Agreement 82 Revised is a legally binding contract that governs the relationship between two or more parties involved in the exploration, development, and production of oil and gas resources in the state of North Dakota. This agreement is based on the Model Form of Joint Operating Agreement (JOB) published by the American Association of Petroleum Landsmen (AAPL). The purpose of the North Dakota Joint Operating Agreement 82 Revised is to establish the rights, obligations, and responsibilities of the parties involved in the oil and gas operations within a defined area or project. It outlines the terms and conditions that the parties must adhere to during the entire project lifecycle. This agreement is designed to address the unique challenges and regulatory requirements specific to North Dakota's oil and gas industry. It incorporates revisions to the original North Dakota Joint Operating Agreement 82 to ensure compliance with changing laws, technological advancements, and industry best practices. The North Dakota Joint Operating Agreement 82 Revised covers various key aspects, such as the definition of participating and non-participating parties, the allocation of costs and expenses, the determination and distribution of production, and the operations and management of the project. It also addresses issues related to taxes, insurance, indemnification, confidentiality, and environmental protection. Different types or versions of the North Dakota Joint Operating Agreement 82 Revised may exist based on specific modifications or additions made by the parties involved. These modifications typically address matters such as drilling obligations, surface use agreements, acreage participation interests, preferential purchase rights, force majeure provisions, and dispute resolution mechanisms. In conclusion, the North Dakota Joint Operating Agreement 82 Revised provides a comprehensive framework for effective cooperation and coordination among parties involved in oil and gas operations in North Dakota. It establishes clear guidelines and procedures to ensure the successful and efficient development of oil and gas resources while protecting the interests of all parties involved.The North Dakota Joint Operating Agreement 82 Revised is a legally binding contract that governs the relationship between two or more parties involved in the exploration, development, and production of oil and gas resources in the state of North Dakota. This agreement is based on the Model Form of Joint Operating Agreement (JOB) published by the American Association of Petroleum Landsmen (AAPL). The purpose of the North Dakota Joint Operating Agreement 82 Revised is to establish the rights, obligations, and responsibilities of the parties involved in the oil and gas operations within a defined area or project. It outlines the terms and conditions that the parties must adhere to during the entire project lifecycle. This agreement is designed to address the unique challenges and regulatory requirements specific to North Dakota's oil and gas industry. It incorporates revisions to the original North Dakota Joint Operating Agreement 82 to ensure compliance with changing laws, technological advancements, and industry best practices. The North Dakota Joint Operating Agreement 82 Revised covers various key aspects, such as the definition of participating and non-participating parties, the allocation of costs and expenses, the determination and distribution of production, and the operations and management of the project. It also addresses issues related to taxes, insurance, indemnification, confidentiality, and environmental protection. Different types or versions of the North Dakota Joint Operating Agreement 82 Revised may exist based on specific modifications or additions made by the parties involved. These modifications typically address matters such as drilling obligations, surface use agreements, acreage participation interests, preferential purchase rights, force majeure provisions, and dispute resolution mechanisms. In conclusion, the North Dakota Joint Operating Agreement 82 Revised provides a comprehensive framework for effective cooperation and coordination among parties involved in oil and gas operations in North Dakota. It establishes clear guidelines and procedures to ensure the successful and efficient development of oil and gas resources while protecting the interests of all parties involved.
