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 land identified in Exhibit A to the Agreement, and the parties 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.
North Dakota Joint Operating Agreement 89 Revised is a legal document that establishes the framework for a cooperative relationship between multiple parties involved in oil and gas operations within the state of North Dakota. This agreement governs the joint exploration, development, and production activities undertaken by the parties in a specific area or field. The North Dakota Joint Operating Agreement 89 Revised is designed to ensure the efficient and effective working of all parties involved, while safeguarding their rights and interests. It outlines the rights, responsibilities, and obligations of the operating parties, including the operator and non-operators. This agreement typically addresses several key aspects, including the purpose and scope of the joint operations, detailed definitions of various terms used, the appointment of an operator responsible for day-to-day activities, financial matters such as the allocation of costs and expenses, accounting procedures, and the sharing of profits and losses among the parties. Additionally, the North Dakota Joint Operating Agreement 89 Revised discusses specific regulations and compliance requirements relevant to the jurisdiction of North Dakota. It highlights the need for compliance with state laws, permits, and regulations, as well as any specific environmental or safety guidelines that must be followed. It is important to note that North Dakota Joint Operating Agreement 89 Revised may have various types or forms, depending on the specific needs and preferences of the contracting parties. Some possible variations may include variations in the term and duration of the agreement, the specific assets or geographical areas covered, and any custom provisions or amendments required by the parties. Overall, the North Dakota Joint Operating Agreement 89 Revised serves as a crucial legal instrument that enables multiple parties to collaborate and engage in oil and gas operations in North Dakota in a mutually beneficial and regulated manner. It establishes clear guidelines and mitigates potential conflicts, ensuring a smooth and coordinated approach to resource development within the state.North Dakota Joint Operating Agreement 89 Revised is a legal document that establishes the framework for a cooperative relationship between multiple parties involved in oil and gas operations within the state of North Dakota. This agreement governs the joint exploration, development, and production activities undertaken by the parties in a specific area or field. The North Dakota Joint Operating Agreement 89 Revised is designed to ensure the efficient and effective working of all parties involved, while safeguarding their rights and interests. It outlines the rights, responsibilities, and obligations of the operating parties, including the operator and non-operators. This agreement typically addresses several key aspects, including the purpose and scope of the joint operations, detailed definitions of various terms used, the appointment of an operator responsible for day-to-day activities, financial matters such as the allocation of costs and expenses, accounting procedures, and the sharing of profits and losses among the parties. Additionally, the North Dakota Joint Operating Agreement 89 Revised discusses specific regulations and compliance requirements relevant to the jurisdiction of North Dakota. It highlights the need for compliance with state laws, permits, and regulations, as well as any specific environmental or safety guidelines that must be followed. It is important to note that North Dakota Joint Operating Agreement 89 Revised may have various types or forms, depending on the specific needs and preferences of the contracting parties. Some possible variations may include variations in the term and duration of the agreement, the specific assets or geographical areas covered, and any custom provisions or amendments required by the parties. Overall, the North Dakota Joint Operating Agreement 89 Revised serves as a crucial legal instrument that enables multiple parties to collaborate and engage in oil and gas operations in North Dakota in a mutually beneficial and regulated manner. It establishes clear guidelines and mitigates potential conflicts, ensuring a smooth and coordinated approach to resource development within the state.
