This form is an agreement used when the Owner is the owner of oil and gas properties consisting of producing mineral, royalty, overriding royalty, and working interests, and/or leased and unleased nonproducing mineral and royalty interests, all collectively referred to in this Agreement as the Properties. Owner desires to engage the services of Manager to advise and assist Owner in the management of the Properties, and Manager is willing to undertake those responsibilities in accordance with this Agreement.
A New Mexico Oil Gas Service Agreement for Management of Properties refers to a legal contract between the service provider and the property owner for the management of oil and gas properties in New Mexico. This agreement outlines the rights and responsibilities of both parties involved in the management process. Keywords: New Mexico, oil, gas, service agreement, management, properties There are several types of New Mexico Oil Gas Service Agreements for Management of Properties, including: 1. Lease Management Agreement: This type of agreement focuses on leasing activities such as negotiating lease agreements, collecting rent, and ensuring compliance with lease terms and regulations. 2. Production Management Agreement: This agreement specifically deals with the production aspects of oil and gas properties. It includes responsibilities related to drilling activities, well maintenance, and reporting production output. 3. Royalty Management Agreement: In this type of agreement, the service provider ensures accurate calculation and payment of royalties to the property owner based on production volumes and market prices. 4. Operations Management Agreement: This agreement focuses on the day-to-day operational aspects of oil and gas properties. It includes duties related to safety inspections, maintenance, and supervision of contractors. 5. Environmental Management Agreement: This agreement aims to ensure compliance with environmental regulations and best practices. It covers responsibilities related to environmental impact assessments, waste management, and remediation. In all types of agreements, common elements may include: — Duration: The agreement specifies the length of the contract, whether it is for a specific term or open-ended. — Scope of Services: It outlines the services the service provider will perform, which may include lease administration, accounting, maintenance, reporting, and compliance. — Compensation: The agreement defines the compensation structure for the service provider, which can be a flat fee, a percentage of revenue, or a combination of both. — Liability: The agreement addresses liability for damages or accidents that may occur during the management process, indemnification clauses, and insurance requirements. — Termination: It outlines the conditions under which either party can terminate the agreement, including notice periods and potential penalties. When considering a New Mexico Oil Gas Service Agreement for Management of Properties, it is crucial for both parties to carefully review and negotiate the terms to ensure a mutually beneficial and successful partnership in the management of oil and gas properties.A New Mexico Oil Gas Service Agreement for Management of Properties refers to a legal contract between the service provider and the property owner for the management of oil and gas properties in New Mexico. This agreement outlines the rights and responsibilities of both parties involved in the management process. Keywords: New Mexico, oil, gas, service agreement, management, properties There are several types of New Mexico Oil Gas Service Agreements for Management of Properties, including: 1. Lease Management Agreement: This type of agreement focuses on leasing activities such as negotiating lease agreements, collecting rent, and ensuring compliance with lease terms and regulations. 2. Production Management Agreement: This agreement specifically deals with the production aspects of oil and gas properties. It includes responsibilities related to drilling activities, well maintenance, and reporting production output. 3. Royalty Management Agreement: In this type of agreement, the service provider ensures accurate calculation and payment of royalties to the property owner based on production volumes and market prices. 4. Operations Management Agreement: This agreement focuses on the day-to-day operational aspects of oil and gas properties. It includes duties related to safety inspections, maintenance, and supervision of contractors. 5. Environmental Management Agreement: This agreement aims to ensure compliance with environmental regulations and best practices. It covers responsibilities related to environmental impact assessments, waste management, and remediation. In all types of agreements, common elements may include: — Duration: The agreement specifies the length of the contract, whether it is for a specific term or open-ended. — Scope of Services: It outlines the services the service provider will perform, which may include lease administration, accounting, maintenance, reporting, and compliance. — Compensation: The agreement defines the compensation structure for the service provider, which can be a flat fee, a percentage of revenue, or a combination of both. — Liability: The agreement addresses liability for damages or accidents that may occur during the management process, indemnification clauses, and insurance requirements. — Termination: It outlines the conditions under which either party can terminate the agreement, including notice periods and potential penalties. When considering a New Mexico Oil Gas Service Agreement for Management of Properties, it is crucial for both parties to carefully review and negotiate the terms to ensure a mutually beneficial and successful partnership in the management of oil and gas properties.
