A Texas Joint Control Agreement (also known as a "Joint Operating Agreement" or "JOB") is a contract between two or more owners of an oil and gas production project that outlines the rights and responsibilities of each party in the operation and management of the project. The agreement typically covers the sharing of costs and profits, as well as the roles and responsibilities of each party in the exploration, development, and production of the project. There are three main types of Texas Joint Control Agreement: 1. Proportional Joint Control Agreement: This agreement is used when multiple parties own the same percentage of the project and share in the costs and profits in the same proportion. 2. Non-Proportional Joint Control Agreement: This agreement is used when multiple parties own different percentages of the project and share in the costs and profits in different proportions. 3. Operator-Controlled Joint Control Agreement: This agreement is used when one party is designated as the operator and is responsible for managing the project, while the other parties share in the costs and profits of the project.
Texas Joint Control Agreement
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How to fill out Texas Joint Control Agreement?
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