This form provides for the reassignment of interests in the event a well is required to be drilled, deepened, reworked, plugged back, sidetracked, or recompleted, or any other operation that may be required in order to (1) continue a Lease or Leases in force and effect, or (2) maintain a unitized area or any portion of it in and to any Oil and/or Gas and other interest which may be owned by a third party or which, failing in the operation, may revert to a third party, or (3) comply with an order issued by a regulatory body
Wisconsin Provisions For JOB 82 Revised refers to the specific regulations and guidelines set forth by the state of Wisconsin regarding the implementation and management of Joint Operating Agreements (Jobs). Jobs are contractual arrangements that govern the relationship between two or more parties engaged in oil and gas exploration or production activities. Under Wisconsin Provisions For JOB 82 Revised, various provisions and clauses are outlined to ensure fair and efficient collaborations within the oil and gas industry. These provisions cover a wide range of aspects, including but not limited to: 1. Ownership and Interests: JOB 82 Revised defines the ownership interests and responsibilities of each party involved in the agreement. It outlines how costs, profits, and losses are distributed among the joint operators. 2. Operations and Management: This provision addresses the operational and managerial aspects of the joint venture, including decision-making processes, appointment of operators, and the submission of operational plans. 3. Drilling and Development: JOB 82 Revised provides guidelines on drilling and development programs, identifying specific procedures, safety measures, and environmental considerations that must be followed during the exploration and development phases. 4. Administrative Matters: This section covers administrative matters such as record-keeping, dispute resolution mechanisms, and audit rights to ensure transparency and accountability among the joint operators. 5. Default and Termination: Wisconsin Provisions For JOB 82 Revised outlines the consequences of default or termination of the agreement, including procedures for resolving disputes and the distribution of assets upon termination. Different types of Wisconsin Provisions For JOB 82 Revised may exist based on specific industries or jurisdictions within the state. For example, there may be separate provisions applicable to oil and gas exploration, mining, or other natural resource extraction activities. These variations may address industry-specific concerns and environmental considerations unique to each domain. In conclusion, Wisconsin Provisions For JOB 82 Revised lays down the essential rules and guidelines governing Joint Operating Agreements in the oil and gas industry. It ensures that parties involved in these agreements have a clear understanding of their rights, responsibilities, and obligations, facilitating smooth operations and minimizing potential conflicts.
