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 lands identified in Exhibit A to the Agreement. The Parties have reached an agreement to explore and develop the Leases and/or Oil and Gas Interests for the production of Oil and Gas to the extent and as provided for in this Agreement.
Wyoming Joint Operating Agreement 89-03 Revised
Category:
State:
Multi-State
Control #:
US-OG-759
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Joint Operating Agreement 89-03 Revised?
Are you presently in the place the place you need paperwork for sometimes business or specific purposes nearly every day? There are tons of authorized record templates available on the net, but finding types you can rely is not easy. US Legal Forms offers 1000s of kind templates, much like the Wyoming Joint Operating Agreement 89-03 Revised, which are published to fulfill state and federal needs.
When you are currently acquainted with US Legal Forms website and also have a free account, simply log in. Following that, you are able to obtain the Wyoming Joint Operating Agreement 89-03 Revised web template.
If you do not provide an account and need to start using US Legal Forms, adopt these measures:
- Discover the kind you want and ensure it is for your correct city/state.
- Make use of the Review key to review the shape.
- See the description to actually have selected the right kind.
- In case the kind is not what you are trying to find, take advantage of the Search field to obtain the kind that meets your needs and needs.
- Whenever you find the correct kind, click on Buy now.
- Select the costs plan you desire, complete the specified information and facts to generate your money, and buy your order with your PayPal or Visa or Mastercard.
- Pick a hassle-free file formatting and obtain your backup.
Discover each of the record templates you have bought in the My Forms menus. You can obtain a further backup of Wyoming Joint Operating Agreement 89-03 Revised anytime, if required. Just click the needed kind to obtain or produce the record web template.
Use US Legal Forms, one of the most extensive collection of authorized kinds, to conserve efforts and avoid faults. The support offers skillfully produced authorized record templates that you can use for a variety of purposes. Generate a free account on US Legal Forms and commence creating your daily life easier.
Form popularity
FAQ
A Joint Venture (JV) is the name given to a business formed by different companies that come together for a particular business. These parties enter into a Joint Operating Agreement (JOA) that binds them together. A JV is established for a specific purpose.
The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons. The parties to the agreement can be broadly classified as operators and non-operators. The operator is the one who is responsible for the day-to-day management and operation of the field.
A JOA is a way for co-venturers to apportion liability in ance with their agreed participating interest. Under a JOA, the parties: Appoint an operator to manage operations and dealings with the host state and other third parties on behalf of the consortium.
Joint Operating Agreements ("JOAs") are often used in capital-intensive resource industries by parties who wish to re- strict their exposure, particularly in limiting costs or liability.
The JOA serves several purposes, including identifying the property interests of the parties in the mineral lease, designating the party that is to act as operator, and setting forth the method for sharing expenses and for the allocation of liability for the oil and gas exploration and production operations.
Under a JOA, a joint account is established to keep track of income and expenses. Even though the JOA states the parties are not partners, an argument can be made that the parties are joint venturers or partners concerning the drilling of the initial well.
The JOA allows the newspapers jointly to set (monopo- lize) advertising and circulation prices. Editorial functions remain inde- pendently controlled by the two parties to the JOA.
The Joint Operating Agreement (JOA) in oil and gas industry is an underlying contractual framework of a Joint Venture (JV). The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons.