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.
Travis Texas Oil Gas Service Agreement for Management of Properties is a legally binding contract entered into between an oil or gas company (referred to as the "Service Provider") and the property owner (referred to as the "Client"). This agreement outlines the roles, responsibilities, and terms of the partnership in managing oil or gas properties located in Travis County, Texas. The purpose of the Travis Texas Oil Gas Service Agreement for Management of Properties is to establish a working relationship that ensures efficient and effective operations in the exploration, production, and maintenance of oil and gas properties. It covers various aspects related to the management of such properties, including drilling, well operations, maintenance, leasing, production, marketing, and revenue distribution. Key terms that are typically included in this agreement are: 1. Parties involved: The agreement clearly identifies the Service Provider and the Client, along with their contact details. 2. Scope of services: It specifies the range of services to be provided by the Service Provider, which may include well drilling, production operations, maintenance, royalty collection, land leasing, record-keeping, regulatory compliance, and more. 3. Property description: The agreement outlines the specific properties covered under the management agreement, including legal descriptions, acreage, and any related infrastructure. 4. Duration: It states the agreed period during which the Service Provider will manage the properties. Typically, such agreements have a fixed term, which can be renewable or extendable upon mutual agreement. 5. Service fees and compensation: The agreement specifies the compensation structure, including any upfront fees, management fees, and percentages of revenue that the Service Provider will receive as compensation for their services. 6. Insurance and liabilities: It details the insurance requirements, indemnification provisions, and the allocation of liabilities between the Service Provider and the Client. 7. Termination clauses: It outlines the conditions under which either party can terminate the agreement, including default provisions, non-performance, or mutual agreement. 8. Confidentiality and non-compete agreements: The agreement may include provisions regarding the confidentiality of proprietary information and non-compete clauses to protect the Service Provider's trade secrets. Different types of Travis Texas Oil Gas Service Agreement for Management of Properties can exist depending on specific requirements and circumstances. Variations may include agreements for specific services like drilling and completion, well operations, lease management, royalty collection, or comprehensive management covering all aspects of oil and gas property management. To ensure a successful partnership, it is essential for both parties to carefully review and understand the terms outlined in the Travis Texas Oil Gas Service Agreement for Management of Properties, seeking legal counsel if necessary, before entering into this binding contract.Travis Texas Oil Gas Service Agreement for Management of Properties is a legally binding contract entered into between an oil or gas company (referred to as the "Service Provider") and the property owner (referred to as the "Client"). This agreement outlines the roles, responsibilities, and terms of the partnership in managing oil or gas properties located in Travis County, Texas. The purpose of the Travis Texas Oil Gas Service Agreement for Management of Properties is to establish a working relationship that ensures efficient and effective operations in the exploration, production, and maintenance of oil and gas properties. It covers various aspects related to the management of such properties, including drilling, well operations, maintenance, leasing, production, marketing, and revenue distribution. Key terms that are typically included in this agreement are: 1. Parties involved: The agreement clearly identifies the Service Provider and the Client, along with their contact details. 2. Scope of services: It specifies the range of services to be provided by the Service Provider, which may include well drilling, production operations, maintenance, royalty collection, land leasing, record-keeping, regulatory compliance, and more. 3. Property description: The agreement outlines the specific properties covered under the management agreement, including legal descriptions, acreage, and any related infrastructure. 4. Duration: It states the agreed period during which the Service Provider will manage the properties. Typically, such agreements have a fixed term, which can be renewable or extendable upon mutual agreement. 5. Service fees and compensation: The agreement specifies the compensation structure, including any upfront fees, management fees, and percentages of revenue that the Service Provider will receive as compensation for their services. 6. Insurance and liabilities: It details the insurance requirements, indemnification provisions, and the allocation of liabilities between the Service Provider and the Client. 7. Termination clauses: It outlines the conditions under which either party can terminate the agreement, including default provisions, non-performance, or mutual agreement. 8. Confidentiality and non-compete agreements: The agreement may include provisions regarding the confidentiality of proprietary information and non-compete clauses to protect the Service Provider's trade secrets. Different types of Travis Texas Oil Gas Service Agreement for Management of Properties can exist depending on specific requirements and circumstances. Variations may include agreements for specific services like drilling and completion, well operations, lease management, royalty collection, or comprehensive management covering all aspects of oil and gas property management. To ensure a successful partnership, it is essential for both parties to carefully review and understand the terms outlined in the Travis Texas Oil Gas Service Agreement for Management of Properties, seeking legal counsel if necessary, before entering into this binding contract.
