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
Harris Texas Provisions for JOB 82 Revised: A Comprehensive Overview The Harris Texas Provisions for JOB 82 Revised is a set of regulations and agreements that govern the oil and gas industry in Harris County, Texas. These provisions outline the terms and conditions for Joint Operating Agreements (Jobs) within the region, ensuring the smooth functioning of oil and gas operations while addressing various concerns and interests. 1. Purpose and Scope: The Harris Texas Provisions for JOB 82 Revised aim to establish a framework for collaborative efforts among operators, non-operators, and working interest owners involved in oil and gas exploration, development, and production activities within Harris County. The provisions cover an extensive range of topics, including but not limited to drilling obligations, cost-sharing arrangements, assignments, preferential rights, and environmental compliance. 2. Key Keywords: To better understand the scope and significance of Harris Texas Provisions for JOB 82 Revised, it is essential to familiarize yourself with relevant keywords, such as: 2.1. Joint Operating Agreement (JOB): This legal contract governs the relationships and responsibilities among parties engaged in a joint venture for oil and gas operations. The revised provisions specifically pertain to JOB 82, indicating that it is an updated version of the original JOB agreement. 2.2. Harris County, Texas: Harris County is located in Southeast Texas, encompassing Houston—the fourth-largest city in the United States. Recognized as a significant hub for the oil and gas industry, Harris County houses numerous exploration and production companies and is home to vast energy reserves. 3. Types of Harris Texas Provisions for JOB 82 Revised: While the provisions apply to all JOB agreements within Harris County, specific types can be identified: 3.1. Drilling Obligations: These provisions outline the responsibilities and requirements related to drilling operations, including the obligation to drill or re-drill wells within stipulated timeframes. It covers crucial aspects like site selection, permitting, and technical specifications. 3.2. Cost-Sharing Arrangements: Harris Texas Provisions for JOB 82 Revised define the cost-sharing mechanisms among the parties involved, ensuring fairness and equitable distribution of expenses related to drilling, production, maintenance, and decommissioning. The revised provisions might introduce new formulas or approaches to cost allocation. 3.3. Assignments and Preferential Rights: These provisions govern the transfer of interests between parties within the JOB. It describes the terms and conditions for assignments, including approval procedures and preferential rights of existing parties to acquire the interests being offered for assignment. 3.4. Environmental Compliance: Recognizing the importance of environmental protection, Harris Texas Provisions for JOB 82 Revised incorporate clauses and guidelines to ensure the adherence to local, state, and federal environmental regulations. This includes measures to minimize the impact of drilling and production activities on air, water, and land resources. In conclusion, the Harris Texas Provisions for JOB 82 Revised provide a comprehensive framework to regulate oil and gas operations within Harris County. Understanding the different aspects covered by these provisions is essential for industry stakeholders to navigate joint ventures effectively and ensure compliance with relevant regulations.Harris Texas Provisions for JOB 82 Revised: A Comprehensive Overview The Harris Texas Provisions for JOB 82 Revised is a set of regulations and agreements that govern the oil and gas industry in Harris County, Texas. These provisions outline the terms and conditions for Joint Operating Agreements (Jobs) within the region, ensuring the smooth functioning of oil and gas operations while addressing various concerns and interests. 1. Purpose and Scope: The Harris Texas Provisions for JOB 82 Revised aim to establish a framework for collaborative efforts among operators, non-operators, and working interest owners involved in oil and gas exploration, development, and production activities within Harris County. The provisions cover an extensive range of topics, including but not limited to drilling obligations, cost-sharing arrangements, assignments, preferential rights, and environmental compliance. 2. Key Keywords: To better understand the scope and significance of Harris Texas Provisions for JOB 82 Revised, it is essential to familiarize yourself with relevant keywords, such as: 2.1. Joint Operating Agreement (JOB): This legal contract governs the relationships and responsibilities among parties engaged in a joint venture for oil and gas operations. The revised provisions specifically pertain to JOB 82, indicating that it is an updated version of the original JOB agreement. 2.2. Harris County, Texas: Harris County is located in Southeast Texas, encompassing Houston—the fourth-largest city in the United States. Recognized as a significant hub for the oil and gas industry, Harris County houses numerous exploration and production companies and is home to vast energy reserves. 3. Types of Harris Texas Provisions for JOB 82 Revised: While the provisions apply to all JOB agreements within Harris County, specific types can be identified: 3.1. Drilling Obligations: These provisions outline the responsibilities and requirements related to drilling operations, including the obligation to drill or re-drill wells within stipulated timeframes. It covers crucial aspects like site selection, permitting, and technical specifications. 3.2. Cost-Sharing Arrangements: Harris Texas Provisions for JOB 82 Revised define the cost-sharing mechanisms among the parties involved, ensuring fairness and equitable distribution of expenses related to drilling, production, maintenance, and decommissioning. The revised provisions might introduce new formulas or approaches to cost allocation. 3.3. Assignments and Preferential Rights: These provisions govern the transfer of interests between parties within the JOB. It describes the terms and conditions for assignments, including approval procedures and preferential rights of existing parties to acquire the interests being offered for assignment. 3.4. Environmental Compliance: Recognizing the importance of environmental protection, Harris Texas Provisions for JOB 82 Revised incorporate clauses and guidelines to ensure the adherence to local, state, and federal environmental regulations. This includes measures to minimize the impact of drilling and production activities on air, water, and land resources. In conclusion, the Harris Texas Provisions for JOB 82 Revised provide a comprehensive framework to regulate oil and gas operations within Harris County. Understanding the different aspects covered by these provisions is essential for industry stakeholders to navigate joint ventures effectively and ensure compliance with relevant regulations.
