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
Queens New York Provisions for JOB 82 Revised: In Queens, New York, the Provisions for JOB 82 Revised refer to a set of regulations and guidelines designed to govern Joint Operating Agreements (Jobs) in the petroleum industry. These provisions have been revised and updated to ensure efficient and fair operations in oil and gas exploration and production activities in Queens. The Queens New York Provisions for JOB 82 Revised aim to establish clear guidelines for the parties involved in a JOB, including operators, non-operators, and working interest owners. The provisions cover various aspects of the agreement, including rights, obligations, and responsibilities of each party. The key provisions outlined in JOB 82 Revised include: 1. Voting rights and procedures: The provisions specify how voting on significant decisions is conducted, including the criteria for a qualified vote and the required majority for making important decisions that affect the operations. 2. Financial obligations: JOB 82 Revised lays out the financial responsibilities of each party, including the funding of exploration and development activities, budgeting, and cost allocations. It ensures that all parties contribute fairly based on their working interests. 3. Operating procedures: These provisions define the standards and methods for conducting operations, such as drilling, well maintenance, and production operations. They ensure compliance with safety regulations, environmental protection measures, and industry best practices. 4. Dispute resolution: JOB 82 Revised outlines the procedures for resolving disputes between parties, including mechanisms for mediation, arbitration, or litigation if necessary. This provision helps maintain a harmonious relationship among the involved parties and promotes timely conflict resolution. 5. Termination and withdrawal: It specifies the circumstances under which a party can terminate or withdraw from the JOB, including default scenarios, bankruptcy, or breach of contractual obligations. These provisions protect the interests of all parties in case of unforeseen circumstances. Different Types of Queens New York Provisions for JOB 82 Revised: While there might not be distinct types of Queens New York Provisions for JOB 82 Revised, variations may exist based on the specific oil and gas projects or initiatives within Queens. The provisions can be tailored to suit the unique requirements and intricacies of each JOB, considering factors such as the project scale, stakeholder interests, and regulatory framework. The Queens New York Provisions for JOB 82 Revised can be adopted by various stakeholders, including private companies, government entities, and regulatory bodies, engaged in petroleum exploration and production in Queens. Compliance with these provisions ensures transparent and efficient operations, promoting the sustainable development of the local petroleum industry while safeguarding the environment and stakeholder interests.Queens New York Provisions for JOB 82 Revised: In Queens, New York, the Provisions for JOB 82 Revised refer to a set of regulations and guidelines designed to govern Joint Operating Agreements (Jobs) in the petroleum industry. These provisions have been revised and updated to ensure efficient and fair operations in oil and gas exploration and production activities in Queens. The Queens New York Provisions for JOB 82 Revised aim to establish clear guidelines for the parties involved in a JOB, including operators, non-operators, and working interest owners. The provisions cover various aspects of the agreement, including rights, obligations, and responsibilities of each party. The key provisions outlined in JOB 82 Revised include: 1. Voting rights and procedures: The provisions specify how voting on significant decisions is conducted, including the criteria for a qualified vote and the required majority for making important decisions that affect the operations. 2. Financial obligations: JOB 82 Revised lays out the financial responsibilities of each party, including the funding of exploration and development activities, budgeting, and cost allocations. It ensures that all parties contribute fairly based on their working interests. 3. Operating procedures: These provisions define the standards and methods for conducting operations, such as drilling, well maintenance, and production operations. They ensure compliance with safety regulations, environmental protection measures, and industry best practices. 4. Dispute resolution: JOB 82 Revised outlines the procedures for resolving disputes between parties, including mechanisms for mediation, arbitration, or litigation if necessary. This provision helps maintain a harmonious relationship among the involved parties and promotes timely conflict resolution. 5. Termination and withdrawal: It specifies the circumstances under which a party can terminate or withdraw from the JOB, including default scenarios, bankruptcy, or breach of contractual obligations. These provisions protect the interests of all parties in case of unforeseen circumstances. Different Types of Queens New York Provisions for JOB 82 Revised: While there might not be distinct types of Queens New York Provisions for JOB 82 Revised, variations may exist based on the specific oil and gas projects or initiatives within Queens. The provisions can be tailored to suit the unique requirements and intricacies of each JOB, considering factors such as the project scale, stakeholder interests, and regulatory framework. The Queens New York Provisions for JOB 82 Revised can be adopted by various stakeholders, including private companies, government entities, and regulatory bodies, engaged in petroleum exploration and production in Queens. Compliance with these provisions ensures transparent and efficient operations, promoting the sustainable development of the local petroleum industry while safeguarding the environment and stakeholder interests.
