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
San Antonio Texas Provisions for JOB 82 Revised refer to specific terms and conditions outlined in the Joint Operating Agreement (JOB) 82 Revised that apply specifically to oil and gas operations within the San Antonio area in Texas. These provisions dictate the rights, responsibilities, and obligations of the participating parties involved in oil and gas exploration and production activities in this region. The key provisions included in San Antonio Texas Provisions for JOB 82 Revised are as follows: 1. Operational Control: This provision outlines how operational control will be shared among the operating parties. It specifies the decision-making process, including requirements for gaining consensus or invoking default procedures in case of disagreement. 2. Accounting: This provision details the procedures and standards for accounting and record-keeping related to the expenditure of funds, revenue sharing, profits, and losses among the participating parties. 3. Financial Obligations: It covers the financial obligations of the parties involved, including the initial capital contribution, additional contributions, and reimbursement for operational expenses. 4. Insurance and Risk Management: This provision addresses the necessary insurance coverage required for the project, such as liability, property, and casualty insurance, as well as the allocation of risks and liabilities among the involved parties. 5. Default and Default Remedies: It delineates the consequences and remedies applicable in case of default by any party, including default notice, the right to terminate the agreement, and potential litigation procedures. San Antonio Texas Provisions for JOB 82 Revised can also vary slightly based on the specific type of operation. These variants may include: 1. Onshore Provisions: If the San Antonio JOB 82 Revised specifically deals with onshore oil and gas operations, there might be additional clauses related to land acquisition, surface use agreements, and environmental regulations specific to these operations. 2. Offshore Provisions: For offshore operations in San Antonio, supplemental provisions can cover aspects unique to offshore drilling, such as deep-sea drilling procedures, maritime regulations, and safety measures to address potential oil spills or other environmental risks. 3. Shale Gas Provisions: In the context of shale gas exploration and production, the provisions might include additional clauses related to hydraulic fracturing techniques, water management, and disposal of produced water. 4. Joint Ventures with Indigenous Communities: If the JOB involves joint ventures or partnerships with indigenous communities, provisions may be included to ensure cultural sensitivity, respect for ancestral lands and traditions, and indigenous participation in decision-making processes. It is crucial for all parties involved in San Antonio Texas Provisions for JOB 82 Revised to review and comprehend these provisions thoroughly, as they establish the legal framework, define expectations, and govern the joint operations within the San Antonio region. Compliance with these provisions is essential for successful and mutually beneficial oil and gas operations in San Antonio, Texas.San Antonio Texas Provisions for JOB 82 Revised refer to specific terms and conditions outlined in the Joint Operating Agreement (JOB) 82 Revised that apply specifically to oil and gas operations within the San Antonio area in Texas. These provisions dictate the rights, responsibilities, and obligations of the participating parties involved in oil and gas exploration and production activities in this region. The key provisions included in San Antonio Texas Provisions for JOB 82 Revised are as follows: 1. Operational Control: This provision outlines how operational control will be shared among the operating parties. It specifies the decision-making process, including requirements for gaining consensus or invoking default procedures in case of disagreement. 2. Accounting: This provision details the procedures and standards for accounting and record-keeping related to the expenditure of funds, revenue sharing, profits, and losses among the participating parties. 3. Financial Obligations: It covers the financial obligations of the parties involved, including the initial capital contribution, additional contributions, and reimbursement for operational expenses. 4. Insurance and Risk Management: This provision addresses the necessary insurance coverage required for the project, such as liability, property, and casualty insurance, as well as the allocation of risks and liabilities among the involved parties. 5. Default and Default Remedies: It delineates the consequences and remedies applicable in case of default by any party, including default notice, the right to terminate the agreement, and potential litigation procedures. San Antonio Texas Provisions for JOB 82 Revised can also vary slightly based on the specific type of operation. These variants may include: 1. Onshore Provisions: If the San Antonio JOB 82 Revised specifically deals with onshore oil and gas operations, there might be additional clauses related to land acquisition, surface use agreements, and environmental regulations specific to these operations. 2. Offshore Provisions: For offshore operations in San Antonio, supplemental provisions can cover aspects unique to offshore drilling, such as deep-sea drilling procedures, maritime regulations, and safety measures to address potential oil spills or other environmental risks. 3. Shale Gas Provisions: In the context of shale gas exploration and production, the provisions might include additional clauses related to hydraulic fracturing techniques, water management, and disposal of produced water. 4. Joint Ventures with Indigenous Communities: If the JOB involves joint ventures or partnerships with indigenous communities, provisions may be included to ensure cultural sensitivity, respect for ancestral lands and traditions, and indigenous participation in decision-making processes. It is crucial for all parties involved in San Antonio Texas Provisions for JOB 82 Revised to review and comprehend these provisions thoroughly, as they establish the legal framework, define expectations, and govern the joint operations within the San Antonio region. Compliance with these provisions is essential for successful and mutually beneficial oil and gas operations in San Antonio, Texas.
