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
Santa Clara California Provisions for JOB 82 Revised refer to the specific regulations and provisions outlined in the Joint Operating Agreement (JOB) for oil and gas exploration and production activities in Santa Clara, California. These provisions have undergone certain revisions to address any changes or updates in the operating practices and legal requirements in the area. The JOB 82 Revised provisions in Santa Clara, California are designed to create a framework for efficient and effective collaboration among the parties involved in oil and gas projects. The provisions cover various aspects, including but not limited to: 1. Asset Ownership: The revised JOB provisions establish the ownership rights and interests of the participating parties involved in the oil and gas operations. This ensures clarity and transparency in the allocation of ownership stakes, allowing for smooth decision-making processes. 2. Management of Operations: The provisions outline the roles, responsibilities, and decision-making capabilities of each party involved in the JOB. This includes the operator who oversees day-to-day operations, as well as the non-operators who have a stake in the project. 3. Cost Sharing and Accounting: The JOB 82 Revised provisions establish the mechanism for cost-sharing among the parties. It outlines the procedures for budgeting, accounting, and auditing to ensure fair distribution of costs and revenues associated with the project. 4. Confidentiality and Intellectual Property Rights: These provisions address the protection of confidential information and intellectual property rights of the participating parties. This ensures that proprietary information, data, and technology are safeguarded throughout the project. 5. Duration and Termination: The Santa Clara California Provisions for JOB 82 Revised also specify the duration of the agreement and the conditions under which it can be terminated. This provides a clear understanding of the project's timeline and enables parties to exit gracefully if necessary. It is important to note that while the specifics of the JOB 82 Revised provisions may vary depending on the project and parties involved, the purpose remains the same — to regulate operations and ensure cooperation among the stakeholders. Different types of Santa Clara California Provisions for JOB 82 Revised may exist based on the unique characteristics of each oil and gas project. These variations could arise due to factors such as the geographical location, the size of the project, the complexity of the operation, and the specific contractual agreements between the participating parties. Therefore, the provisions may be tailored to suit the specific needs and requirements of each individual project and vary in their details.Santa Clara California Provisions for JOB 82 Revised refer to the specific regulations and provisions outlined in the Joint Operating Agreement (JOB) for oil and gas exploration and production activities in Santa Clara, California. These provisions have undergone certain revisions to address any changes or updates in the operating practices and legal requirements in the area. The JOB 82 Revised provisions in Santa Clara, California are designed to create a framework for efficient and effective collaboration among the parties involved in oil and gas projects. The provisions cover various aspects, including but not limited to: 1. Asset Ownership: The revised JOB provisions establish the ownership rights and interests of the participating parties involved in the oil and gas operations. This ensures clarity and transparency in the allocation of ownership stakes, allowing for smooth decision-making processes. 2. Management of Operations: The provisions outline the roles, responsibilities, and decision-making capabilities of each party involved in the JOB. This includes the operator who oversees day-to-day operations, as well as the non-operators who have a stake in the project. 3. Cost Sharing and Accounting: The JOB 82 Revised provisions establish the mechanism for cost-sharing among the parties. It outlines the procedures for budgeting, accounting, and auditing to ensure fair distribution of costs and revenues associated with the project. 4. Confidentiality and Intellectual Property Rights: These provisions address the protection of confidential information and intellectual property rights of the participating parties. This ensures that proprietary information, data, and technology are safeguarded throughout the project. 5. Duration and Termination: The Santa Clara California Provisions for JOB 82 Revised also specify the duration of the agreement and the conditions under which it can be terminated. This provides a clear understanding of the project's timeline and enables parties to exit gracefully if necessary. It is important to note that while the specifics of the JOB 82 Revised provisions may vary depending on the project and parties involved, the purpose remains the same — to regulate operations and ensure cooperation among the stakeholders. Different types of Santa Clara California Provisions for JOB 82 Revised may exist based on the unique characteristics of each oil and gas project. These variations could arise due to factors such as the geographical location, the size of the project, the complexity of the operation, and the specific contractual agreements between the participating parties. Therefore, the provisions may be tailored to suit the specific needs and requirements of each individual project and vary in their details.
