This operating agreement exhibit provides that each party has the right to take in kind its share of gas produced from the Contract Area and market or otherwise dispose of its gas. In the event any party is not, at any time, taking or marketing its share of gas, or has contracted to sell its share of gas produced from the Contract Area to a purchaser which does not, at any time, take the full share of gas attributable to the interest of the party, then the terms of this agreement shall automatically become operative.
Bronx New York Exhibit E to Operating Agreement Gas Balancing Agreement - Form 2
Category:
State:
Multi-State
County:
Bronx
Control #:
US-OG-746
Format:
Word;
Rich Text
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FAQ
The Joint Operating Agreements (JOA) is a contractual agreement between two or more parties with shared interests in a tract or leasehold that outlines coordinated exploration, development and production activities in a designated contract area.
Production Sharing Contract (PSC) is a contractual arrangement for exploration and production of petroleum resources where the contractor undertakes all the financial, technical and operational risks associated with petroleum operation in return for a share of profit oil after payment of royalty, cost and tax oil.
The purpose of a joint operating agreement (JOA) is to protect a business from failure, yet prevent monopolization within an industry by allowing each party to retain some form of separate operation. JOAs are used in the newspaper, health care, gas and oil, and other industries.
The Joint Operating Agreement (JOA) in oil and gas industry is an underlying contractual framework of a Joint Venture (JV). The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons.
Abstract. Production sharing contract (PSC) is an arrangement used in the upstream sector for the exploration and. development of petroleum resources. Several oil producing countries, particularly the developing ones have. adopted it as a contract for the exploration and development of their oil and gas resources.
A system of sharing the resources and profits related to the production of a particular commodity, especially oil (frequently attributive).
An Operational Balancing Agreement ("OBA") is a contract between two parties which specifies the procedures to manage operating variances at an interconnection between pipelines.
1. Production sharing agreement (PSA) is a contract between one or more investors and the government in which rights to prospection, exploration and extraction of mineral resources from a specific area over a specified period of time are determined.
An agreement between the lessee and lessor as to how production will be shared among leases crossed by a production sharing well. Most (but not all) production sharing agreements provide for allocation based on the percentage of the productive lateral crossing each lease.
This Joint Operating Procedure (JOP) prescribes policies, assigns responsibilities, and mandates procedures necessary for management and standardization of Mobile Electric Power Generating Sources (MEPGS) (and systems) utilized by all the Military Services and the Defense Logistics Agency (DLA) worldwide.