This operating agreement is used when the parties to the Agreement are owners of oil and gas leases and/or oil and gas interests in the land identified in Exhibit A to the agreement, and have reached an agreement to explore and develop these leases and/or oil and gas interests for the production of oil and gas to the extent and as provided for in this Agreement.
Harris Texas Joint Operating Agreement 82 Revised, also known as Harris TX JOB 82 Revised, is a legal contract used in the oil and gas industry. It is specifically designed for operations in Harris County, Texas, and is governed by the laws and regulations of the state. The Harris Texas Joint Operating Agreement 82 Revised outlines the rights, responsibilities, and obligations of the parties involved in joint oil and gas operations within the county. It serves as a comprehensive framework governing the exploration, drilling, production, and development activities on a specific oil and gas property. The agreement typically involves multiple parties, including operators and non-operators, that come together to collaborate on a joint venture. The operators are responsible for executing the day-to-day operations, managing the workforce, and overseeing process efficiency. Non-operators, on the other hand, contribute financially to the venture in exchange for a share of the revenues generated. The Harris TX JOB 82 Revised includes essential provisions such as: 1. Scope of the agreement: This section defines the specific lands or properties covered by the agreement and the type of operations that will be conducted. 2. Obligations and responsibilities: It outlines the responsibilities of each party, including drilling operations, production, and marketing of oil and gas, environmental compliance, and safety measures. 3. Cost and expense sharing: The agreement establishes how costs will be shared between the participating parties. This includes expenses related to exploration, drilling, equipment, personnel, and other operational costs. 4. Decision-making process: The JOB 82 Revised establishes the decision-making framework for important activities, such as determining the location and depths of drilling operations, selecting vendors, or making financial commitments. 5. Production allocation and royalties: It defines how the production from the joint venture will be allocated amongst the participating parties and the corresponding royalty payments. Harris Texas Joint Operating Agreement 82 Revised caters to the specific needs and regulations of oil and gas operations in Harris County, Texas. While the name "82 Revised" suggests that there might be different versions of the agreement, it is important to consult legal resources or industry professionals to determine any specific subtypes or versions associated with the Harris TX JOB 82 Revised.Harris Texas Joint Operating Agreement 82 Revised, also known as Harris TX JOB 82 Revised, is a legal contract used in the oil and gas industry. It is specifically designed for operations in Harris County, Texas, and is governed by the laws and regulations of the state. The Harris Texas Joint Operating Agreement 82 Revised outlines the rights, responsibilities, and obligations of the parties involved in joint oil and gas operations within the county. It serves as a comprehensive framework governing the exploration, drilling, production, and development activities on a specific oil and gas property. The agreement typically involves multiple parties, including operators and non-operators, that come together to collaborate on a joint venture. The operators are responsible for executing the day-to-day operations, managing the workforce, and overseeing process efficiency. Non-operators, on the other hand, contribute financially to the venture in exchange for a share of the revenues generated. The Harris TX JOB 82 Revised includes essential provisions such as: 1. Scope of the agreement: This section defines the specific lands or properties covered by the agreement and the type of operations that will be conducted. 2. Obligations and responsibilities: It outlines the responsibilities of each party, including drilling operations, production, and marketing of oil and gas, environmental compliance, and safety measures. 3. Cost and expense sharing: The agreement establishes how costs will be shared between the participating parties. This includes expenses related to exploration, drilling, equipment, personnel, and other operational costs. 4. Decision-making process: The JOB 82 Revised establishes the decision-making framework for important activities, such as determining the location and depths of drilling operations, selecting vendors, or making financial commitments. 5. Production allocation and royalties: It defines how the production from the joint venture will be allocated amongst the participating parties and the corresponding royalty payments. Harris Texas Joint Operating Agreement 82 Revised caters to the specific needs and regulations of oil and gas operations in Harris County, Texas. While the name "82 Revised" suggests that there might be different versions of the agreement, it is important to consult legal resources or industry professionals to determine any specific subtypes or versions associated with the Harris TX JOB 82 Revised.
