This operating agreement is used when the parties to this 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 the parties 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.
Alabama Joint Operating Agreement 89 Revised (AKA 89 Revised) is a legal document that outlines the guidelines and provisions for joint operations in the oil and gas industry in Alabama. The agreement is specifically designed to regulate the partnership between multiple parties involved in the exploration, development, and production of hydrocarbon resources. Keywords: Alabama Joint Operating Agreement 89 Revised, AKA 89 Revised, joint operations, oil and gas industry, guidelines, provisions, partnership, exploration, development, production, hydrocarbon resources. There are a few different types of Alabama Joint Operating Agreement 89 Revised, each tailored to specific scenarios and the needs of the parties involved. These variations include: 1. Exploration and Production Agreement: This type of AKA 89 Revised specifically focuses on regulating joint operations related to the exploration and production of oil and gas resources. It emphasizes the guidelines and provisions related to surveying, drilling, extracting, and marketing hydrocarbon reserves. 2. Development Agreement: The Development Agreement under AKA 89 Revised is primarily concerned with joint operations pertaining to the development and enhancement of oil and gas fields. It covers the necessary arrangements and procedures for constructing infrastructure, installing pipelines, and implementing production techniques. 3. Unitization Agreement: Unitization Agreements are designed to address situations where multiple operators own separate acreages within a common hydrocarbon reservoir. This type of AKA 89 Revised coordinates the management and operations of these jointly held hydrocarbon reservoirs, ensuring efficient resource recovery while avoiding duplication and potential conflicts. 4. Farm out Agreement: Farm out Agreements under AKA 89 Revised enable an operating party (the armor) to transfer a portion of its working interest to another party (the farmer) for the purpose of drilling or exploring a specific well or project. This arrangement allows for risk-sharing while promoting exploration and production activities. 5. Production Sharing Agreement: AKA 89 Revised also encompasses Production Sharing Agreements that dictate the distribution of hydrocarbon resources and revenues between the government and participating companies. This type of agreement is commonly used in joint operations established between the state and private entities. It is important to note that the specific terms, conditions, and contractual arrangements within these different types of Alabama Joint Operating Agreement 89 Revised may vary depending on the parties involved, project characteristics, and prevailing regulations.
