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 lands identified in Exhibit A to the Agreement. The Parties have reached an agreement to explore and develop the Leases and/or Oil and Gas Interests for the production of Oil and Gas to the extent and as provided for in this Agreement.
Arizona Joint Operating Agreement 89-03 Revised
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Multi-State
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US-OG-759
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Word;
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FAQ
The JOA serves several purposes, including identifying the property interests of the parties in the mineral lease, designating the party that is to act as operator, and setting forth the method for sharing expenses and for the allocation of liability for the oil and gas exploration and production operations.
Arizona requires the following: Publication requirement. Arizona requires LLCs to publish notice of the incorporation within 60 days of incorporation in a publication (i.e. newspaper) in the known place of business for three consecutive publications.
Starting an LLC in Arizona will include the following steps: #1: Choose and Register an LLC Name for Your Arizona Business. #2: Designate an Agent for Service of Legal Documents. #3: File Articles of Organization and Publish. #4: Create an Operating Agreement. #5: Obtain an Employer Identification Number (EIN)
A JOA is a way for co-venturers to apportion liability in ance with their agreed participating interest. Under a JOA, the parties: Appoint an operator to manage operations and dealings with the host state and other third parties on behalf of the consortium.
On September 1, 2020, the Arizona Limited Liability Company Act, which became law in 2018, repealed Arizona's LLC statutes and replaced them with a new and "improved" model that is more consistent with the laws of most other states - but also poses risks for unwary LLC managers and members.
Yes. The same person can be both the only member and the only manager. What if my LLC has a "managing member"? The records of the Arizona Corporation Commission will reflect only members or managers ? no ?managing member? can be listed.
As per Section 29-3105 of the Arizona LLC Act, an Operating Agreement isn't required for an LLC in Arizona.
A Joint Venture (JV) is the name given to a business formed by different companies that come together for a particular business. These parties enter into a Joint Operating Agreement (JOA) that binds them together. A JV is established for a specific purpose.