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.
Delaware Joint Operating Agreement 89-03 Revised
Category:
State:
Multi-State
Control #:
US-OG-759
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Joint Operating Agreement 89-03 Revised?
You may invest several hours on the Internet searching for the legal record design that meets the federal and state needs you require. US Legal Forms offers a huge number of legal varieties that happen to be reviewed by experts. You can actually down load or print out the Delaware Joint Operating Agreement 89-03 Revised from my services.
If you already possess a US Legal Forms account, you are able to log in and then click the Download switch. Next, you are able to total, edit, print out, or sign the Delaware Joint Operating Agreement 89-03 Revised. Each and every legal record design you acquire is your own eternally. To get another backup for any bought develop, go to the My Forms tab and then click the related switch.
If you work with the US Legal Forms site for the first time, follow the easy directions below:
- Very first, be sure that you have selected the proper record design for that county/town of your liking. Browse the develop description to ensure you have selected the appropriate develop. If readily available, use the Preview switch to appear with the record design as well.
- If you wish to locate another edition in the develop, use the Look for area to find the design that meets your needs and needs.
- Once you have found the design you want, click on Acquire now to continue.
- Find the costs prepare you want, type in your credentials, and sign up for an account on US Legal Forms.
- Full the transaction. You should use your credit card or PayPal account to purchase the legal develop.
- Find the file format in the record and down load it in your product.
- Make adjustments in your record if necessary. You may total, edit and sign and print out Delaware Joint Operating Agreement 89-03 Revised.
Download and print out a huge number of record themes making use of the US Legal Forms web site, that provides the biggest variety of legal varieties. Use specialist and condition-specific themes to deal with your company or personal requires.
Form popularity
FAQ
In the health care industry, hospitals may form a JOA to provide a stronger financial structure. The JOA, also known in this industry as a virtual merger, allows the hospitals to retain separate boards of directors but turns over management to a separate company.
A joint operating agreement is a legal document that outlines the relationship between two or more businesses who jointly operate a business. When one company partners with another, they are typically signing this type of contract to ensure their business interests are protected.
Joint Operating Agreements ("JOAs") are often used in capital-intensive resource industries by parties who wish to re- strict their exposure, particularly in limiting costs or liability.
Delaware does NOT require an operating agreement. However, it is highly recommended to have a LLC operating agreement even if you are only a single member LLC. The state of Delaware recognizes operating agreements and governing documents.
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.
The JOA is a contract where two or more parties agree to undertake a common task to explore and exploit an area for hydrocarbons. The parties to the agreement can be broadly classified as operators and non-operators. The operator is the one who is responsible for the day-to-day management and operation of the field.
Joint operating agreements are contractual agreements between one party identified as the operator and at least one other party known as a non-operator which requires the operator to drill the initial obligatory well, and the non-operator to pay its proportionate share of the operating expenses.
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.