Louisiana Waiver of Preferential Right to Purchase
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How to fill out Waiver Of Preferential Right To Purchase?
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FAQ
The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.
Area of Mutual Interest (AMI): a geographic area generally defined by a contract (e.g., Farmout, JOA, JDA or similar agreement) within which two or more persons hold an interest.
An AMI agreement binds the signatory parties to jointly explore for oil and gas in a defined geographic area for a specified period of time.
AMI contracts are common tools for sharing risks of development, along with the associated ownership and profits, among companies who want to jointly explore for oil and gas in a specific area.
