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.
Maine Joint Operating Agreement 89 Revised
Category:
State:
Multi-State
Control #:
US-OG-758
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Joint Operating Agreement 89 Revised?
You are able to devote hours online searching for the authorized file web template that meets the federal and state needs you will need. US Legal Forms gives thousands of authorized types which can be analyzed by pros. You can actually download or produce the Maine Joint Operating Agreement 89 Revised from our assistance.
If you already possess a US Legal Forms account, you can log in and click on the Acquire key. Afterward, you can comprehensive, modify, produce, or signal the Maine Joint Operating Agreement 89 Revised. Every single authorized file web template you buy is yours forever. To acquire one more duplicate of the purchased form, go to the My Forms tab and click on the related key.
Should you use the US Legal Forms website the first time, stick to the straightforward recommendations beneath:
- Very first, make sure that you have chosen the best file web template for that state/area of your choice. Look at the form explanation to make sure you have picked the correct form. If offered, utilize the Review key to appear through the file web template at the same time.
- In order to find one more variation in the form, utilize the Look for field to get the web template that meets your needs and needs.
- After you have found the web template you want, click on Purchase now to continue.
- Find the prices prepare you want, key in your credentials, and sign up for a free account on US Legal Forms.
- Complete the transaction. You may use your Visa or Mastercard or PayPal account to pay for the authorized form.
- Find the format in the file and download it for your system.
- Make alterations for your file if required. You are able to comprehensive, modify and signal and produce Maine Joint Operating Agreement 89 Revised.
Acquire and produce thousands of file templates making use of the US Legal Forms website, which provides the largest selection of authorized types. Use skilled and condition-distinct templates to deal with your company or personal demands.
Form popularity
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.
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.
An operating agreement (bylaws) is an internal document that defines how the business owners professionally relate to one another. The articles of incorporation (certificate of formation) is a public document that legally establishes a business as a corporation.
Yes. Unlike most states?in which an operating agreement is encouraged but not required?Maine's statutes clearly state that ?a limited liability company agreement must be entered into or otherwise existing? before an LLC can be formed. (A ?company agreement? is the same thing as an operating agreement.)
The operator is the one who is responsible for the day-to-day management and operation of the field. It is usually a single party with the highest interest in the agreement. But it is not uncommon to have a designated operator who is a minority to the agreement.
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.
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.
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.