This form provides for the reassignment of interests in the event a well is required to be drilled, deepened, reworked, plugged back, sidetracked, or recompleted, or any other operation that may be required in order to (1) continue a Lease or Leases in force and effect, or (2) maintain a unitized area or any portion of it in and to any Oil and/or Gas and other interest which may be owned by a third party or which, failing in the operation, may revert to a third party, or (3) comply with an order issued by a regulatory body
Michigan Provisions for JOB 82 Revised refer to the specific guidelines and regulations set by the state of Michigan for Joint Operating Agreements (JOB). These provisions outline the terms and conditions that govern the joint exploration and development of oil and gas properties within the state. Keywords: Michigan, Provisions, JOB 82 Revised, Joint Operating Agreements, guidelines, regulations, joint exploration, development, oil and gas properties. The Michigan Provisions for JOB 82 Revised can be categorized into several types: 1. Operational Provisions: — These provisions define the responsibilities and obligations of the parties involved in the JOB. They outline the operational requirements, including the drilling and completion operations, production operations, well maintenance, and abandonment procedures. — Keywords: operational requirements, drilling, completion operations, production operations, well maintenance, abandonment procedures. 2. Financial Provisions: — These provisions address the financial aspects of the JOB, including the cost-sharing arrangements, the allocation of expenses, and the reimbursement procedures. — Keywords: cost-sharing, expenses allocation, reimbursement procedures, financial aspects. 3. Decision-making Provisions: — This category of provisions establishes the decision-making processes within the JOB, including voting procedures, rights, and responsibilities of the parties, and dispute resolution mechanisms. — Keywords: decision-making processes, voting procedures, rights and responsibilities, dispute resolution. 4. Environmental and Regulatory Provisions: — These provisions serve to ensure compliance with environmental regulations and requirements imposed by regulatory authorities. They cover topics such as environmental impact assessments, permits, licenses, and the management of any related liabilities. — Keywords: environmental regulations, environmental impact assessments, permits, licenses, liability management. 5. Termination and Default Provisions: — This set of provisions deals with the circumstances and consequences of the termination or default of the JOB by any of the parties involved. It outlines the procedures, rights, and liabilities in such cases. — Keywords: termination, default, procedures, rights, liabilities. It is important for all parties involved in a JOB in Michigan to familiarize themselves with these provisions to ensure compliance and successful collaboration in the exploration and development of oil and gas properties.
