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North Dakota Joint Operating Agreement 89-03 Revised

Category:
Oil Gas and Minerals - Agreements
State:
Multi-State
Control #:
US-OG-759
Format:
Word; 
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Description

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.

North Dakota Joint Operating Agreement 89-03 Revised is a legally binding document that governs the cooperation and collaboration between multiple parties in the oil and gas industry in North Dakota. This agreement sets out the terms and conditions under which the participants can jointly develop, explore, and produce hydrocarbon resources within a specific geographic area. The agreement provides a comprehensive framework for managing the operations, costs, rights, and responsibilities of all parties involved. It outlines the rights and obligations of the working interest owners, defines the roles of the operator, and establishes clear procedures for decision-making, expense sharing, and dispute resolution. There are different types of North Dakota Joint Operating Agreement 89-03 Revised, including: 1. Standard Agreement: This is the most common type of joint operating agreement used in North Dakota's oil and gas industry. It follows the industry-accepted practices and provisions to ensure efficient and effective operations. 2. Modified Agreement: Some parties may choose to customize certain clauses of the standard agreement to suit their specific needs and circumstances. This allows for flexibility in addressing unique operational or financial requirements. 3. Area-Specific Agreement: In certain cases, joint operating agreements may be tailored to cover a specific geographic area or field. This ensures that the agreement's provisions align with the specific characteristics and challenges associated with that particular location. Keywords: North Dakota, Joint Operating Agreement 89-03 Revised, cooperation, collaboration, oil and gas industry, hydrocarbon resources, operations, costs, rights, responsibilities, working interest owners, operator, decision-making, expense sharing, dispute resolution, standard agreement, modified agreement, area-specific agreement.

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FAQ

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.

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.

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.

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.

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.

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3. The JOA 89-03 Revised Agreement. This form includes the revisions and additions contained in the JOA '89 Revised Agreement form, and includes several ... by A Ritchie · 2018 · Cited by 1 — These papers emphasize the functional aspects of the JOA [that] commit the parties to participate in and share expenses for, and production from, joint ...THIS AGREEMENT, entered into by and between Haas Petroleum, LLC, hereinafter designated and referred to as “Operator,” and the signatory party or parties other ... This chapter contains general rules of statewide application which have been adopted by the industrial commission to conserve the natural resources of North ... Notification of an application for change in purpose of use or to add a point of diversion must be handled in accordance with section 89-03-01-04. N.D. Admin ... This collection of forms is divided into 7 topical sections, with 78 forms. The standard operating agreement forms have eliminated all the legalese to make ... timely submit a complete and accurate water use report under North Dakota Century Code ... The operating plan must be approved by the state engineerdirector ... by AG Himebaugh · 1983 · Cited by 13 — The issues the farmout agreement should address regarding subsequent joint operations include the effective date of the operating agreement and the lands ... Apr 6, 2015 — One of the first steps to understanding the JOA is to understand the anatomy of its several components. The AAPL Joint Operating Agreement is ... Read Section 89-03-02-06 - Publication of notice of an application for a change in the purpose of use or to add a point of diversion, N.D. Admin.

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