This operating agreement is used when the parties to the 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 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.
Nebraska Joint Operating Agreement 82 Revised, also known as NOA 82 Revised, is a legal agreement that governs the operations and relationships between multiple parties involved in jointly-owned oil and gas leases in Nebraska. It sets forth the terms and conditions under which the parties will explore, develop, and produce oil and gas resources from a designated area. The NOA 82 Revised agreement is designed to promote cooperation, shared costs, and risk management among the participating parties. It outlines the roles and responsibilities of each party, including the operator who takes charge of the day-to-day operations and the non-operators who may have a working interest in the lease but are not directly involved in the operations. This Nebraska joint operating agreement provides a framework for the exploration, drilling, completion, and production activities. It addresses different aspects such as acquisition of permits, conducting surveys, drilling procedures, pooling of interests, sharing of costs and profits, liability, insurance, abandonment procedures, and dispute resolution mechanisms. NOA 82 Revised includes specific provisions related to accounting for costs and revenues, ensuring fair allocation of expenses, and establishing the rights and obligations of each party. The agreement ensures that all parties comply with federal and state laws, regulations, and environmental standards. It is important to note that there may be different types or versions of Nebraska Joint Operating Agreement 82 Revised, stemming from specific revisions or amendments made over time to accommodate changing industry practices and legal requirements. These revisions are typically numbered sequentially to differentiate between the versions, ensuring clarity and consistency in the agreement's application. In summary, the Nebraska Joint Operating Agreement 82 Revised is a comprehensive legal document that establishes the framework for cooperation and shared responsibilities among parties involved in jointly-owned oil and gas leases in Nebraska. Its aim is to facilitate efficient and responsible exploration and production activities, while protecting the rights and interests of all parties involved.
