This is a Preferential Right to Purchase Production form. The assignor reserves the right at any time and from time to time to purchase or designate a purchaser for all of assignees oil and other liquid hydrocarbons produced and saved from the interests in the lands and leases that are the subject of this assignment.
Oregon Preferential Right to Purchase Production
Category:
State:
Multi-State
Control #:
US-OG-505
Format:
Word;
Rich Text
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FAQ
Applying a Reciprocal Preference The reciprocal preference results in a percent increase to an out-of-state supplier's response that is equal to the preference given to the supplier in the state in which the supplier resides.
A reciprocal preference, or simply reciprocity, defines a bidding situation in which a state gives a preference to its resident bidder against the bid of a non-resident bidder, equal to the preference given by the other state to its own resident bidders.
