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.
Pennsylvania Joint Operating Agreement 82 Revised is a legal document that governs the relationship between multiple parties involved in oil and gas exploration and production in the state of Pennsylvania. It outlines the terms and conditions under which the parties will jointly develop and operate oil and gas properties. The agreement is specifically designed for Pennsylvania and addresses the unique legal and regulatory aspects of the state's oil and gas industry. It provides a framework for cooperation, cost-sharing, and decision-making among the parties to efficiently and effectively exploit oil and gas reserves. The Pennsylvania Joint Operating Agreement 82 Revised is frequently used by companies operating in the Marcellus Shale region, which is one of the largest natural gas fields in the United States. The Marcellus Shale formation spans several states, including Pennsylvania, and contains vast amounts of natural resources. One of the key components of the Pennsylvania Joint Operating Agreement 82 Revised is the allocation of expenses and revenues among the parties. It establishes how costs related to exploration, drilling, well maintenance, and production will be shared. This ensures that each party has a fair and equitable share of the costs and benefits associated with the joint operations. The agreement also outlines the decision-making process among the parties. It sets forth rules for voting on various matters, such as the appointment of an operator, the approval of exploration plans, or the sale of assets. These provisions help maintain transparency and accountability among the parties involved. Moreover, the Pennsylvania Joint Operating Agreement 82 Revised addresses environmental and regulatory compliance. It stipulates the responsibilities of the parties in adhering to applicable laws, regulations, and permits. This ensures that all operations are conducted in a manner that minimizes environmental impact and maintains compliance with the Pennsylvania Department of Environmental Protection (DEP) standards. Although Pennsylvania Joint Operating Agreement 82 Revised is a standard agreement, there may be variations or modifications based on specific project requirements, geographical location, or individual parties' preferences. However, these variations typically remain within the framework of the original agreement and are tailored to suit unique circumstances. In conclusion, the Pennsylvania Joint Operating Agreement 82 Revised is a comprehensive contract that governs oil and gas operations in Pennsylvania. It establishes the rights, responsibilities, and obligations of the parties involved and ensures efficient, fair, and compliant development of oil and gas resources.
