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.
The Tennessee Joint Operating Agreement 82 Revised is a legally binding document that outlines the terms and conditions for joint cooperation among multiple entities in the operations of oil and gas wells in the state of Tennessee. This agreement is crucial in facilitating efficient and productive oil and gas exploration, development, and production activities. The Tennessee Joint Operating Agreement 82 Revised includes various key provisions that dictate the responsibilities, rights, and obligations of the parties involved. These provisions cover a broad range of aspects related to the joint operations, such as drilling operations, cost-sharing, revenue sharing, accounting procedures, and dispute resolution mechanisms. One notable feature of the Tennessee Joint Operating Agreement 82 Revised is its flexibility, allowing for customization to suit the specific needs and circumstances of the parties involved. This ensures that the agreement can be tailored to accommodate different types of joint operations and varying geological conditions in different regions of the state. While the Tennessee Joint Operating Agreement 82 Revised serves as a comprehensive framework for collaboration in the oil and gas industry, it does not have strict categorizations or specific subtypes. However, there may be differentiation based on the scale of joint operations, the nature of the project (e.g., exploration, development, or production), or the parties involved (e.g., operators, non-operators, working interest owners, or leaseholders). In summary, the Tennessee Joint Operating Agreement 82 Revised is an essential legal agreement designed to promote effective cooperation and maximize the potential benefits in the exploration and production of oil and gas resources in Tennessee. Its adaptability and comprehensive provisions make it a versatile framework for joint operations, ensuring smooth operations and minimizing potential conflicts among the parties involved.
