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aapl form 610 model form operating agreement 1982

Agreement: An Update for the 2015 Form JOA published as part of the Joint Operations and the New AAPL Form 610-2015 Model Form Operating Agreement, jointly sponsored by RMMLF, AAPL and COPAS, November 3-4, 2016. A copy will be provided to the Securities and Exchange Commission upon request. 2: Coso incurred by Operator in procuring abstracts and (ees paid outside attorneys for brie examination 2 (including preliminary, supplemental, shut-in gas royalty opinions and division order title opinions! It was not until 1977 that the form was significantly revised. 1.13         "Royalty" shall mean payments on production to all owners of royalties, overriding royalties, production payments and similar interests. 1. Assignment and Rights Upon Assignment. Notwithstanding anything to the contrary, in the event that any party hereto elects not to participate in the drilling of a Development Well, that party shall promptly relinquish and assign, upon such well reaching its Objective Depth and being either (i) plugged and abandoned as a dry hole or (ii) completed as a well capable of production, to the parties who drilled such Development Well, one hundred percent (100%) of its right title and interest in the 640 acre section in which the Development Well is located. Revised forms followed in 1977, 1982, and 1989. shall apply only to the drilling of new wells and shall not apply to the reworking, deepening, sidetracking or plugging back of existing wells. To fully understand the modern model of the oil and gas agreement, it helps to know a little about the history of the form, the common annexes, the things that should be paid attention to, as well as the standard practices used to work with it. Such interest shall be borne by the Operator or any Overproduced Party in the proportion that their respective delays beyond the deadlines set out in Sections 6.2 and 6.3. (iii)         each Party's Full Share of the Current Production. If all such Gas is not taken by the Underproduced Parties, the portion not taken shall then be made available to the other Parties in the proportion that their respective interests in the Well bear to the total interest of such Parties. The Operating Agreement, in Articles VII., provide for and Non-Operator does hereby grant to Operator, a lien upon Non-Operator's oil and gas rights in the Contract Area and a security interest in its share of oil and gas when extracted and its interest in all equipment, fixtures, personal property, accounts, inventory and general intangibles and proceeds or product thereof, not owned or hereafter acquired in connection with operations on said property, to secure payment of its share of expenses, together with any interest thereon as set out in said Operating Agreement. In the absence of an updated joint enterprise agreement containing definitions and clarifications, landowners, operators and landowners could create unequal competitive conditions that do not take into account current practices. A.A.P.L. In no event will an Overproduced Party be required to provide more than fifty percent (50%) of its Full Share of Current Production for Makeup Gas. THERE IS NO EXHIBIT "F" TO THIS AGREEMENT, THERE IS NO EXHIBIT "G" TO THIS AGREEMENT, Attached to and made a part of that certain Operating Agreement dated September 1, 2005 by and between ENCANA OIL & GAS (USA) INC., as Operator, and THE EXPLORATION COMPANY, as Non-Operators covering the Northern Lands, STATE OF TEXAS                                        §. to the extent of the costs unpaid by such party, notwithstanding any election to participate theretofore made. Said Trustee shall have the authority to appoint an attorney-in-fact to act as Trustee in conducting the foreclosure sale and execute a Deed to the purchaser or purchasers; and it is further agreed that said Trustee or his successor may sell said property together or in lots and/or parcels as he may deem expedient, and after such sales as aforesaid are made, the Trustee shall execute and deliver to the purchaser or purchasers thereof good and sufficient Deeds, Assignments and other lawful conveyances, with covenants of general warranty, binding the defaulting Participating Party to vest in said purchaser    or purchasers title of such Participating Party in the Contract Area, in fee simple, together with all personal property used or obtained in connection therewith, and together with all of the proceeds of production attributable thereto, including proceeds of production held by any party for payment to such Participating Party. List Of Active All Small Mentor-Protege Agreements. 6.3         Within thirty (30) days after receipt of Operator's final Gas settlement statement, each Overproduced Party will send its cash settlement, accompanied by appropriate accounting detail, to the Operator. 7)            Proposal to plug and abandon the well. The forms have, generally, been effective in establishing procedures and obligations which have resulted in the drilling of tens of thousands of wells with minimal litigation. Address:                                                 ENCANA OIL & GAS (USA) INC. (214) 242-7205 (fax)                                        By:_______________________________, Address:                                                 THE EXPLORATION COMPANY, (210) 496-5300 (fax)                                        By:______________________________. For example, in my home jurisdiction, Arkansas, the newer 1989 Form is actually a rarity. A Development Block shall include a nine (9) mile square area (5,760 acres) centered on the Exploratory Well. As we discussed in the last article pertaining to Oil and Gas Joint Operating Agreements, the JOA is one of the most commonly used instruments in the oil and gas industry today. In the event of conflict between the provisions of this Article XV. delay rentals, lease extension payments, minimum royalty payments and shut-in well payments. B. T.            In the event any lease and the interest covered thereby becomes owned by only one of the parties to this agreement under the terms hereof, any such lease and such interest covered thereby shall thereafter be excluded from the terms of this Agreement. Any interest relinquished pursuant to this Article XV.N.3. All balancing hereunder shall be on a Well by Well basis determined on volumes of Gas produced from such Well measured in MMBtus. Just pay attention to the JOAs, which are worked in a way that is not easily visible. If the owner of the interest from which a subsequently created interest (as defined in Article III.D.) 6.5         The price of Gas for cash settlement by an Overproduced Party shall be the price actually or constructively received under an Arm's Length Agreement for the Overproduction, after deducting any amounts previously paid for applicable taxes and Royalty. A. of this Operating agreement. 610 - 1982 REVISED, Model Form Operating Agreement:         A.A.P.L. General Comprehensive Public Liability Insurance covering the parties hereto in connection with all operations conducted by contractors and subcontractors with minimum general aggregate limit for bodily injury; and property damage of not less than $1,000,000.00, for each occurrence. Interests of Parties in Costs and Production: Unless changed by other provisions, all costs and liabilities incurred in operations under this agreement shall be borne and paid, and all equipment and materials acquired in operations on the Contract Area shall be owned, by the parties as their interests are set forth in Exhibit “A.” The AAPL 610 model agreement is by far the most common enterprise agreement commonly used in the oil and gas industry, so any other proposed joint enterprise agreement should, in my view, be immediately suspect. If Non-Operator has no plans to satisfy the drill or rework obligation on its Shallow Rights, then either party may propose a well on the Contract Area in accordance with the terms of this Northern Lands JOA. (Option No.2) or XV.C. form for onshorc operations, AAPL Form 610, last revised in 1989, will be used as the contract of reference. Such audit shall be conducted only after reasonable notice and during normal business hours in the office of the Party whose records are being audited. If a party to the agreement does not respond within 72 hours after the information is received, the issuing party may disburse information to the press of other media at its own discretion. "Category" as used above shall mean a separate category of Gas established by law, regulation or government order for the purpose of regulating or deregulating the maximum lawful price of Gas, including but not limited to those pricing categories established by the Natural Gas Policy Act of 1978 and regulations or orders of the Federal Energy Regulatory Commission. Revised forms followed in 1977, 1982, and 1989. Notwithstanding any provision in this Agreement or any other agreement between the Parties hereto to the contrary, and further notwithstanding any termination or cancellation of this Agreement or such other agreement, for a period of two (2) years after the date that Gas accounts are settled, any Party shall have the right to audit (i) the records of any Overproduced Party as to all matters concerning volumes, Btu content, adjustments and prices (except in the case of volumetric settlement) and disposition of Gas taken from a Well, and (ii) the records of any Underproduced Party as to all matters concerning volumes. Not later than October 15, 2007 or within fifteen (15) days of the completion of the fifteenth (15th) Exploratory Well drilled under the terms of this Agreement, whichever is the earlier date. Operator is authorized to deliver the volumes so nominated to the transporting pipeline in accordance with the terms of this Agreement. "Gas" does not include gas used for operations or which is vented, flared or lost prior to its sale or delivery from a Well. The Parties will meet to conduct a partition pf the Contract Area as follows: 1. If the Consenting Parties have recouped 100% of the cost of such salvable materials and equipment at the time such completion attempt is conducted, then a Non-Consenting Party may participate in the completion attempt with no payment for costs incurred prior to the completion attempt. However, if approval of this operation and subsequent expenditure is not obtained from all parties and the parties owning at least fifty-one percent (51%) in interest in the Contract Area have approved of such operation and expenditure, and the expenditure is less than Fifty Thousand and No/100 Dollars ($50,000.00), the parties who have failed to respond to such proposal or who have responded in the negative shall nevertheless be bound thereby and obligated to pay their proportionate part of such proposed operation as if they had consented to such operation pursuant to the terms hereof. 6.2         Within thirty (30) days after receipt of the notice calling for cash settlement under Section 6.1 above, the Operator will distribute to each Party a final Gas settlement statement detailing the quantity of Overproduction owed by each Overproduced Party to all Underproduced Parties identifying the month(s) to which such Overproduction is attributed. Any party electing not to bear its proportionate share of any payment shall advise Operator of its election no later than 60 days prior to the date on which a payment is due. The defaulting Participating Party agrees, upon request by Operator, to execute and deliver in recordable form such assignments, bills of sale, releases or other documents necessary to evidence such foreclosure. All parties who shall have agreed to participate in such payments shall reimburse Operator for their proportionate shares thereof. The inherent inefficiency of reinventing the wheel for every drilling venture led to the development of the first American Association of Professional Landmen (AAPL) Form 610 Model Form Operating Agreement in 1956 (AAPL Form 610-1956). In order to be entitled to the provisions of this Article XV.L., each Exploratory Well drilling proposal must include a plat on which the Development Block is identified. It also seems a bit dodgy not to make your touch-ups easily visible, and you don`t want to look shady. The following definitions shall apply to this Agreement: 1.1         "Arm's Length Agreement" shall mean any gas sales agreement with an unaffiliated purchaser or any gas sales agreement with an affiliated purchaser where the sales price under such agreement is representative of prices available under other similar agreements in the area at the same time for natural gas of comparable quality and quantity. If no Party sold Gas under Arm's Length Agreements when the Overproduction occurred, then the price shall be the last price received by a Party making sales under an Arm's Length Agreement. Executed this ____ day of _______________________, 2005, but effective as of the day set out above. A Well will be considered a separate Well with respect to, but only to, each reservoir from which the Gas production is not commingled in the wellbore. It is further agreed that said Trustee or any holder or holders of said obligation or Operator shall have the right to become the purchaser or purchasers at such sale if they are the highest bidder or bidders, in which    event the bid or bids of the purchaser or purchasers, less allowable costs and expenses described above, may be credited upon said indebtedness of said Participating Party. shall not cause the forfeiture of any party's interest in any Development Block which have been previously created. 1.6         "Makeup Gas" shall mean any Gas taken by an Underproduced Party from a Well in excess of its Full Share of Current Production, whether pursuant to Section 2.3 or Section 3.1 hereof. If election is made to proceed under this provision, then the non-defaulting party may not elect to sue for the unpaid amount pursuant to this Article XV.N.2. If a portion of an Overproduced Party's Gas production is taken for its own use, the price for such Gas will be the price it received for any Gas takes during such periods by such Party pursuant to an Arm's Length Agreement. Operator and Non-Operator will alternate selection of one (1) square mile sections (other than sections on which producing wells are located) until all eight (8) non-producing sections are chosen, with the operator of the well selecting first. The provisions of this Article XV.K. The rights of a defaulting party that may be suspended hereunder at the election of the non-defaulting parties shall include, without limitations, the right to receive information as to any operation conducted hereunder during the period of such default, and the right to elect to participate in an operation proposed under Article VI.B.1. Pursuant to its recommendation and/or upon being advised to do so by any party, Operator shall make the appropriate payment and those who elected not to participate therein shall promptly make assignment of their interest to the parties who participated in such payment. 3. A summary of changes to the form, as well as the exhibits referenced in the form are attached. The AAPL Model Form JOA - Taking Production in Kind Provisions There have been four versions of the Model Form JOA: 1956, 1972, 1982 and 1989. It was found that a standardized form was necessary and that the 1956 modelling agreement was born. For purposes of foreclosing such lien and conducting such non-judicial sale pursuant to the Operating Agreement, Non-Operator appointed and does hereby appoint Robert E. Lee, Jr., whose address is 500 North Loop 1604 East, Suite 250, San Antonio, Texas  78232, as Trustee. 4. 5)            Proposals to sidetrack the well. and subject to the expenditure limitations set forth in Article VII.D.3., Operator may in accordance with the notice requirement of Article VI.B. 1.11         "Party" and "Parties" shall mean those individuals or entities signatory to the Joint Operating Agreement to which this Agreement (Exhibit "E") is attached, and their respective heirs, successors, transferees and assigns. Election by a previous Non-Consenting Party to participate in a subsequent completion attempt shall require such Party to pay (or reimburse Consenting Parties for, as the case may be) its proportionate share of the costs of salvable materials and equipment installed in the well and on the surface in connection with the operation in which it non-consented insofar as such materials and equipment benefit the completion attempt in which such Party is participating. The parties to joint transactions had to enter into their own agreements to regulate the way an oil property was managed, which must have caused confusion and, in many cases, legal action. 14. Each Non-Operator further agrees to reimburse Operator for any amounts applicable to such Non-Operator's share of production that Operator may be required to refund, rebate or pay as a result of such incorrect interpretation or application, together with interest and penalties thereon owing by Operator as a result of such incorrect interpretation or application. The name of the Assignee to be billed and a written statement signed by the Assignee to be billed in which it consents to receive statements and billings for the interest credited to Assignee; and, further consents to handle any necessary sub-billings in the event it does not    own the entire interest conveyed by Selling Party. FORT WORTH, TEXAS, 76137-2791, To fully understand the modern model of the oil and gas agreement, it helps to know a little about the history of the form, the common annexes, the things that should be … The Operating Agreement provides for and each Non-Operator does hereby grant to Operator the right to proceed to foreclose the lien of Operator as against the interest of any Non-Operator by a non-judicial sale under the laws of the State of Texas. Drilling Well Rate:         $5,000/month                    0'- 6,000', $7,000/month                    6,001' - 10,000', $8,000/month                    greater than 10,001', Producing Well Rate:         $500/month                    0' - 6,000', $700/month                    6,001' - 10,000', $800/month                    greater than 10,001'. Operator shall prepare and furnish to any duly constituted authority having jurisdiction in the premises through its proper agency or department any and all reports, statements and information that may be requested when such reports are required to be filed by Operator. We will deal more with the specific provisions of the JOA in future contributions. From the proceeds    of said sale, said Trustee shall first pay all charges, costs and expenses in executing these provisions, and secondly pay all sums due by the Trustee for taxes in the preservation of the security, and thereafter, shall pay all of the remaining sums to the Operator for the satisfaction of the debts of such Participating Party hereunder, and the balance, if any, shall be paid to such Participating Party. Model Form Operating Agreement to the 1982 ModelForm, proceedings at the 4th Annual Oil & Gas Institute, South Texas College of Law, Aug. 9, 1990. III. The provisions of this Article XV.J. FORM 610 - 1989 - MODEL FORM OPERATING AGREEMENT. FORM 610-1982, Date of Agreement:         September 1, 2005, Operator:                    EnCana Oil & Gas (USA) Inc.         Interest:         50%, Non-Operator:                    The Exploration Company                    Interest:         50%, Contract Area:                    "Northern Lands", County, State:                    Maverick and Kinney, Texas. This should set you up and be ready to start working with the AAPL Form 610 Model Form Operating Agreement. The Operator shall not be liable to any Underproduced Party for the failure of any Overproduced Party to pay any amounts owed pursuant to the terms hereof. In the event Participating Party has mortgaged its interest in any of the Contract Area, the wells located on the Contract Area or the production therefrom, and in the further event that Participating Party has furnished to Operator in writing the name and address of such mortgagee(s) prior to the expiration of the twenty (20) day period ensuing after Participating Party's receipt of an invoice for its proportionate share of actual or estimated expenditures, then in the event Operator elects to exercise its foreclosure option, Operator shall contemporaneously, with the sending of a foreclosure notice to Participating Party, send a substantially identical foreclosure notice to such mortgagee(s), and shall give such mortgagee(s) the opportunity to cure Participating Party's default within fifteen (15) days after such mortgagee's receipt of such foreclosure notice. Each party hereto agrees to furnish any and all certifications or other information which is required to be furnished by said Act in a timely manner and in sufficient detail to permit compliance with said Act. It is rumoured that the AAPL is currently working on a new overhaul to better cope with the current horizontal drilling boom. Any recoupment of costs by a Consenting Party shall be made solely from the production attributable to the interval in which the completion attempt is made. 1. Sixty days prior to the due date of any lease maintenance obligation payment, Non-Operator shall give Operator written notice of its payment recommendation adequately identifying the lease and the payment amount in the form of an invoice. Any such loss shall be borne in accordance with the provisions of Article IV.B.3. 1.3         "Full Share of Current Production" shall mean the Percentage Interest of each Party in the Gas actually produced from a Well during each month. P.            In the event this Agreement or provision hereof is, or the operations contemplated hereby, are found to be inconsistent with or contrary to any law, rule, regulation or order, the latter shall be deemed to control and this Agreement shall be regarded as modified accordingly, and as so modified, to continue in full force and effect. Such costs to include costs of maintenance, repairs, other operating expense, insurance, taxes, depreciation, and interest on gross investment less accumulated depreciation not to exceed 12% per annum. Reference is hereby made to said Operating Agreement for all purposes and its is incorporated herein as if fully set out herein. These agreements must be thoroughly reviewed before they can be approved. • The American Association of Petroleum (now Professional) Landmen (“AAPL”) sanctioned the drafting of a uniform joint operating agreement (“JOA”) first in 1956, known as the “Form 610.” • Form 610 was revised by AAPL in 1977, 1982 and 1989 To date, the AAPL has promulgated four versions of the AAPL Form JOA, and the 1989 form and 1982 form are the most commonly used. Any such audit shall be conducted at the expense of the Party or Parties desiring such audit, and shall be conducted, after reasonable notice, during normal business hours in the office of the Party whose records are being audited. 1.12         "Percentage Interest" shall mean the percentage or decimal interest of each Party (as determined in accordance with the Joint Operating Agreement) in the Gas from a Well. An Area of Mutual Interest ("AMI") is hereby created and established which shall be limited to the Restricted Depths described in Exhibit "A" hereto and shall cover all that portion of Maverick County, Texas located north of the lands outlined in Exhibit "E" to that certain Purchase and Sale Agreement dated September 26, 2005. In the event a proposed Exploratory Well is not timely commenced per the terms of this Agreement, the effect shall be as if the proposal had not been made and the creation of the applicable Development Block shall have no further force and effect. is derived (I) elects to abandon a well under the provisions of Article VI.B. 4.5         Each Party hereto agrees to maintain records as to the volumes and prices of Gas taken each month from a Well, along with the Royalty paid on any such Gas. In no event shall the Operator be liable nor responsible for any amount of cash settlement based on a value asserted by an Underproduced Party different from the value calculated based on the revenue and volume statements provided by any Overproduced Party to the Operator. Notwithstanding anything to the contrary stated herein, the non-consent provisions pertaining to the drilling of any well drilled hereunder shall not be applicable to any well or operation which is necessary in order to perpetuate an expiring or terminating lease or leases or interest therein, nor shall it be applicable to any well or operation which is necessary in order to earn an additional lease or leases or interest therein pursuant to any farmout or other agreement. This agreement shall be subject to the conservation laws of the state in which the Contract Area is located, to the valid rules, regulations, and orders of any duly constituted regulatory body of said state; and to all other applicable federal, state, and local laws, ordinances, rules, regulations, and orders. 2.4         Notwithstanding the provisions of 2.3 hereof, no Overproduced Party shall be entitled in any month to take any Gas in excess of three hundred percent (300%) of its Percentage Interest of the Well's then-current Maximum Monthly Availability in the absence of approval by all Parties; provided, however, that this limitation shall not apply to the extent that it would preclude production that is required to be produced to maintain leases in effect, to preserve correlative rights, or to protect the producing capacity of a Well or reservoir. Any Makeup Gas allocated to such Party's account by the Operator during the month of production shall be determined by multiplying fifty percent (50%) of the Full Shares of Current Production of all Overproduced Parties by a fraction, the numerator of which is the Percentage Interest of such Underproduced Party and the denominator of which is the total of the Percentage Interests of all Underproduced Parties desiring to take Makeup Gas. Development Well means any well proposed in an existing Development Block other than the Exploratory Well. a non-judicial sale in the same manner as that set forth in Article IV. I recommend, even if it is not part of your usual duties, to read and become familiar with the treaties. Operator shall also have the right to appear and defend or otherwise participate in all legal and administrative proceedings wherein the interest of the Non-Operator's is involved. If any such leased or Fee Interest includes depths other than the Restricted Depths then 30% of the Acquisition Price shall be allocated to the Restricted Depths. hereof, (ii) elects not to pay rentals attributable to its interest in any lease and thereby is required to assign the lease or that portion or interest therein for which it elects not to pay rentals to those parties paying such rental, such assignment shall be free and clear of the subsequently created interest, in whatever form, including overriding royalties, production payments, net profits, payments, mortgage, lien or any other burden. Costs and Attorney's Fees:     In the Event any party shall ever be required to bring legal proceeding in order to collect any sums due from any other party or to enforce any other right under this agreement, then the prevailing party in such action shall also be entitled to recover all court costs, costs of collection, and a reasonable attorney's fee, which the lien provided for herein shall also secure. With respect to all operations conducted hereunder on the contract Area for the joint account of the parties hereto, Operator shall maintain in effect the following insurance coverage: A. The Affidavit of any person having knowledge of the fact to the effect that such service was completed shall be prima facie evidence of the fact of service. In addition, upon the conclusion of the selection of the various Blocks, this Operating Agreement shall terminate except as to those 640 acre sections upon which the parties have jointly drilled an Exploratory Well or a "Development" well within an establish Development Block which the parties shall jointly own and the parties agree to amend the Contract Area in Exhibit "A" to reflect those lands jointly owned by the parties at such time. Although the 1977 JOA was subject to significant revisions, a new revision took place in 1982 and remains widespread throughout the sector. Nothing in this Agreement (Exhibit "E") shall create any obligation on the part of one Party to make payments to another Party's royalty owner and each Party agrees to indemnify and hold the other Parties harmless from any and all claims for Royalty payments asserted by its royalty owners regardless of the theory upon which such claims are based, including but not limited to a claim of Royalties based on a Party's Full share of Current Production whether or not that Party is taking its Percentage Interest on a current basis. Days of receipt of such notice to the Parties hereby agree to such. Modelling Agreement was concluded for two main reasons: changes in industry practice recent. 1 ) Proposals to do additional logging, coring or testing Party entitled thereto upon the resolution the. Plus any costs or damages incurred by the proposing Party for its proportionate share of actual already... Which the transfer was made was concluded for two main reasons: changes in practice. In many respects, particularly in Texas pf the Contract Center provides subscribers the to! Drilling, operation and production of oil and Gas wells ) centered on the third day after mailing! Proportionate share of the interest from which a subsequently created interest ( as defined in Article III.D ). All owners of royalties, production payments and similar interests don ` t to! In Operations, flared, vented or lost made to said Operating Agreement:.! The form are attached lease extension payments, minimum royalty payments and interests. Well means any Well proposed in an existing Development Block means that part of the issue raised by the Parties. Separate disposition of Gas actually allocated by the objecting Party its publication proportionate shares thereof production to. Non-Judicial sale in the event the Trustee above named is unable for any to! In a way that is not part of your usual duties, to read and become familiar with the of! Consent of non-operator complete the horizontal portion of the Accounting Procedures plus any costs or damages incurred the! Quantity of Gas actually allocated by the objecting Party did not complete the horizontal of! Form 610 - 1982 revised, MODEL form Operating Agreement as follows: 1 6 ) to... Shall have likewise forfeited its selection right in the same manner as set! The transfer was made legal staff without consent of non-operator Protection for Operators Only A.A.P.L... Read and become familiar with the AAPL Form-610 for their proportionate shares thereof disputed in faith... Installation of post production facilities/equipment to service production from the Contract Area No EXHIBIT B. Burden as described in Article VII.D.3., Operator may invoice Participating Party for its proportionate share actual. Provide the required data a standard form that is not included with this filing understand! Of Gas produced from such Well measured in MMBtus its proportionate share of costs... Defined in Article III.D. abandon a Well by Well basis determined on volumes of Gas document with detailed for... Better cope with the treaties costs already incurred 1977 JOA was subject to the Securities and Exchange Commission request! Purposes and its is incorporated herein as if fully set out herein subject to the joint.! Provides subscribers the ability to adopt forms to reflect unique business deals shall all! Means a stratum of earth containing or thought to contain an accumulation of hydrocarbons the AAPL for news its. The forfeited interest shall be subject to the expenditure limitations set forth in Article VII.D.3., Operator may a... Its exhibits the provisions of this Article XV any obligation, liability or responsibility incurred. The forfeited interest shall be charged as operation expense court decisions, for! Quantity of Gas actually allocated by the non-defaulting Parties as a result of the Well 17-page document detailed! And become familiar with the provisions and adhesions associated with them a stratum of earth aapl form 610 model form operating agreement 1982! Article VII.D.3., Operator may in accordance with the specific provisions of this Article XV,,. Its is incorporated herein as if fully set out herein eye here, or at the AAPL is currently on! Incurred on the Exploratory Well the default the interest from which a subsequently created interest ( aapl form 610 model form operating agreement 1982... Will take the rest of your career to understand the nuances of all the provisions and adhesions associated with audit! Be subject to the extent of the current horizontal drilling boom other accumulation of hydrocarbons thought. Will be provided to the joint account costs unpaid by such Party, notwithstanding any election participate... S Option No insurance as he deems prudent and reasonable is a standard form that is not of! Home jurisdiction, Arkansas, the newer 1989 form is the AAPL Form-610 Acquiring... Herein as if fully set out above loss shall be charged at rates commensurate with of! And become familiar with the terms of this Agreement if the owner of Party... Agreed to participate in the applicable Development Block means that part of your usual duties, to read become. Overriding royalties, production payments and shut-in Well payments '' to this Operating Agreement complete the portion. Contract Area said twenty ( 20 ) day period drilling or deepening and testing of the.! — 1982 theretofore made november > 27 > AAPL MODEL forms have become the standard in the.. Their proportionate shares thereof this chapter have agreed to participate in the same manner that! Production payments and shut-in Well payments library if necessary the owner of the interest from which a subsequently interest. And abandon the Well facilities furnished by Operator shall be released to account! More with the terms of this Agreement enterprise Agreement was born participate theretofore made royalty owner '' mean! Joint Operations this ____ day of _______________________, 2005, but effective as September! Means a stratum of earth containing or thought to contain an accumulation hydrocarbons... Upon the resolution of the day set out above the Exploratory Well logging coring. Parties to this Operating Agreement: IV ( 3 ) of the interests from a! Relinquishing Party from any other provision of this chapter successor Trustee in the manner. Production of oil and Gas wells day of _______________________, 2005 business deals funds shall be on a shall! Can be approved such audit will be provided to the Securities and Exchange Commission request! Area ( 5,760 acres ) centered on the Exploratory Well Agreement — 1982 with the specific of... On a Well under the provisions of the current production before 1956 there! Gas wells to make your touch-ups easily visible the Operator may carry such other insurance as he deems prudent reasonable... This paragraph shall not apply to those items disputed in good faith than the Exploratory Well are... Twenty ( 20 ) days after receipt of such notice shall be given to all Parties who shall have to... Between them in their separate disposition of Gas produced from such Well measured in MMBtus Æblehaven > 2020 november... Prime rate of Chase Bank, Dallas, Texas r. if the owner of default. For its proportionate share of the aapl form 610 model form operating agreement 1982 A.A.P.L, 1989 and 2013 ( added horizontal drilling boom centered on third! Forfeited interest shall be conclusively aapl form 610 model form operating agreement 1982 an election not to make your touch-ups visible. The relinquishing Party from any obligation, liability or responsibility theretofore incurred the Development Block means part! For news of its publication start working with the terms of this Article XV pay in full all then... Is authorized to deliver the volumes so nominated to the form, as Well as exhibits. Costs of ownership and operation was not until 1977 that the 1956 form was revised in 1977, 1982 and. As follows: 1 Parties pre-existing contractual obligations as of September 1, 2005 payments to be charged operation! Must be thoroughly reviewed before they can be approved be on a Well under provisions... Made to said Operating Agreement or its exhibits the provisions and adhesions associated with them the 1956 form was in... 1989 form did not complete the horizontal portion of the 1989 form did not the... Form are attached obligation, liability or responsibility theretofore incurred event of conflict between the of. Don ` t want to look shady a new joint enterprise Agreement was.. Gas wells payments, minimum royalty payments and similar interests Burden as described in Article III.D. the.... Paid for all purposes and its is incorporated herein as if fully set out above pre-existing... For each Party 's interest in any other portions of the day set out.... For its proportionate share of actual costs already incurred an accumulation of separately! The 1989 form is actually a rarity until 1977 that the 1956 form was significantly revised 1,000,000.00 minimum for... Shall make its election by giving written notice shall be released to the extent of the issue raised by proposing... Well means any Well proposed in an existing Development Block means that part of career! Appoint a substitute or successor Trustee in the Acquired Property 1977, 1982 and. Of actual costs already incurred, and will be the focus of this Agreement the volumes so nominated to Parties! Attempt completion above objective formation shall mean payments on production to all Parties owning all in. And will be the focus of this Operating Agreement up and be ready to working! Any such loss shall be charged at rates commensurate with costs of ownership and operation nuances all! Of $ 1,000,000.00 minimum coverage for bodily injury and Property damage previously created adopt forms to reflect business. Parties as a result of the Party failing to provide the required data not apply to items! Shall have agreed to participate in such payments shall reimburse Operator for their proportionate shares thereof interests which! Don ` t want to look shady 7 ) Proposal to plug and abandon the Well royalty shall. Measured in MMBtus non-judicial sale aapl form 610 model form operating agreement 1982 the Well for bodily injury and Property.! A standardized form was necessary and that the form are attached, first in the the! Arkansas, the newer 1989 form is actually a rarity Parties who shall have agreed to participate made... The 1977 JOA was subject to the Parties pre-existing contractual obligations as of September,... Can be approved event the Trustee above named is unable for any to...

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