OFFSHORE OPERATING AGREEMENT Sample Clauses
An Offshore Operating Agreement is a contract that outlines the rights, responsibilities, and procedures for parties involved in the exploration, development, and production of oil and gas resources in offshore areas. This agreement typically details how costs and revenues are shared, the management structure for operations, and the protocols for decision-making among the parties. By clearly defining operational roles and financial arrangements, the agreement helps prevent disputes and ensures efficient, coordinated management of offshore projects.
OFFSHORE OPERATING AGREEMENT. The ITW shall be drilled in accordance with the OOA which is attached hereto as Exhibit “D”. Sent in conjunction with, and as a condition to this Agreement is a Ratification and Joinder of Offshore Operating Agreement (“Ratification”). Contemporaneously with the execution of this Agreement, Ridgewood agrees to execute the Ratification and return three (3) signature pages to LLOG. LLOG shall endeavor to obtain Apache’s signature on the Ratification and shall furnish Ridgewood with one fully executed original. All operations on the Initial Test Well and any and all subsequent operations on the CPA shall be conducted in accordance with the terms and provisions of the OOA. As between LLOG and Ridgewood, if there are any conflicts between this Agreement and the OOA, the terms and provisions of this Agreement shall prevail and govern. As to that portion of the Redacted Lease not within the CPA, LLOG and Ridgewood shall be deemed to be bound under the terms of an Operating Agreement identical in terms to the OOA with an Exhibit “A” covering that portion of the Redacted Lease not within the CPA and with the Parties being LLOG 50% and Ridgewood 50%.
OFFSHORE OPERATING AGREEMENT. Chevron and Company will execute the Operating Agreement, on the form set out as Exhibit "E", before the Initial Test Well is commenced on the Primary Prospect. Exhibit "A" to the Operating Agreement will be amended between the Parties for each Exhibit "B" Prospect no later than ten (10) Business Days before the Initial Test Well is commenced on such Prospect, unless Chevron elects to farmout. All of the Prospect will be covered and governed by the Operating Agreement for that Prospect. In the event an existing Operating Agreement is already in place covering one or more Leases in the Prospect, Chevron shall provide a copy of such Operating Agreement to Company. Company will be required to accept and ratify such existing Operating Agreement prior to participating in the drilling of the Initial Test Well on such Prospect, but only if the applicability or use of said existing Operating Agreement is required by or insisted on by the Minerals Management Service in the case of an Operating Agreement for a Minerals Management Service approved unit, or by a working interest party (ies) to said existing Operating Agreement other than a Party hereto. Notwithstanding anything to the contrary herein, the terms of the applicable Operating Agreement apply to all operations conducted for that Prospect and to all payments made and obligations arising thereunder with respect to such Prospect and under this Agreement or the applicable Operating Agreement, unless specifically in conflict with the terms of this Agreement, in which event the terms of this Agreement will control as provided under Section 28.15 below.
OFFSHORE OPERATING AGREEMENT. On a well by well basis, all operations conducted pursuant to this Participation Agreement shall be governed by the terms and provisions of that certain Offshore Operating Agreement, dated March 1, 2004, attached hereto as Exhibit “C” and made a part hereof (the “OOA”) naming Palace Operating Company as Operator. In the event of a conflict between this Participation Agreement and said OOA, the terms and conditions of this Participation Agreement shall prevail, but only to the extent of such conflict.
OFFSHORE OPERATING AGREEMENT dated August 1, 1977, between Transco Exploration Company, as Operator, and Freeport Oil Company, et al., as Non-Operators, as amended;
OFFSHORE OPERATING AGREEMENT. The ITW shall be drilled in accordance with the February 15, 2008 Offshore Operating Agreement ("OOA") which is sent in conjunction with, and as a condition to this Agreement. Contemporaneously with the execution of this Agreement, Ridgewood agrees to execute the OOA and return two (2) signature pages to LLOG. Castex Offshore, LLC ("Castex") is also a party to the OOA and LLOG shall furnish Ridgewood copies of Castex's signature page. All operations on the Initial Test Well and any and all subsequent operations on the Lease shall be conducted in accordance with the terms and provisions of the OOA. If there are any conflicts between this Agreement and the OOA, the terms and provisions of this Agreement shall prevail and govern.