News & Analysis as of

Energy Sector Joint Operating Agreement

Vinson & Elkins LLP

The Stabroek JOA Arbitration: Is It Time to Revisit JOA Change in Control Provisions?

Vinson & Elkins LLP on

In the first in our series on JOA issues, we discuss the recent Stabroek JOA Arbitration decision and what it means for JOA parties considering their own JOA Change in Control provisions. Chevron Corporation’s (“Chevron”)...more

McGinnis Lochridge

When "Imprudent" Becomes Irrelevant: How Express JOA Language Overrides Operator Discretion

McGinnis Lochridge on

In this case, Texas Crude Energy, LLC (Texas Crude) and Warwick-Athena, LLC (Warwick) (collectively, the non-operators) sued Burlington Resources Oil & Gas Co., LP (Burlington or the operator) after Burlington refused to...more

Opportune LLP

Asset-Backed Security Guide for Oil and Gas Financing

Opportune LLP on

Leveraging oil and gas assets for capital has become a strategic imperative for independent producers grappling with limited traditional financing options and economic volatility. Asset-backed securities (ABS) in the oil and...more

Vinson & Elkins LLP

The AIEN 2023 International Model Joint Operating Agreement

Vinson & Elkins LLP on

The article examines the JOA’s main provisions, including rights and duties of the operator, operating committee, work programs and budgets, contract awards, greenhouse gas provisions, exclusive operations, default,...more

Holland & Knight LLP

Key Considerations for Companies Looking to Exit Oil and Gas Projects

Holland & Knight LLP on

The Eagles, in their popular song "Hotel California," were prophetic when singing, "You can check out any time you like, but you can never leave." Oil and gas companies today may find it increasingly difficult to exit oil and...more

Bracewell LLP

The 2023 AIEN Model Form JOA Placing ESG issues at the heart of oil and gas operations

Bracewell LLP on

On 16 February 2023, the Association of International Energy Negotiators (“AIEN”, formerly the Association of International Petroleum Negotiators or AIPN) published an updated version of its model form joint operating...more

Hicks Johnson

How Do JOA Exculpatory Clauses Work Under Texas Law? Part One: The Fundamentals

Hicks Johnson on

The Joint Operating Agreement (JOA) is often the key contract between parties that have a shared interest in oil and gas exploration, development, and production in a designated area. And one of the most contested provisions...more

Akin Gump Strauss Hauer & Feld LLP

Preparing for a Joint Venture Partner’s Bankruptcy in the Aftermath of COVID-19 and an Oil Price Collapse

As the U.S. energy industry comes to grips with the most dire economic crisis in its history, wrought by an invisible virus and global oil price war, and with many exploration and production (E&P) producers substantially...more

BCLP

Joint Operating Agreements: What have we learned from the High Court’s decision in TAQA v Rockrose

BCLP on

On Friday 17 January 2020, the High Court gave its judgment in the TAQA Bratani v Rockrose case (TAQA Bratani Ltd and others v. RockRose UKCS8 LLC [2020] EWHC 58 (Comm)). In this judgment, the Court held in favour of the...more

Bracewell LLP

JOAs: “Good Faith” and the implied qualification of express contractual powers

Bracewell LLP on

There have been a number of recent English Court decisions concerning implied obligations of good faith. In May 2019, we considered the potential impact of those decisions on joint operating agreements in the oil & gas...more

Bracewell LLP

Obligations of Good Faith in JOAs - The Impact of Recent Decisions on 'Relational Contracts'

Bracewell LLP on

In the international upstream oil and gas exploration and production industry, joint operating agreements (“JOAs”) are the key agreements which govern the terms upon which oil and gas companies regulate their upstream joint...more

King & Spalding

Energy Newsletter - August 2017

King & Spalding on

Practical Issues Under Joint Operating Agreements Relating to Withdrawals, Transfers and Changes in Control - In light of their long term objectives and potential future transactions, parties should consider the...more

Porter Hedges LLP

Oil & Gas Tax Alert - "Trump's 15% Pass Through Tax Proposal: Say Goodbye to Joint Operating Agreements?"

Porter Hedges LLP on

On Wednesday, April 26, President Trump submitted his tax reform proposal which is, for now, only about 100 words long. It contemplates a number of sweeping changes to the tax code. On the business side, these include a 15%...more

Gray Reed

Oil Industry Custom and the Model Form JOA: A Debate

Gray Reed on

We begin with an existential question: “The philosophy behind all of the model form agreements is that aggressive drilling under the JOA should be promoted and rewarded. Agree or disagree? ...more

Gray Reed

Arbitration in Louisiana – Another Budding Romance?

Gray Reed on

Are Louisiana courts as enamored with arbitration as their Texas counterparts? Looks like it. East of the Sabine, submitting your dispute to arbitration means you are pretty much saying adieu, farewell and bye-bye to...more

15 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide