Rights and Remedies of an Operator Vis-A-Vis a Defaulting Non-Operator under Joint and Unit Operating Agreements
Abstract"The oil and gas industry is not law unto itself and must operate within the strictures of the general principles of the law of contract and property." Within this framework, the author examines typical terms and conditions of Joint and Unit Operating agreements with view to discerning the nature of the operators' rights and remedies as against defaulting non-operator. Inadequate safeguards within the agreements and inequitable remedies at law are found to exist causing the author to make recommendations as to the drafting of agreements and the enactment of statutory provisions to improve this disadvantageous position.
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