Joint Ventures-The Limited Fiduciary Relationship Structure

5.1.21
VI. Schedule AIndex of Joint Operating Agreement
(JV Operating Agreement, Canadian Association of Petroleum Landmen – Copyright – Used with permission)
1. INTERPRETATION
101 Definitions
102 Headings
103 References
104 Optional And Alternate Provisions
105 Derivatives
106 Use Of Canadian Funds
107 Conflicts
2. APPOINTMENT AND REPLACEMENT OF
OPERATOR
201 Assumption Of Duties of Operator
202 Replacement Of Operator
203 Challenge Of Operator
204 Resignation Of Operator
205 Modification Of Terms And
Conditions By Operator
206 Appointment Of New Operator
207 Transfer Of Property On Change Of
Operator
208 Audit Of Accounts On Change Of
Operator
209 Assignment Of Operatorship
3. FUNCTION AND DUTIES OF OPERATOR
301 Control And Management Of
Operations
302 Operator As Joint-Operator
303 Independent Status Of Operator
304 Proper Practices In Operations
305 Books, Records And Accounts
306 Protection From Liens
307 Joint-Operator's Rights Of Access
308 Surface Rights
309 Maintenance Of Title Documents
310 Production Statements And Reports
311 Insurance
312 Taxes
4. INDEMNITY AND LIABILITY OF
OPERATOR
401 Limit Of Legal Responsibility
402 Indemnification Of Operator
5. COSTS AND EXPENSES
501 Accounting Procedure As Basis
502 Operator To Pay And Recover From
Parties
503 Advance Of Costs
504 Forecast Of Operations
505 Operator’s Lien
506 Reimbursement Of Operator
507 Commingling Of Funds
6. OWNERSHIP AND DISPOSITION OF
PRODUCTION
601 Each Party To Own And Take Its
Share
602 Parties Not Taking In Kind
603 Operator Not Taking In Kind
604 Marketing Fee
605 Payment Of Lessor's Royalty
606 Distribution Of Proceeds
607 Audit By Non-Taking Party
608 Disposing Party To Be Indemnified
7. OPERATOR'S DUTIES RE CONDUCTING
JOINT OPERATIONS
701 Pre-Commencement Requirements
702 Drilling Information And Privileges
Of Joint-Operators
703 Logging And Testing Information To
Joint-Operators
704 Well Completion And Production
Information To Joint-Operators
705 Well Information Subsequent To
Completion
706 Data Supplied In Accordance With
Established Standards
707 Additional Testing By Less Than All
Joint-Operators
708 Application Of Article 7 When
Operation Conducted By Less Than
All Parties
8. ENCUMBRANCES
801 Responsibility For Additional
Encumbrances
802 Exception To Clause 801