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Beyond the “Knock” in Oilfield Master Service Agreements: Limiting Risk in the Rest of the Msa With a Complete Form

Donald P. Butler, Oil & Gas Agreements: The Exploration Phase (2004)

PART I CHECK LIST FOR LIMITING LIABILITIES IN MASTER SERVICE AGREEMENTS AND SIMILAR CONTRACTS IN AREAS OTHER THAN INJURED PERSONS AND DAMAGE PROPERTY

PART II USING INDEMNITIES TO CONTROL RISK IN ALL AREA OF THE CONTRACT, NOT JUST PEOPLE AND PROPERTY

PART III SELECTED AREAS FROM THE CHECKLIST IN PART I EXPANDING EXPLANATIONS, SUGGESTIONS, AND FORMS

TOPIC NO. 1: ALTHOUGH RARELY SEEN IN THE NATIONAL REPORTER SYSTEM, THE BENEFITS OF A CONSEQUENTIAL DAMAGE WAIVER ARE A MAJOR RISK REDUCTION TOOL FOR THOSE COMPANIES NOT INCLINED TO SOLVE THEIR PROBLEMS IN COURT.

TOPIC NO. 2: DO YOU WANT TO KNOW EVERY THING THERE IS TO KNOW ABOUT CONSEQUENTIAL DAMAGES, BUT ONLY HAVE TO PLOW THROUGH THE READER'S DIGEST VERSION? THE ASSOCIATION OF INTERNATIONAL PETROLEUM NEGOTIATORS IN THEIR SERVICE AGREEMENT PROJECT DID SOME STELLAR RESEARCH THAT DOES JUST THAT.

TOPIC NO. 3: WHILE THE ASSOCIATION OF INTERNATIONAL NEGOTIATORS WERE DOING THEIR SERVICE AGREEMENT AT DROP GORGEOUS FOREIGN DESTINATIONS, THE HOUSTON CHAPTER OF THE AMERICAN CORPORATE COUNSEL ASSOCIATION (OR AS IT IS KNOWN TODAY THE ASSOCIATION OF CORPORATE COUNSEL - AMERICA), WAS MEETING IN A WINDOWLESS OFFICE OF A MAJOR OIL COMPANY WORKING ON THEIR MASTER SERVICE AGREEMENT PROJECT. THEY BOTH CAME UP WITH CONSEQUENTIAL DAMAGE WAIVERS.

TOPIC NO. 4: THE KEY IS SEEING THE DIFFERENCE: CONSEQUENT