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Bidding and Joint Operating Agreements: Similarities and Differences in Gulf of Mexico Agreements and Alaska Agreements

Terry E. Hogwood, Oil and Gas Operations in Federal and Coastal Waters (1989)

This paper is agreement driven. That is, the author solicited and received from many companies examples of not only their own particular form of agreement but examples of agreements that they had entered into with other companies not directly surveyed. The author has been careful to keep confidential the identities of those companies that submitted the various agreements from being associated with any particular provision. The reader is cautioned that no conclusions can be drawn from the paper about which company submitted which provision. Given the time factor within which to write the paper, the author recognizes that not all companies participating in the two above identified areas were contacted. However, a diligent effort was made to solicit sample agreements from both the major participants in a given area as well as smaller companies also active in that particular area.

This paper was drafted not as a suggested model form for the provisions examined but as a starting point for the reader, when confronted with the possibility of drafting or commenting on a similar agreement, to have an idea of the apparent majority and potential minority positions on a given provision. It is equally as important to explore the underlying philosophy for the various provisions so that the reader can determine if its client company has the same or similar philosophy.