Participation Agreement for Oil & Gas Exploration
Write up a Participation Agreement for oil and gas exploration on rural land with this easy-to-use template.
- Parties and Purpose. The agreement is between a private land owner and an operator to fulfill work commitments and perform exploration with respect to various oil and gas properties.
- Participation. The operator will pay 100% of the costs of the work commitments. The title holder will hold a 50% interest in trust for the operator and will transfer this interest to the operator upon its fulfillment of its duties under the agreement.
- Payment of Costs. Each party will be responsible for paying all taxes, royalties and charges levied or assessed against its participating interest.
- Format. This legal contract template is available in MS Word format and is fully editable to fit your needs.
Last Updated: 02-August-2021