If you are involved in a dispute within the oil and gas industry in California, it is helpful to understand what options you have to resolve the issues. Generally, you will be looking at one of three binding dispute resolution methods, which according to Oil & Gas Financial Journal are arbitration, expert determination and litigation.
A joint operating agreement is something commonly used in the oil and gas industries in California. If you are interested in getting into these industries, then you have likely heard of a JOA. The Oil & Gas Financial Journal explains that this type of agreement is part of establishing a joint venture. There is no one set format for a JOA that you have to use, but there are some common items typically included in all JOAs.
The major protests may be over for now, but a recent spill reminds us that all the issues have not been resolved. The 1,172-mile pipeline between the Bakken oil fields and Illinois is not yet operational -- that's set for June 1. Still, President Trump green-lighting the project shortly after taking office had tamped down the opposition substantially -- until now.
California property owners who have been approached by an oil or gas company about their mineral rights may be unsure what to do. They might not even understand what these rights are or what they mean. When faced with an offer to buy those rights, many owners may feel confused and not understand exactly what will happen if they sign them over. These are not uncommon thoughts and feelings. This whole legal area can be confusing.