Is the Price Right? - Oil and Gas Investor

    3 February 2011

    Under most oil and gas leases, the lessee owns the natural gas and is obligated to pay the lessor some fraction of the value or of proceeds received from production. Likewise, under the most frequently used AAPL Form 610  Model Form Operating Agreement (the “JOA”), nonoperating working interest owners have the right to either take their share of oil and gas production in kind or have the operator market all of the production.

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    Reprinted with permission from Oil and Gas Investor Magazine.