Farm in and Operator Sample Clauses

The 'Farm-in and Operator' clause defines the terms under which a third party (the farm-in party) acquires an interest in an oil and gas project and specifies the rights and responsibilities of the project operator. Typically, this clause outlines the process for transferring a working interest, the obligations the farm-in party must fulfill (such as funding exploration or development), and how operational control is managed or transferred. Its core function is to facilitate new investment and expertise into a project while clearly delineating operational authority and responsibilities, thereby reducing disputes and ensuring efficient project management.
Farm in and Operator 
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