OIL JOINT VENTURES

Corporate Law Firm for

Oil Industry Mergers & Acquisitions

Neufeld Legal P.C.

 Oil M&A Main      Oil Acquisitions      Joint Ventures      Assessing Target      Pursuit      Strategy      Closing the Deal

M&A Main

Legal Counsel

Oil Acquisitions

Joint Ventures

Assessing Target

Pursuing Acquisitions

Strategy & Tactics

Closing the Deal

Objective Alberta

 

OIL SECTOR JOINT VENTURES & PARTNERSHIPS

In many instances, the outright acquisition of an oil or gas company is not possible, such that the operative mode of attaining a substantive interest in target oil company is through a joint venture or partnership. This is particularly common with international deals, where national regulatory controls can preclude certain mergers and acquisitions in the petroleum industry.

It must be remembered that joint ventures and partnerships are legal constructs and as such the significance of legal drafting and negotiations in their formation cannot be understated. For in the absence of a properly conceived and drafted joint venture agreement or partnership agreement, the foundation for this particular type of business relationship is subject to increased misunderstandings and arguments. This is due to the absence of a clear direction and appropriate controls that are critical to such contractual arrangements, and which require the involvement of knowledgeable legal counsel to facilitate the correct determination of the business relationship and its implementation.

As such, when your company is looking to undertake a joint venture or partnership in the oil sector , you should be looking to the legal and advisory services of Neufeld Legal P.C. With our primary emphasis on corporate transactions in Alberta oil basin, on both a national and international level, while also providing important legal counsel for joint ventures and partnerships by Canadian and American corporations overseas, Neufeld Legal P.C. is your source for assertive and knowledgeable legal and consultative advice. Contact us at Chris@NeufeldLegal.com or 403-400-4092.

Significant Oil & Gas Legislation
Oil Sands Conservation Regulation
Licensing, drilling, etc. of wells
4(1) Prior to drilling a well or undertaking any operations preparatory or incidental to the drilling of a well, except for the surveying of the proposed well site or continuing any drilling operations, an operator of an oil sands site shall apply for and obtain a licence for
(a) evaluation wells, subject to subsection (5),
(b) experimental wells,
(c) wells associated with an in situ operation,
(d) any water supply well of a depth of more than 150 metres, and
(e) primary production wells, in accordance with the requirements of Parts 2 and 13 of the Oil and Gas Conservation Regulations (Alta. Reg. 151/71).
(2) Any operations incidental to the drilling of a well or continuing any drilling operations, servicing operations, producing operations or injection operations for a well referred to in subsection (1) shall be carried out in accordance with the requirements of Parts 3, 6, 8 and 11 of the Oil and Gas Conservation Regulations (Alta. Reg.
151/71).
(3) The licensee of a well shall apply for and obtain the approval of the Board before suspending normal drilling operations, abandoning the well, plugging back or abandoning a formation in the well, removing casing from the well or resuming drilling operations after a previous suspension or abandonment of the well in accordance with Part 3 of the Oil and Gas Conservation Regulations (Alta. Reg. 151/71).
* For the full statute, please click on this link. Nothing should be read in the abstract and specific legal advice is always recommended.

Oil acquisitions into Canada from China - 中国; United Arab Emirates - الامارات / Saudi Arabia - المملكة العربية السعودية , Russia - Россия, Germany - Deutschland

Providing legal counsel to corporate oil-sector companies undertaking business mergers and acquisitions in Canada and the United States of America. The legal operations of Neufeld Legal P.C. pertaining to the oil & gas sector are based out of Calgary, Alberta, Canada (144 - 4th Ave. SW, Ste 1600, Calgary, Alberta). Provided in association with the Oil & Gas Lawyer website. Legal Disclaimer. Privacy Policy. Copyright 2011.