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The effects of default, transfer, and withdrawal provisions on JOA exits: should I stay or should I go?

Pereira, Eduardo; Pappa, Marianthi

The effects of default, transfer, and withdrawal provisions on JOA exits: should I stay or should I go? Thumbnail


Authors

Eduardo Pereira



Abstract

Default, transfer of interest or rights, and withdrawal are prima facie three distinct clauses in a Joint Operating Agreement (JOA). They serve different purposes and are subject to different conditions. But at the same time, they may all lead to a party’s exit from the JOA. Although these concepts have been long analysed in theory, practice, and jurisprudence, the extent to which they all fit together in the same context remains unclear. Important questions arise about their interconnection, and with regards to compensation and liability of the departing party. The answer to these questions may ultimately determine the consequences of each ‘’exit strategy’’ and which way would be the best if a member contemplates leaving the JOA. By shedding light to the above topic, this analysis seeks to inform theorists and professionals alike.

Citation

Pereira, E., & Pappa, M. (2019). The effects of default, transfer, and withdrawal provisions on JOA exits: should I stay or should I go?. International Energy Law Review, 2019(2), 39-47

Journal Article Type Article
Acceptance Date Feb 7, 2019
Publication Date 2019
Deposit Date Feb 7, 2019
Publicly Available Date Jan 1, 2021
Journal International Energy Law Review
Print ISSN 1757-4404
Electronic ISSN 1757-4404
Publisher Sweet and Maxwell
Peer Reviewed Peer Reviewed
Volume 2019
Issue 2
Pages 39-47
Keywords joint operating agreement; default; transfer of interest or rights; withdrawal; compensation; liability
Public URL https://nottingham-repository.worktribe.com/output/1527198
Additional Information This is a pre-copyedited, author-produced version of an article accepted for publication in International Energy Law Review following peer review. The definitive published version The effects of default, transfer, and withdrawal provisions on JOA exits: should I stay or should I go?
Dr Eduardo G. Pereira, Dr Marianthi Pappa
I.E.L.R. 2019, 2, 39-47 is available online on Westlaw UK.
Contract Date Feb 8, 2019

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