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Some Recurring Issues In Operating Agreements And What Aapl's Drafting Committee Might Do About Them, John S. Lowe

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The inherent inefficiency of reinventing the wheel for every drilling venture led to the development of the first American Association of Professional Landmen (AAPL) Form 610 Model Form Operating Agreement in 1956 (AAPL Form 610-1956). Revised forms followed in 1977, 1982, and 1989. The AAPL model forms have become the standard in the United States, and will be the focus of this chapter. The AAPL has begun the process of revising the AAPL Form 610-1989 Model Form Operating Agreement (AAPL Form 610-1989),19 and over the next couple of years everyone active in the industry likely will find themselves discussing what …