The Role and Duties of Operating Party in JOAs from the Perspective of the USA Oil & Gas Industry and Legal System

the USA has extracted its very first oil reservation in the late of 19th century and it caused the notable change of political and economic position of the USA in the world. from the legal perspective the USA also faced with essential change in the contractual system and it was because of the common usage of joint operation agreements that is one of the most popular contacts in the USA oil & gas industry and legal system. The parties of this kind of contract are divided into operating party and non-operating party. This article has analyzed the reason why this kind of contract is popular in the USA oil & gas and legal system, the role and duties of operating party and the method by the rights of non-operating party might be preserved to make sure that the rights of the non-operating part is preserved and the expectations of the contract will be fulfilled.