Legal Problems Arising Out of Co-Ownership of Oil and Gas Leasehold Estate and Facilities
AbstractMost joint venture agreements provide that the parties thereto shall own the joint property in undivided interests. If the agreement does not specify the rights and liabilities of the co-owners, resort must be had to general principles of the law of co-tenancy to determine the right of one co-tenant to drill for and produce oil and gas, the right of one co-tenant to the use of common facilities and the right of one co-tenant to alienate his interest. This article investigates these and related problems and concludes that, in the absence of legislation, there is no authoritative enunciation of the law governing the rights of co-tenants inter se in relation to oil and gas properties and facilities.
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