Does the operator in a Joint Operating Agreement owe a fiduciary duty to non-operators?

A case study of the USA Model Forms and judicial decisions

Nonfiction, Social & Cultural Studies, Political Science
Cover of the book Does the operator in a Joint Operating Agreement owe a fiduciary duty to non-operators? by Shamsu Yahaya, GRIN Verlag
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Author: Shamsu Yahaya ISBN: 9783640519118
Publisher: GRIN Verlag Publication: January 28, 2010
Imprint: GRIN Verlag Language: German
Author: Shamsu Yahaya
ISBN: 9783640519118
Publisher: GRIN Verlag
Publication: January 28, 2010
Imprint: GRIN Verlag
Language: German

Studienarbeit aus dem Jahr 2009 im Fachbereich Politik - Internationale Politik - Region: USA, University of Abertay Dundee (Centre for energy, petroleum and mineral law and policy), Sprache: Deutsch, Abstract: The classification of the operator's relationship with the non-operators in a Joint Operating Agreement is an issue that deserves some scrutiny. Is the operator a fiduciary or not? In an attempt to answer this question, this paper will take a case study of the United States model Joint Operating Agreement forms and undertake an analysis of judicial interpretations and approaches to the provisions in the Model Forms regarding the duties and liabilities of operators. Both Common Law and Equity have classically imposed fiduciary duties on trustees and agents. The courts, as we shall see, have, however rendered different connotations in ascertaining the operator's duties despite the clear language used in the Model Forms exempting the operator from fiduciary obligations. The conclusion at the end will highlight the position of the law in other jurisdictions outside the USA.

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Studienarbeit aus dem Jahr 2009 im Fachbereich Politik - Internationale Politik - Region: USA, University of Abertay Dundee (Centre for energy, petroleum and mineral law and policy), Sprache: Deutsch, Abstract: The classification of the operator's relationship with the non-operators in a Joint Operating Agreement is an issue that deserves some scrutiny. Is the operator a fiduciary or not? In an attempt to answer this question, this paper will take a case study of the United States model Joint Operating Agreement forms and undertake an analysis of judicial interpretations and approaches to the provisions in the Model Forms regarding the duties and liabilities of operators. Both Common Law and Equity have classically imposed fiduciary duties on trustees and agents. The courts, as we shall see, have, however rendered different connotations in ascertaining the operator's duties despite the clear language used in the Model Forms exempting the operator from fiduciary obligations. The conclusion at the end will highlight the position of the law in other jurisdictions outside the USA.

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