Production Proceeds. (a) To facilitate the collection and disbursement of the proceeds from the sale of oil and gas from any well covered by this Agreement, each Developer hereby irrevocably appoints Operator as his exclusive agent to collect any and all proceeds from the sale of such oil and gas whether such sale is made by the Developer or the Operator on behalf of the Developer and hereby agrees to name Operator as such agent in any contract for the separate disposition of such oil and gas. Any person or persons making payment to Operator shall be released from any and all liability with regard to the proceeds of such sale.
Appears in 4 contracts
Samples: Drilling and Operating Agreement (Indigo-Energy, Inc.), Drilling and Operating Agreement (Indigo-Energy, Inc.), Drilling and Operating Agreement (Indigo-Energy, Inc.)
Production Proceeds. (a) To facilitate the collection and disbursement of the proceeds from the sale of oil and gas from any well covered by this Agreement, each Developer hereby irrevocably appoints Operator as his its exclusive agent to collect any and all proceeds from the sale of such oil and gas whether such sale is made by the Developer or the Operator on behalf of the Developer and hereby agrees to name Operator as such agent in any contract for the separate disposition of such oil and gas. Any person or persons making payment to Operator shall be released from any and all liability with regard to the proceeds of such sale.
Appears in 2 contracts
Samples: Participation and Operating Agreement (Vadda Energy Corp), Participation and Operating Agreement (Vadda Energy Corp)
