Bifurcation of Title in International Oil & Gas Agreements
Article from: OGEL 1 (2012), in A Liber Amicorum: Thomas Wälde - Law Beyond Conventional Thought
Owners of oil and gas rights often want to transfer all or part of their rights and obligations to other parties. They transfer these rights and obligations for a number of reasons; including to raise capital and to spread risk. They use different kinds of contracts to carry out such transfers; such as farmout, participation, swap and transfer agreements. They employ a number of legal mechanisms in these contracts to effectuate these transfers; one of which is the splitting or bifurcation of title in the oil and gas rights. Bifurcation of title results in the splitting of the ...