Pursuant to the agreement forming the joint venture, Bellatrix and TCA will drill and develop lands in the Ferrier Cardium area of West Central Alberta, with the program to be completed by December 31, 2014.
- October 1 2013- By Chris Sheehan, Hart Energy- free
Joint venture activity has also largely dried up, with Chesapeake Energy, for example, selling interests in only $1- to $3 billion a year of properties, down from a previous pace of $5- to $10 billion.
The YPF-Chevron accord doesn’t contain any price guarantees or secret clauses and will be governed by U.S. and Argentina laws and any disputes would go to the International Chamber of Commerce in Paris for arbitration.
The final terms and conditions of the proposed farm-in remain subject to the negotiation and execution of formal agreements between ExxonMobil and CBM Asia, as well as, among other conditions, government approvals.