Confidentiality Agreement Oil And Gas

5. If it is a proposal to jointly purchase oil and gas facilities, real estate or leases, there may be a temporary agreement that is not competitive If you wish to purchase oil and gas real estate, you may consider that before entering into negotiations, you have an obligation to enter into an agreement on the confidentiality of the information and data exchanged , to enter. In short, you must keep a lot of information confidential. 2. An agreement that you let your contractors, employees and other advisors bind to the confidentiality agreement, If you spend a lot of time and energy negotiating the confidentiality agreement, then there is a problem. There are clear industry standards – and they are beneficial to all concerned. The only issue that should ever be the subject of serious debate is the scope (often geographical) and duration of the non-competition clause. The provisions that generally appear in such an agreement include: 6) corrective measures in the event of a breach of the confidentiality agreement, including a forum in which all disputes are settled, and the contractual transfer of legal fees to the party in question 4. An agreement that allows you to return all the evaluation documents (and copies) made available to you if the sale is not of the same importance, it is essential that your contractors and employees are aware of the nature of the confidential relationship – and that the information you receive is properly managed confidentially.

Beyond the obvious legal problems for your negligence, your credibility will be totally lost. You are responsible if your contractors or employees are negligent – confidentiality is your role, and that is a serious thing. Confidentiality is a serious matter, and serious buyers (and their contractors, employees and agents) take it seriously. If someone doesn`t, they shouldn`t be on the acquisition team. DISCLAIMER: The information on this website is not intended to provide legal advice, legal recommendations or legal representations in any matter. You must personally consult a lawyer for legal advice regarding your individual situation. 1. Identification of confidential material THE WILHELM LAW FIRM, 5524 Bee Caves Road, Suite B5; (512) 236 8400 (telephone); (512) 236 8404 (fax); Edward Wilhelm and Jack Wilhelm support buyers and sellers of oil and gas properties.