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Due diligence can be a legal obligation, but the term more commonly applies to voluntary investigations. It may also offer a defence against legal action. A common example of due diligence is the process through which a potential acquirer evaluates a target company or its assets in advance of a merger or acquisition. [1]
DOGGR – Division of Oil, Gas, and Geothermal Resources (former name of California's regulatory entity for oil, gas, and geothermal production) DOPH – drilled-out plugged hole; DOWRE – downhole report; DP – drill pipe; DP – dynamic positioning; DPDV – dynamically positioned drilling vessel; DPL – dual propagation log
Oil and gas law practitioners usually fall into three broad categories. First, oil and gas companies usually have in-house attorneys that advise the company of its rights and the legal issues. These attorneys are usually assisted by landmen, who examine property titles, land oil and gas rights, and acquire property for the company. Landmen may ...
When a petroleum license is granted, the company or joint venture is given a limited time for the exploration of the license. If after the limited time, the company has not discovered or performed its minimal obligations (usually agreed with the government as a minimum number of exploration wells and investment on seismic ) the license will be relinquished.
Trading Crude Oil CFDs has become increasingly popular over the last few years. This is because CFDs offer a number of advantages over other financial instruments. Trading Oil with Contract for ...
Before entering an international joint venture, businesses are advised by business advisers to do a thorough due diligence on the country, the business, and the partner. Due diligence is the investigation of a country, business or person, for the purpose of obtaining useful information on the potential benefits, pitfalls and costs.
The use of shadow fleet vessels in crude oil trading is particularly concerning due to the potential for large oil spills. These ships, which frequently operate on the shores of heavily sanctioned countries like Venezuela and Cuba , are not only poorly maintained but also often fail to meet regulatory standards.
The commitment by the lenders is usually subject to further detailed due diligence and negotiation of project agreements and finance documents including the security documents. The next phase in the financing is the negotiation of finance documents and the term sheet will eventually be replaced by the definitive finance documents when the ...