Alberta Quit Claim Agreement for Oil and Gas Rights

Assign, transfer and give up all rights to oil and gas assets in Alberta with this Quit Claim, Assignment and Conveyance of Interest form.

• The assets being conveyed to the purchaser include petroleum and natural gas rights, equipment and miscellaneous interests.
• The assets are transferred on an 'as is, where is' basis.
• The purchaser assumes the vendor's liability and obligations with respect to the assets, including environmental liabilities, and will indemnify the vendor with respect to the same.
• The parties mutually release each other from any and all claims, actions, damages and losses.
• This legal document is intended for use in the Province of Alberta, Canada.
• The form is available in MS Word format. Other formats available on request.

Sell your interest in oil and gas leases with this Purchase and Sale Agreement for the Province of Alberta.

• The Vendor will prepare and pay the cost of the conveyances.
• The Vendor will remit the GST payable on the transaction.
• The closing is subject to several conditions, including satisfactory completion of the purchaser's review.
• The Agreement contains standard representations and warranties given by each party.
• Each party indemnifies the other.
• Operating costs and proceeds will be adjusted as of the adjustment date, and the purchase price will be adjusted accordingly.
• The Vendor will maintain the assets in accordance with good oil field practice until the closing and will not make any commitments or expenditures in excess of a specified amount without the consent of the Purchaser.
• The Vendor will give appropriate notice to third parties with rights of first refusal.
• This Purchase and Sale Agreement for oil and gas leases is intended for use in the Province of Alberta, Canada.

Transfer title to oil and gas assets in Alberta with this simple Specific Conveyance Agreement form.

• The Conveyance form transfers the vendor's (seller's) interest in certain petroleum lands, leases, rights, units and facilities being sold and transferred to the purchaser under a Purchase and Sale Agreement.
• The purchaser becomes liable for all obligations with respect to the interests on the closing date.
• This legal contract template is available in MS Word format and is fully editable.
• Intended for use in the Province of Alberta, Canada.

Use this 7-page checklist to help you prepare a Purchase and Sale Agreement for petroleum and natural gas rights in Alberta.

The checklist covers the issues to consider and the documents to be obtained and reviewed as part of the transaction, such as:

• definitions of important terms;
• how the purchase price will be allocated;
• maintenance of the business;
• access to pertinent records and documents;
• representations of the purchaser and the seller;
• conditions of closing.

This Alberta Checklist for Oil and Gas Purchase and Sale Agreement is available as a downloadable and fully editable MS Word form.