Three Provisions to Change in your Oilfield Master Service Agreements
Hidden perils in oilfield master service contracts have the potential to bring even a thriving company to its knees, making even big business with big clients a big mistake, writes Jordan J. La Raia in Gardere’s Texas Energy Law blog.
“The good news is that even today big and small operating companies usually expect to negotiate (even with the small guys) and a few small requests can make the difference between meeting budget and bankruptcy,” he writes, before discussing three red flags that could be found in the next contract.
Those flags include the areas of insurance, enforceable indemnities, and catastrophic events.
