Just saw this in a Supreme Court document in a case between Apache and Santos in 2015. What caught my eye was the below statement and I was wondering whether such a clause would come into effect if a T/O occurred for FAR;
"or if there was a proposed change in control of that participant, the other participants would have a right of pre-emption to acquire the outgoing participant's participating interest.".
https://www.allens.com.au/pubs/oil/fooil11aug15.htm
The Joint Operating Agreement between the parties (the JOA) provided that, if a participant wished to transfer its participating interest to a third party, or if there was a proposed change in control of that participant, the other participants would have a right of pre-emption to acquire the outgoing participant's participating interest.
Aussie Oil and Gas Premption period again?, page-45
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