Alberta Assignment and Novation Agreement

Transfer an interest in Alberta oil and gas assets from one operator to another with this template Assignment and Novation Agreement.

• The original operator (assignor) assigns all of its rights and interest in the properties to another operator.
• The assignor novates the new operator as a party to the original agreement under which the assignor acquired its interest.
• All other stakeholders who were parties to the original agreement consent to the transfer and waive their pre-emptive rights.
• The other stakeholders also release the assignor from performance of the original agreement after the effective date of the assignment.

The Alberta Assignment and Novation Agreement (Change of Operator) is a fully editable legal form template.