utulsa.edu

Oil & Gas Industry Contracts

In just two days, you will learn the key issues and challenges of the different types of oil and gas industry agreements that are in common use today…the Joint Operating Agreement, the Farmout Agreement, the AMI, and the Gas Balancing Agreement.

Tim Dowd, the instructor, will guide you through the various contracts focusing on understanding the key issues, along with proposed drafting techniques and typical problems. His question and answer exercises will take you through real-world examples in which you will learn and determine what these agreements provide.

Participants will examine general contract terms which impact and are common to all types of agreements. Mr. Dowd will look at the history of the Model Form Operating Agreement, as well as other agreements, and discuss the issues of joint operations, and the relationship and duty to the nonoperator. He will delve into farmout agreements, assignments and term assignments entered into by the land department. By attending this two-day seminar, the participant will become knowledgeable in the area of all typical intra-industry contracts.

Participant Comments:

“Mr. Dowd is very knowledgeable and adds humor to the class.”
“Tim was very thorough about answering all questions and he took the time to answer them completely.”
“What an excellent instructor. Tim was very detailed and helpful.”

2017 Oil & Gas Industry Contracts Brochure

In-Company Training

Many courses offered by CESE are also available on-site. In-company training simplifies scheduling, ensuring more of your employees will be able to attend and learn. Request a Course Quote

Instructor

Timothy C. Dowd

Who Should Attend

    • Oil & Gas Attorneys
    • Landmen
    • Lease Analysts
    • Division Order Analysts
    • Managers
    • Anyone needing an in-depth look at the various oil & gas contracts

*There are no perquisites for attendance.

Course Topics

  • Joint Operating Agreements (Definitions, Exhibits, Interests, Titles, Operator, Drilling & Development, Expenditures & Liability of Party, International Revenue Code Election, Claims & Lawsuits, Force Majeure, Notices, Term of Agreement, Compliance with Laws & Regulations, Impact of Horizontal Wells-revision of Model Forms)
  • Letter Agreements in lieu of Operating Agreements (Letter Agreements, Come Big or Stay Home Case)
  • Farmout Agreements (Drill to Earn, Produce to Earn, Reservation of Overriding Royalty Interests and Back-In)
  • Area of Mutual Interests Agreements (Geographical Area, Rights Subject to Agreement, Duration of AMI, Procedure for Implementing AMIs)
  • Acreage Swap Agreements
  • Gas Balancing Agreements (Balancing in Kind, Periodic Cash Balancing, Cash Balancing upon Reservation Depletion)

Tuition Fees: TBD

You Will Learn…

  • How to identify the appropriate part of the operating agreement when an issue arises
  • The common problems that occur involving joint operations
  • What provisions need to be revised as they relate to horizontal wells vs. vertical wells
  • How to negotiate and determine the appropriate parts and terms of a farmout agreement or term agreement
  • The pitfalls and determine areas of mutual interests that can arise through an Area of Mutual Interest (AMI) agreement
  • How to read a Gas Balancing Agreement and define when the balancing acts to your benefit or to your detriment

Accreditation

  • 1.25 CEUs (Continuing Education Units)
  • 12.5 PDHs (Professional Development Hours)
  • This course has been applied for American Association of Professional Landmen RLP and CPL Hours, Continuing Legal Education Hours and CPE Hours in many states.
  • State Accountancy Boards and State Bar Associations may also approve this course for CPEs and CLEs