This class focuses on a methodical approach in laying the foundational principles for oil and gas land management.
Major Topics Covered
Understanding property and mineral ownership and the transferring of title is critical for all those working in petroleum land management. This course takes an in-depth and thorough look at the subject.
Major Topics Covered
Petroleum land management begins in a courthouse where an examination of mineral ownership takes place. It then moves to the next stage – the acquisition of oil and gas leases. From there, state regulatory commissions, other oil and gas companies, the Bureau of Land Management and/or surface owners become involved in the process. The formation of a unit is created, a title opinion is rendered, title curative must be done, and the well is drilled and hopefully competed as producing in commercial quantities. Finally, proper payment of revenue must be made to all parties that are entitled to receive such payments. From start to finish, many steps must take place.
This class is designed to help the student understand the process and take each step in proper order.
Major Topics Covered:
An oil or gas well may produce millions of dollars in revenue and have scores of owners entitled to receive their portion of the revenue. Understanding the principles of calculating these oil and gas interests is a vital component for the land management professional. Each calculation may be tied to key clauses in the oil and gas lease or language associated with other agreements.
Major Topics Covered
The oil and gas industry uses a number of unique contractual arrangements to explore for, develop, produce, and market oil and gas. This course includes a good overview of key clauses of the oil and gas lease and examines the laws governing farmouts, operating agreements, unit operating agreements, joint venture agreements, area of mutual interest agreements, seismic agreements, pooling and unitization agreements. This interactive course not only takes a detailed look at these contracts but allow the students an opportunity to negotiate and draft several of the contracts that are vital to the industry.
Major Topics Covered:
