TCU Energy Institute/PPDC - Royalty Owner Program Class 2 - Leasing the Mineral Estate
Negotiating a Good Lease - The lease agreement is the most important document that the mineral owner (lessor) will sign since it specifies the actual terms and conditions that will govern the relationship with the lessee. We will review the terms of the lease, what is adverse to the Lessor and what clauses the Lessor wants in a lease agreement. We will review the rights and responsibilities of the lessor and the lessee, who is entitled by law to sign a lease, legal requirements of a valid lease, implied covenants of the lease, clauses & terms that are favorable to lessees, surface agreements, water rights, pooling, and how to negotiate a good lease agreement. We will learn what the lessor must know to communicate with the lessee. A "level playing field" makes it much easier and beneficial for the lessor.
The Unleased Mineral Estate -Various alternatives are reviewed in dealing with unleased minerals. The unleased mineral estate, frequently a non-producing asset, can be turned into an income producer.
8:00 - 8:30
Breakfast, Welcome, Logistics, and Introduction of Instructor
8:30 - 9:45
Topic: The Importance of the Lease Document to Protect the Mineral Owner. What constitutes a "good" lease for the mineral owner?
9:45 - 9:59
10:00 - 11:59
Topic: Elements of a Good Lease. The clauses the Lessor wants including the cost free royalty clause, post production expenses, shut in royalty, Pugh clauses, depth clauses, pooling clauses, surface agreements, and implied covenants.
12:00 - 12:59
1:00 - 2:44
Topic: Negotiating a Good Lease utilizing and including the legal requirements noted above. What to look for in hiring an attorney or advisor to assist with the negotiation of the lease.
2:45 - 2:59
3:00 - 4:30
Topic: Post-Lease Administration. Review the law and what the payor is required to include in production payments. The Unleased Mineral Estate and making it a profitable asset.
George H. Wilson, II is founder and principal of Wilson Consulting, a privately-held business enterprise devoted to the education of and issues concerning independent royalty owners. He advises clients on all aspects of minerals management and negotiations and is recognized in Texas, Oklahoma and Colorado for his work as an advocate for fair and equitable leasing practices. George serves as the TCU Energy Institute Legal Scholar in Minerals Management and teaches regularly in Royalty Owner Programs.
George received his Doctorate of Jurisprudence Degree from the University of Tulsa and began his private law practice in Oklahoma in the early 1970s. He was admitted to the Federal U.S. District Court for the Western District of Oklahoma and to the 10th Circuit of the United States Court of Appeals during his time there. In 1981, he was appointed to the office of United States Magistrate in the Western District of Oklahoma and became a City Judge in 1991. George's law practice has spanned 30 years and throughout his career he has provided leadership and counsel in many aspects of law related to the oil and gas industry.
An active leader in the National Association of Royalty Owners (NARO), George has served on the NARO Board of Directors, was Vice-President of the national organization, and led the NARO Ethics Committee. He has been named to the Board of Directors of both Oklahoma NARO and NARO Texas and is a frequent contributor to the organization's publication, ROAR.
A Certified Minerals Manager, George is a frequent speaker in cities across the U.S. on topics of importance to royalty owners. Known for his high energy and entertaining style, George educates land owners in all aspects of the management and leasing process including "Techniques of Minerals Management," "Leasing: How to Mine the Underground," "Leasing Clauses and Other Protection," "Dealing and Negotiating with the Landman," "Surface Damages: Know Your Rights," and more.
George lives in Dallas, TX, where he maintains his consulting and management practice.
|G064131Q||Oct 24||8:30 am - 4:30 pm|
|ATC Blankinship Lecture Hall|
|Registered: 1||7.0 Hours|