Joint Operating Agreements and Their Successful Use After the Producing Test Well
This is an ideal class for anyone who needs to understand the Joint Operating Agreement and its role after the exploration phase and on in to the exploitation and further development phases. It should be especially valuable to landmen, land techs, lease title analysts, division order analysts, attorneys, paralegals, legal assistants, members of management, lenders and investors
Students will learn that once the test well is capable of producing in paying quantities, at least the first unit may be held by production for many years and now that all the excitement of the exploration is over, the parties must work together to keep the leases alive and hopefully continue to develop within the limitations of the contract area.
Students will learn about issues that, if better understood, will lead to wiser decisions regarding choice and removal of operators and expectations regarding important matters for both operators and non-operators including operating agreement detailed provisions concerning the drilling of a test well, title issues, the drilling of additional wells, subsequent operations, AFEs and Non-Consent Penalties, sharing of expenses and accounting methods, authority of the operator, restrictions upon the operator and the relationship between operator and non-operators.
Students will learn about topics not included in the non-modified JOA, including the following issues: Agency, Independent Contractor, Acting in Good Faith, Fiduciary Status, Standard of Conduct, Exculpatory Clauses, AMIs and the impact on Acquisition, Maintenance or Transfer of Interests, Dispute Resolution, Limitation on Well Proposals, Notice Regarding Delay Rentals, Shut-In Payments and Minimum Royalties and Pipelines and /or Gathering Lines.
Dr. Patrick Fitzgerald, Ph.D., Ed.D., J.D.
Dr. Patrick Fitzgerald is Senior Partner in the law firm Fitzgerald & Associates with offices in Dallas and Oklahoma City where his practice includes various areas of law related to the oil and gas industry. He is "of counsel" with a Denver law firm specializing in Oil and Gas Law. Concurrently, he is a Distinguished Visiting Industry Expert in Energy Management and Petroleum Land Practices in the Daniels College of Business at the University of Denver. He is also a Visiting Scholar in Finance in the Price College of Business at the University of Oklahoma and a Lecturer in Energy Finance with the University of Colorado Denver. At Texas Christian University, he is a Distinguished Scholar and Expert with the Energy Institute. He teaches various land management courses for the University of Texas at Austin and is an Affiliated Scholar in the Center for Global Energy, International Arbitration and Environmental Law at The University of Texas School of Law. He also teaches for the McGuire Energy Institute in the Cox School of Business of Southern Methodist University and for the American Association of Petroleum Landmen. Dr. Fitzgerald is the author of several soon to be published "must have" texts soon to be published by the American Association of Petroleum Landmen (AAPL) where Fitzgerald is a regular contributor to Landman.
|G070132Q||Dec 4||8:30 am - 4:30 pm|
|Midland College PPDC Building|
|Registered: 0||7.0 Hours|