Title Issues and Division Order Title Opinions, Calculations, and Division Orders
This class is a great opportunity for anyone who needs to better understand how title issues and curative matters impact Division Order Title Opinions, Calculations and Division Orders, but should be especially valuable to division order analysts, title attorneys, landmen, land techs, lease title analysts, paralegals, legal assistants, members of management, lenders and investors.
Students will understand that the purpose for title examination varies, but once the well is producing, the parties have entered the "production and distribution phase" and the Division Order Title Opinion and Division Orders must be prepared properly and the various interests calculated.
Students will understand details concerning initiating both and key considerations to get it right. Errors must be avoided, when possible, and the process of identifying uncured title or contractual problems must be understood.
Students will learn how and why operators and purchasers of production rely on these documents of ownership to be aware of the rights in and related to the minerals produced from a property for purposes of distribution of proceeds and how they reflect lessors' royalties, working interests, overriding royalties, production payments, net profits interests, and other lease burdens.
Students will examine how the Division Order Title Opinion usually reflects the interest of each owner in terms of "net revenue," using a base of 1.0 to represent the whole and how the Division Order Title Opinion is used to prepare the division orders which are circulated to the owners of mineral or leasehold interests reflected in the title opinion preliminary to and as authority for disbursement of proceeds of production.
Students will also examine and understand the methods and procedures used to identify ownership interests and establish title requirements, including reliance on voluntary curative documents, statutory curative statutes and quiet title actions, and examine options for dealing with post production deaths, gifts, conveyances and other matters and how pay decks are adjusted via the use of division orders and transfer letters.
Eligible for AAPL recertification credits.
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.
|G072132Q||Dec 3||8:30 am - 4:30 pm|
|Midland College PPDC Building|
|Registered: 5||7.0 Hours|