Calculating Oil and Gas Interests / Instructor Dr. Patrick Fitzgerald
(PTRT1000)

This class is a great one for landmen, land techs, lease title analysts, division order analysts, attorneys, paralegals and legal assistants, members of management, lenders, royalty owners, and investors. This class will also be beneficial to anyone who needs to understand how to calculate and verify divisions of interest and the impact of key lease clauses; such as, the Royalty, Pooling, and Proportionate Reduction clauses.


This course is intended to equip Land Professionals with critical skills for calculating Working Interests, Net Revenue Interests and other interests found in leases, assignments, operating agreements and associated documents. It will begin with simple examples and progress towards complex examples, teaching the fundamental calculations for Royalties, ORRIs, Net Revenue Interests, and Working Interests.


After attending this workshop, students will better understand the fundamental progressions and calculations of WI & NRI as an un-leased mineral interest becomes leased and progresses to become part of a producing tract, oil unit, gas unit, and field-wide unit. Students will learn the consequences of changing WI & NRI for Leases, Assignments, Unitizations, Farmout BPO/APO scenarios and JOA Non-Consent Penalties. Students will better understand the role of convertible and terminating interests, e.g. when a Farmor's ORRI is converted to a partial WI at "payout" and the impact on the NRI for Farmor and Farmee or when a non-operator goes "non-consent" when they have signed a JOA and do not approve an AFE and enter the "penalty phase."

Dr. Patrick W. Fitzgerald

Ph.D., ED.D., J.D.

Fitzgerald & Associates-Attorneys at Law

Fitzgerald Economic and Business Consulting, LLC

Distinguished  Visiting Professor- University of Denver

 

Dr. Patrick W. Fitzgerald Ph.D., ED.D., J.D. 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 Professor in Energy Management and Petroleum Land Practices in the Daniels College of Business at the University of Denver where he teaches graduate courses in various areas related to oil and gas as well as over 50 different courses dealing with all areas of energy land management, oil and gas tax, energy finance and environmental and water law. He teaches finance and oil and gas accounting in the graduate MBA program at Oklahoma Baptist University along with multiple short courses in the Energy Land Management Certificate Program. He recently completed appointments as is 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 has served as a Distinguished Scholar and Expert with the Energy Institute and taught  various land management courses for the University of Texas at Austin and was an Affiliated Scholar in the Center for Global Energy, International Arbitration and Environmental Law at The University of Texas School of Law. He has taught 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 "Understanding and Negotiating  Farmout Agreements"  published by the American Association of Petroleum Landmen.

 

G187164Q Aug 23 8:30 am - 4:30 pm
Wed  $350.00
($375.00 out-of-state)
PPDC Building, 105 W. Illinois, Midland, TX
Registered: 2 7.0 Hours


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and associate and baccalaureate degrees. Contact the Commission on Colleges at 1866 Southern Lane, Decatur, Georgia 30033-4097
or call 404-679-4501 for questions about the status of Midland College.

Midland College is an Equal Opportunity Employer/Educator

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