In May of 2007, the Foundation sponsored a sold-out Institute on Oil and Gas Agreements: Joint Operations, in Santa Fe. Because of the overwhelming demand, we are running this course again in Houston. The purpose of this Special Institute is to focus on what is perhaps the most common contractual arrange ment among business partici - pants in the upstream oil and gas industry – the joint operating agreement. This Institute is a reprise of the fourth in a series of conferences designed to address the various agreements used in the oil and gas industry. The first three institutes covered exploration; production and marketing; and sales and financings – detailed manuals and audiotapes are available from the Foundation.
On the first day, presentations will focus on the basics of joint operations, defining the operator, property provisions, drilling and development operations, liabilities of the par ties, insurance and other risk management issues, tax planning for joint operations, and joint operations not
ade quately covered by the typical agreement. Day two presentations will cover marketing the production, enforcing the agree ment, coalbed methane properties, exhibits to the agreement, and joint operations on federal lands, followed by a one-hour ethics presentation. The final two-hour presentation will examine one of the most important exhibits attached to a joint operating agreement – the “Accounting Procedure.” The speakers will review its history, development, and purpose; the new COPAS 2005 Model Accounting Procedure; and the audit process.
Presentations and papers will be both practical and scholarly, and top-notch speakers from industry, private law firms, and academia have provided forms and/or checklists with their written materials.
Presentations will consider the various applicable legal principles, and papers will be thorough and well-researched, providing an invaluable 1,000+ page reference resource for years to come. We also will have a comprehensive appendix of joint operating agreement forms and exhibit forms as part of the course materials.
The practical focus of the presentations should provide newcomers with valuable insights into how joint operating agreements really work, and will also provide new ideas and a comprehensive update to those more experienced, while refreshing their understanding of the underlying concepts. This institute offers approximately 14 hours of CLE/CPL credit, including one ethics credit.
The Foundation has obtained great rates at the Hyatt – $119 per night, plus a small block of rooms at government rates. Spouses and guests of attendees are welcome at the hosted reception on Thursday evening. We hope you can join us in Houston for the very practical and educational networking opportunity.
Registration - Go to the RMMLF website www.rmmlf.org