SPEAKING

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In a time of exponential change in both the global economy and the oil and gas industry, it is imperative that mineral owners have a complete understanding of their mineral asset portfolio and its full value profile both today and tomorrow.

– Ben Holliday   

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FEATURED TOPIC

MAXIMIZE YOUR MINERAL WEALTH

In a time of exponential change in both the global economy and the oil and gas industry, it is imperative that mineral owners have a complete understanding of their mineral asset portfolio and its full value profile both today and tomorrow.

CUSTOM TOPICS

In addition to the suggested topics below, Massive Minerals Management can develop a custom curriculum covering any mineral or energy-specific topic that your organization may be facing. Whether a 30-minute session focused on a specific topic or an all-day retreat, Massive Minerals Management will develop a custom program to address your unique needs.

1. Introduction to Mineral Rights

A basic overview of the concept of private mineral rights in the United States. We review the various specific legal interests that are included within the idea of mineral rights, and how each benefits their owner. Can be tailored to a specific state.



2. Overview of an Oil and Gas Lease

This presentation walks the listener through the basics of an oil and gas lease between the operator and mineral owner. We cover the legal nature of the lease, the rights granted to the operator, the rights retained by the mineral owner, duration of the lease, and key issues that a mineral owner should consider before and after leasing.



3. Life Cycle of an Oil and Gas Project

This discussion traces the life cycle of an oil and gas development project from the time the prospect is generated by an oil and gas company, through leasing, drilling, production, and eventually plugging. We cover concepts such as basic geology, land titles, oil and gas leases, drilling and production operations, and end of life considerations for a well.



4. Introduction to Surface Use and Water Rights

This presentation covers the basics of surface and water rights, and then reviews issues relevant to an owner whose lands are being used for oil and gas operations, such as drilling sites, water use, easements, and surface reclamation.



5. Understanding The Mineral Portfolio

This discussion focuses on how a mineral owner can build a complete picture of their mineral asset holdings, which is necessary for effective management and monetization. We cover locating minerals on a map, determining the size and nature of the interests, identifying all producing wells, and building an inventory of interests and production history. We then discuss the various valuation methods that can be used to place an economic valuation on these holdings, as well as forecasting future production and cash flows.



INTRODUCTORY

1. Ensuring the Proper Payment of Royalties on Production

It is not uncommon for a mineral owner to have an interest in one or more wells on which they are not being paid, or interests that are being paid incorrectly by the operator. This presentation covers how to conduct an audit to ensure that you are in pay on all wells producing from your minerals, and how to ensure that the interests you are in pay on are correct.



2. How to Calculate Mineral Ownership Interests

This presentation provides an overview of land titles and title examination, and reviews how an oil and gas company determines and calculates mineral and royalty rights, as well as ascertaining rights to a share of production.



3. Things an Oil & Gas Lease May Not Cover – Implied Covenants in an Oil and Gas Lease

Aside from the express agreements in an oil and gas lease, the law has developed to impose certain obligations and liabilities on oil and gas operators. These include the duty to act as a reasonable operator, the duty to protect against drainage, and the duty to market oil and gas.



4. Division Orders – Agreements Prior to Payment

Prior to disbursing royalties, oil and gas companies typically require the mineral or royalty owner to sign a division order agreeing to their share of production. This presentation provides an overview of the division order as well as implications and key considerations for the mineral owner.



5. Surface and Water Use Issues for the Landowner Under Oil & Gas Development

This presentation takes a deeper focus on the surface and water use considerations prior to leasing, during development, and after operations have ceased. We discuss how to protect surface and water interests in an oil and gas lease, key issues that emerge during drilling and production, and what considerations the landowner should keep in mind when looking to develop his surface estate.



INTERMEDIATE

1. Operator’s Ability to Maintain Lease After Primary Term

Once an oil and gas lease’s primary term ends, the operator’s ability to maintain the lease depends on the level of production, as well as the requirements restricting the depths and lands that can be held. This presentation covers the doctrine of production in paying quantities, pooling, retained acreage clauses, and depth restrictions.



2. Overview of Gas Flaring Regulation

For many reasons, operators will elect to flare or vent natural gas as opposed to marketing the same for sale. Regulation of gas flaring and venting is likely to take on renewed significance. This presentation covers the mechanics and ‘why’ of flaring, and looks at present and upcoming regulations.



3. Texas Allocation Wells

Allocation wells are utilized to drill a well across property lines where an operator cannot pool the acreage or does not want to pool for a variety of reasons. Once controversial, these wells are now generally accepted practice in Texas. We review the basics of an allocation well, how interests are calculated, and concerns and considerations for the mineral owner.



4. Ensuring Proper Payment – Reviewing the Operator’s Ability to Deduct Costs from Royalty Payments

While a mineral owner’s share of production is generally considered ‘cost-free,’ the operator’s ability to deduct certain amounts for taxes and post-production transportation and refining is governed by the oil and gas lease. These post-production cost deductions can amount to as much as 25% of the royalties owned to mineral owners. This presentation covers mechanics and current law of cost-deductions.



5. Forecasting the Life of a Well

A well’s productive life is a key component of monetary returns for any interest owner. We review the various types of oil and gas wells, how time, location, hydrocarbon mix and geology impact lifespan, as well as the methods used to forecast the productive life of a well.



ADVANCED

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As the world changes, so do the demands on mineral owners and those asked to guide them. Decision-makers must be prepared to navigate an increasingly challenging landscape impacted by a constantly evolving technological, regulatory, and legal environment.

 

To guide the development of everyone from the first-time mineral owner to the long-established family office or professional advisor, Massive Minerals Management has prepared a series of professional development programs designed to deepen the attendee’s knowledge base in critical topics impacting mineral ownership.

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AVAILABLE TOPICS

  • Texas Online Resources - Texas General Land Office & Texas Railroad Commission

  • 10 Most Common Comments & Requirements in Oil & Gas Title Opinions

  • 2020 Mid-Year Texas Supreme Court Update

  • Adverse Possession

  • Bona Fide Purchaser (“BFP”) Status - Quit Claim Deeds (Texas Title Examination Standard 4.90)

  • Certified vs. Exemplified Probates

  • Commingling

  • Corporate Conveyances (Texas Title Examination Standards Ch. 6)

  • Cost - Free Royalty

  • Overview of the Curative Process

  • Division Orders 101

  • Doctrine of After Acquired Title

  • Easements

  • Escheat in Texas

  • Ethical Considerations for Title Examiners

  • Exceptions and Reservations 101

  • Fixed vs. Floating Royalty

  • Pooling ND v. TX v. OK

  • Overview of an Oil and Gas Title Opinion

  • Implied Covenants in an Oil & Gas Lease

  • Information Required to be Delivered to Lessor

  • Legal Descriptions and Platting

  • Marital Property in Texas

  • Notice Requirements & Unrecorded Agreements

  • Non-Participating Royalty Interests

  • Ohio Dormant Minerals Act

  • Oklahoma Indian Land Allotment

  • Online and Secondary Resources for the Land Professional

  • Over-conveyances & the Duhig Rule

  • Texas Passage of Title Upon Death

  • Perpetuating the Lease Beyond the Primary Term

  • Pour-Over Wills & Testamentary Trusts

  • Producing Depths in an Oil & Gas Lease

  • Validity of Property Descriptions

  • Voluntary Pooling, Allocation Wells and Production Sharing Agreements

  • Pugh Clause/Retained Acreage Clauses

  • Analyzing Retained Acreage Clauses

  • Maintaining the Lease by Virtue of a Shut-In Well

  • Exploring, Leasing and Maintaining State-Owned Minerals

  • Surface Use and Water Rights

  • Texas Statewide & Field Rules

  • Texas Oil & Gas Lease 101

  • Title from Sovereignty

  • Role of the Title Examiner and Marketable Title (Texas Title Examination Standards Chapters 1 & 2)

  • Top Leases

  • Trespass

  • Execution, Acknowledgment, and Recordation

  • Land Descriptions

  • Texas Mineral & Royalty Receiverships

  • Production in Paying Quantities

  • Accommodation Doctrine & Water law – Coyote Lake Ranch

  • Texas Relinquishment Act

  • 2017 Texas Case Law Update

  • 2018 Texas Case Law Update

  • 2020 Texas Case Law Update

  • Issues in Royalty Allocation

  • Force Majeure

  • Application of Force Majeure to Covid-19 and Commodity Price Collapse

  • Multiple Assignment of Wells – Amendments to Texas Statewide Rule 40

  • Oklahoma & Texas Regulatory Approaches to Maximizing Recovery: Oklahoma’s Extended Well Development Act & Texas’ Allocation Wells

  • Texas Mineral Interest Pooling Act Overview

  • Retained Acreage & Proration Units

  • Calculating NPRIs and Fractional Interests

  • Overview of North Dakota Title Standards

  • Gas Flaring in Texas

  • Key Considerations for Mineral Managers

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