Oil and Gas Joint Operating and Farmout Agreements
Crafting Instruments That Address Modern Exploration and Production Challenges
Recording of a 90-minute CLE webinar/teleconference with Q&A
Conducted on Thursday, February 2, 2012
Recorded event now available
This CLE webinar will provide environmental and energy counsel with a review of key issues and challenges to consider when drafting and executing JOAs or Farmout Agreements. The panel will discuss terms of agreement, land description, lease provisions, risk allocations and financial responsibilities.
Description
Joint Operating Agreements (JOAs) and Farmout Agreements are essential instruments in the oil and gas industry. The agreements enable multiple parties to share the risk and expense as well as the benefits of projects that one party would be unable to complete on its own.
Though the AAPL 610 Model Form covers many of the important issues a JOA should contain, in order for the agreement to withstand judicial scrutiny, counsel must accurately complete and create pertinent additions to the form to address issues that arise in today’s exploration and production activities.
Farmout Agreements lack a standard form, and they must contemplate evolving exploration and production techniques. Counsel creating these complex and often far-reaching agreements must assess the goals of the two parties, identify key areas to address, and deal with risk management concerns.
Listen as our authoritative panel of energy attorneys examines the important elements that both Joint Operating and Farmout Agreements should address and how counsel can craft these instruments to enable the parties to control costs, reduce risks, and increase a project's potential for success.
Outline
- Overview of Joint Operating Agreements
- Accurate completion of AAPL 610 Model Form
- Additions to consider to the form to address modern oil and gas exploration and production
- Recent judicial interpretation of JOAs
- Overview of Farmout Agreements
- Basic agreement structure
- Key areas to address
- Recent judicial interpretation of Farmout Agreements
- Using JOAs and Farmout Agreements together
Benefits
The panel will review these and other key questions:
- What issues should be covered in a JOA in addition to the articles of AAPL 610 Model Form?
- What common omissions in a JOA create conflict and what is the best way to address them?
- What are the best ways to negotiate the subject matter, earning requirements, and interests assigned and received in a Farmout Agreement?
Faculty
Timothy Dowd,
Elias Books Brown & Nelson, Oklahoma City
His primary area of practice is oil and gas law, including the rendering of title opinions, litigation and drafting and negotiation of industry contracts. He has vast experience in oil and gas title examination, transactions and civil litigation representing oil and gas clients for over twenty-five years. His clients include international and independent oil and gas companies and individuals.
Phillip D. Barber,
Partner
Phillip D. Barber, P.C., Denver
He specializes in natural resources law and energy litigation. He was admitted to the Colorado Bar in 1979, and to practice before the U.S. Supreme Court in 1983. He has spoken on many topics concerning oil and gas law and litigation, and he has been the author of the Colorado Methods of Practice, Oil and Gas Chapters, since 2000.
Ordering
Online CLE - Audio Recording
Includes audio streaming of full program plus handouts (available 24 hours after live seminar).
CLE:
Pre-approved for participatory or non-traditional/alternate format credit in: CA, HI*, NY*, WV*.
Pre-approved for self-study credit in: AK, AZ, MO, MT, TX, VT, WA.
Upon request, also available in: CO, CT*, FL, GA, ID, KY, LA*, ME, NC, ND, NE, NH, NM, NV, OR*, SC, TN, UT, WI*, WY. If you are applying for credit in one of these states, make sure to select those states when placing your order.
(*Indicates that Strafford must report attendance.)
Online CLE Audio $297.00
Available 24 hours after the live event
Recorded Event
Includes full event recording plus handouts (available after live seminar).
CLE: Pre-approved for self-study credit in: AK, AZ, CA, CT, HI, MO, MT, NY, TX, VT, WA, WV. Upon request, self-study credit is also available in: CO, FL, GA, ID, KY, ME, ND, NE, NH, NM, NV, OR, UT, WI, WY. If you are applying for self-study credit in one of these states, contact Strafford CLE at 1-800-926-7926 ext. 35 or CLE@straffordpub.com.
Webinar Download (Slide Presentation with Audio) $297.00
Available three business days after the live event
DVD (Slide Presentation with Audio) $297.00
plus $9.45 S&H
Available ten business days after the live event
MP3 Download (Audio with Slide PDFs) $297.00
Available 24 hours after the live event
CD (Audio with Slide PDFs) $297.00
plus $9.45 S&H
Available ten business days after the live event
CLE on Live Webinar
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Program Materials
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Program Materials
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CLE Credit
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Customer Reviews
This was an excellent teleconference; one of the best I have listened to. The speakers were all very knowledgeable on the subject, but importantly, they were able to present in a very direct, easy to listen to and understand style.
Jose E Guzman, Jr.
Nossaman
Very informative — one of the best run programs in a plethora of on-line offerings.
Jeff Michelman
Stinson Morrison Hecker
The program was very to the point — no fluff.
Brian McNamara
Wright Lindsey & Jennings
All of the speakers were very informative, and being able to ask questions was very helpful.
Larry V. Smith
Jackson Walker
The speakers were well versed and kept my attention throughout the program.
Natalie Kossak
Independent Fiduciary Services
Environmental Law Advisory Board
Partner
Allen Matkins
Partner
Loeb & Loeb
Of Counsel
Stoel Rives
Partner
Shipman & Goodwin
Partner
Akin Gump Strauss Hauer & Feld
Partner
Arnold & Porter
Partner
Gibson Dunn & Crutcher
Reed D. Rubinstein
Senior Counsel
U.S. Chamber of Commerce
Partner
Cravath Swaine & Moore
Special Counsel
Stroock & Stroock & Lavan
Partner
Bryan Cave
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