:: Training Courses
Land Management: Oil and Gas Law for the Petroleum Industry
1.4 CEUs
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To compete—and excel—in this industry, one must understand the property interests that are commonly created in oil and gas and the land from which they are produced. This course begins with a review of the landowner’s interests in oil and gas, the nature and characteristics of mineral interests, the rights and duties between surface and mineral owners, the creation and duration of mineral leases, and different kinds of royalty and mineral interests. Students will learn about the law governing oil and gas ownership, development, marketing, and transfer. The oil and gas industry uses a number of unique contractual arrangements to explore for, develop, produce, and market oil and gas. This course includes an overview of key clauses of oil and gas leases and conveyances, along with an examination of the law governing farmout agreements, agreements for the sale and exchange of producing properties, operating agreements, drilling contracts, production sales contracts, the law governing oil and gas development on federal public lands, pooling agreements, and unitization agreements. State oil and gas conservation issues are discussed in a historical context to understand the evolution of the “rule of capture” and “doctrine of correlative rights” and how this led to regulation of drilling and production, as well as the importance of understanding spacing rules and pooling and unitization. Finally, time is devoted to environmental laws that apply to the exploration, development, and production of oil and gas. Cases and practical exercises are included.
Length: 2 days
Dates
Cost: $575.00 ($525.00 in Houston)
