While it’s hard to keep up with all the industry news and training while also doing our job — and navigating work and life in our COVID world, I set aside time each week to keep a pulse on the industry. It ensures my work as an educator, speaker and expert stays relevant and valuable.
Recent Article Recap:
Lease Maintenance Analysis & Overproduction Considerations
There is a great article in this month’s Landman Magazine written by attorney Terry Hogwood. I liked it because it is so topical. It is titled: Lease Maintenance Analysis During the 2020 Overproduction of Oil in Texas.
Hogwood highlights several clauses in an oil and gas lease that might help an oil and gas company weather the storm of overproduction of oil. The lease clauses emphasized in the article are:
- Habendum Clause – Provision in an oil and gas lease that sets the terms for lease expiration.
- Shut-in Royalty Clause – Provision in an oil and gas lease that allows for temporary payments when well is shut in due to lack of market or if waiting on a pipeline.
- Savings Clause – Provision in an oil and gas lease that allows the lessee to commence additional drilling or reworking operations to “save” the lease should production cease.
- Force Majeur Clause – Provision in an oil and gas lease that prevents a lease from expiring if there is a unforeseeable cause.
Thank you to Mr. Hogwood for such a great article and to the American Association of Professional Landmen for a great magazine.
The magazine and content is limited to AAPL members with a login; I urge each of you to join the AAPL – the magazine alone is worth the $100/year membership fee!
Land Lease Training Begins Dec. 1:
Professional Land Management & Division Order
Module 3 of our Midland College Certificate Programs will begin on Tuesday, December 1. Please note that:
- Courses are remote, online and self-paced with engaging videos, interactive exercises and real-world examples.
- Each module is one month in length; approximately 12 hours per module.
- The course fee per module is $612.50 for Texas residents and $637.50 for those outside Texas.
- Upon completion of the 6 modules, you receive a PLM or DO Certificate from Midland College.
I invite you to learn more about the programs and register today.