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NADOA is pleased to announce the rescheduled 44th Annual Institute!
Institute will be held November 8-10, 2017 at Lost Pines Resort in Bastrop, TX. If you were previously registered to attend in September, you DO NOT need to register again for November. However, registration for the November Institute is open for new attendees. If you were not able to attend in September, please join us in November. Register online and pay tuition at www.nadoa.org Registration: Member $625.00 Non-Member $725.00 The hotel link is now available. Click on the link below or go to www.nadoa.org to register for your hotel room. All reservations for September were cancelled. You MUST reserve your room for the November dates. All hotel accommodations are the responsibility of the registrant. Hotel Reservations:
due to speakers who are not able to present in November. The new class schedule will be available on the NADOA website once presentations are finalized. We are now offering a 4-hour review of Part 3 of the CDOA exam on Wednesday taught by Judy Moreland. Judy will also be available during Institute to answer questions about Parts 1 and 2 of the test. “How to Study for the CDOA” will not be offered on Wednesday. Judy’s class will be instrumental in helping you pass Part 3 of the exam. If you registered for September and are unable to attend Institute in November, please contact Chris Tucker at [email protected] for a refund. If possible, please transfer your registration to a co-worker. See you at Lost Pines in November! Your 2017 Institute Committee and 2017 NADOA Board The format will be a 4-person scramble Place: Lost Pines Resort Course Date: November 8, 2017 Time: 12:30 pm Shotgun Start Registration: Starting at 11:00 am in front of the club house Entry Fee: $85 per player for NADOA Members and $105 for non-members Clubs will be available for rental at the course for $70+tax (paid at club when you arrive) Register at: http://www.nadoa.org NADOA Golf Outing:
https://aws.passkey.com/go/ NADOA17AnnualInstitute Room rate for Institute attendees: $195/night plus taxes Hotel registration deadline: October 20, 2017
Classes will be held Wednesday, Thursday and Friday. Minor changes may be made to the class schedule
NADOA N a t i o n a l A s s o c i a t i o n o f D i v i s i o n O r d e r A n a l y s t s G R O W T H T H R O U G H E D U C T I O N
Volume MMXVII • No 3
www.NADOA.org
Contents Feature
NADOA 2017 Officers President Sandi Rupprecht
Articles
In This Legislative Updates Oklahoma....................................................................................14 Wyoming......................................................................................14 Texas............................................................................................15 Shale Development Impacts on Texas............................................16 Drinking Water Unharmed by Drilling........................................17 Fixed-Rate Post-Production Deduction Upheld. ......................18 NPRI Owners Need Not Consent to Pool..................................18 Post-Production Expenses Allowable on Flat-Rate Leases. .......20 Stone Energy Bankruptcy: Lessons for the JOA.......................21 Texas Anti-Gas Lawsuit Barred by Statute of Limitations.................19 Colorado COGCC and Governor Respond to Fatal Explosion................20 Unclaimed California....................................................................................23 Indiana........................................................................................24 Maine...........................................................................................24 New Jersey....................................................................................25 North Dakota..............................................................................26 President’s Corner. ................................................................1 NADOA Tech update.............................................................2 NADOA 2016 Audit and Profit & Loss.................................3 Institute Thank You Notes.....................................................4 Certification..........................................................................8 Counterpart Connection........................................................9 New Members......................................................................13 2017 Institute Committee....................................................28 2017 NADOA Board/Committee Chairs..............................29 Calendar of Events. .............................................................30 Legal Updates West Virginia Issue
1st Vice President Cheryl Hampton 2nd Vice Presiden t Jason Lucas Treasurer Michele Lawton
Corresponding Secretary Luanne Johnson, CDOA Recording Secretary Stephanie Moore, CDOA
The NADOA News Magazine is a quarterly publication of the National Association of Division
Order Analysts PO Box 44009 Denver CO 80201
Subscription: By membership to NADOA, at $75.00 per year.
News Magazine Editor Rona L. Erickson, CDOA Kaiser-Francis Oil Company [email protected] 918.491.4319 Associate Editor Cheryl Hampton [email protected]
All rights reserved. No part of this publication may be reproduced/copied without written permission. Editorial disclaimer: The contents of this newsletter are intended for member use only and any other use without permission from the NADOA Board of Directors is strictly prohibited.Articles published herein represent the view of the authors; publication neither implies approval of the opinions expressed nor accuracy of the facts stated and NADOA accepts no liability for misprints.
President’s
Corner
Sandi Rupprecht 2017 NADOA President
Our thoughts and prayers are still with those of you who have suffered hardship from the wind and flooding caused by the hurricane. Please let us know if you have needs that our membership might be able to help you with.
My mentor and former boss, Vicky Dolven, shared an article with our former company, Barrett Resources, many years ago that I believe is still relevant and appropriate today. I am sharing it with you this quarter with her permission.
“A Tribute to an Extremely Hard-Working, Little Understood and Sometimes Under-Appreciated Group – The Division Order Analyst Group”
Some of the qualifications to be a member of this group are: • Having the patience of a saint • Possessing the equivalent of a doctorate in public/human relations in order to be able to sympathize, empathize and just “be there” to listen (You would not believe the extremely personal outpourings they encounter) • Compassion verging on that of Mother Theresa • An unequaled desire to assist owners (even when the owners are not that pleasant) • A huge capacity for dealing with stress as a result of many factors including an immense workload, verbal assaults by land owners and transfers to Revenue Accounting that no matter how well thought out seem to go awry! • An ability to take in stride, in their very busy day, numerous phone calls from owners demanding explanations while damning the procedures, policies and decisions over which the analyst has no control • The ability to interact with and understand information provided by/and or to geology, production, marketing, land men and management • A sense of humor, camaraderie and cooperation • A very strong work ethic and… • Ethical standards that at times would more easily be abandoned. They may not be the ones who discover a new field that sets financial analysts in a tailspin or the ones to design a new drilling technique. In addition to the above, what they do contribute is daily communication with owners which may be the only ongoing contact mineral owners have with the company. Long after geology has decided where to drill, the landmen have taken the leases and engineering has de- termined the best method to use in drilling, the DO Analyst performs maintenance on the well ownership and interacts with the owners in every operated or take-in-kind well that is drilled and produces. Their response to owners will have a significant impact on future lease negotiations, consent to move rigs onto properties and other areas where “goodwill” counts very much. DO Analysts manage transfers from deaths, divorces, marriages, trusts being created or disbursed, mergers, acquisitions and divestitures. They possess a working knowledge and understanding of the numerous legal documents required to effect these changes as well as a knowledge of the individual state and federal statutes that are essential to their work. Their responsibilities span the entire life of the well as long as the company owns it. In case it still needs to be said, I am extremely proud of these employees and if you didn’t know or appreciate their contribution you should now have a new appreciation for what the Division Order Group does for the company. To you who are Division Order Analysts, a ‘tip of my hat” and sincere appreciation for your great devotion, determination, loyalty, patience and hard work. You are the BEST! Since Vicky wrote this article, we now also monitor and determine escheat and unclaimed property filings and we are called upon to ana- lyze and determine lease deduction provisions for revenue distribution. Both of these additional duties have a significant impact on the bottom line of our company financials. As most of you know, due to the effects and aftermath of Hurricane Harvey we made the decision to postpone the Institute. I am happy to say we have rescheduled it in the hope that this new date will accommodate everyone’s schedule and maybe some of you who could not come in September can now make it in November. We are welcoming new registrations and the hotel reservation link will be open until October 20. Look for the November Institute fact sheet in this edition for more dates and reminders about the Institute.
G r o w t h T h r o u g h E d u c a t i o n - J u l y / A u g u s t / S e p t e m b e r 2 0 1 7 1
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