Entrance sponsored the 2012 PDI Royalty Conference in Dallas, Texas in October. With royalty compliance growing on the minds of land owners and oil companies, and lease provisions becoming ever more complicated, PDI’s royalty conference brings together stakeholders from all sides of the conversation. At Entrance, we assist companies by reducing the chance of litigation. We gather the most accurate and up to date information possible, and then create workflows that help maintain compliance.
We enjoyed getting the opportunity to talk to stakeholders in the energy industry, in addition to a number of in-depth sessions covering issues important to them.
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Sessions of interest:
- The Landman Cometh – What Everybody Should Know About An Oil and Gas Lease
Those with the least knowledge often lose. This talk will address how to get help drafting an oil and gas lease that protects the royalty owner.
- Unique Royalty Computation Issues Related to Production From the Shales
Unique leases and land situations, legislative and regulatory guidelines, and changing market environments present challenges to the revenue accounting process. This presentation will focus on current revenue and royalty issues facing producers in the shales.
- Recent Litigation Affecting Royalty Determination and Payment
This session will cover lessons learned in litigation and discuss appropriate business practices that may be implemented to minimize future litigation risk.
- Recent Changes in Producing State Compliance Reporting Affecting Royalty Payments
This presentation will cover 2012 state legislation, issues and developments in compliance reporting.
- Royalty Audits – Information Needs and Best Practices
This session will focus on understanding the lease, royalty reporting and related computations, and how oil and gas sales information flows through company systems to understand what types of reports can be requested that would be useful to respond to audit questions, and on location ouside sources of information.
- Managing Interaction Among Surface Owners, Royalty Owners and Producers
This session will focus on managing interaction among surface owners, royalty owners and producers, including some of the disputes that arise during development.
- Preventing Royalty Disputes – How To Ensure Accurate Royalty Determination and Payment
This session will focus on methods for identifying potential royalty calculation errors, manipulations and common issues to avoid. In addition the presentation will provide insights into the appropriate measures in areas such as mergers and acquisitions.
From the conference organizers:
“This conference is recognized by the oil and gas industry, the legal profession, governmental agencies and the accounting profession as the best place to obtain information about rules, regulations, court decisions, activities of various organizations and current practices and developments that assure participants an up-to-date understanding of royalty determination and payment. Leaders gather to make available to participants their wealth of knowledge resulting from their years of education, experience and personal contacts. This conference presents a unique opportunity for anyone interested in the determination, payment or receipt of royalties to expand his or her knowledge and to hone skills. The variety of sessions assures that each hour of the conference provides a valuable learning experience. Thanks to all who attended the 2011 Conference- we hope to see you again in 2012.
Attendees at this year’s conference will gain the latest information and knowledge regarding royalty payments. From sessions on litigation affecting royalty payment and determination to Extractive Industries Transparency Initiative Update, this is a must-attend for professionals working with royalties.”