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| Fundamentals of the Leases and Title Ownerships | $450.00 | |||||||||
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Participants will learn the basics about land descriptions, estates in land, types of property ownership and how to read and understand oil and gas lease provisions for extracting important data from them. All who attend will analyze a new lease packet for a non-producing paid up lease and enter all necessary data into a lease data sheet appropriate for direct computer entry. Participants will learn what pieces of data must be updated when a non-producing lease becomes producing, and will learn the basic elements of the four most common contracts affecting the lease: JOA, assignment, farmout and unit agreement/designation of unit. Participants will leave the workshop having completely analyzed a non-producing, paid up lease and entered all required information into a lease data entry form. | ||||||||||
| Fundamentals for the Division Order Analyst | $450.00 | |||||||||
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All participants will gain a working knowledge of metes & bounds and rectangular survey system land descriptions, including platting and acreage calculations used in pooled units; acquire the analytical skill to recognize the types of estates in land and title ownerships affecting the division of interest; learn what the joint billing division of interest ("JIB deck") and later the revenue division of interest ("Revenue DOI") are, and where the information comes from to create each of them; learn how to calculate WI/NRI decimals and how to calculate royalty and overriding royalty decimals; learn how to calculate Oklahoma SB-168 Proportionate Production Interests (“PPI”) and to calculate each WI owner’s share of Total Unit Royalty (“TUR”) to be remitted to the Operator; learn to recognize the standard components of both the JIB deck and Revenue DOI and the general purpose each serves; create a JIB deck and Revenue DOI in class from examples of typical information provided; learn how to “inflate” DOI decimals and when that is sometimes necessary; learn what documentation generally is required to maintain the JIB deck and Revenue DOI when ownership transfers occur. A class training manual containing forms, flowcharts, charts, checklists and dictionary of land-related oil and gas terminology is provided to each registrant. | ||||||||||
| Fundamentals of Ownership Transfers | $275.00 | |||||||||
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This workshop for beginners will discuss and process each of the basic types of ownership transfers commonly encountered in today’s Division Order Department environment: probate court documents, affidavits of heirship, deeds (mineral, royalty, quitclaim, term), mergers and assignments (working interest and overriding royalty). Workshop class exercises will analyze examples of these transfers to walk each participant through the process necessary to correctly and successfully enact each transfer, from obtaining every piece of documentation most commonly required before changing records to issuing transfer orders or division orders to the new owners. Checklists, charts, flowcharts and oil and gas land glossary are provided in the class manual as helpful desk references for future use. | ||||||||||
