Model Agreements

What is a Model Agreement?

It is an agreement between two or more oil and gas companies for the purpose of development and production of oil and gas properties. The agreement defines the property, most commonly a "production facility", the relationship between the parties and the responsibilities assigned to the parties.

Typically, a Petroleum Joint Venture does not include joint exploration activities, nor does it include marketing activities.

Descriptions of Reports and Agreements


Draft #3 2017 Pad Site Sharing Agreement Now Available

We are pleased to advise you that the joint CAPL and PJVA materials associated with the third industry draft of the 2017 Pad Site Sharing Agreement are now available through this hyperlink to PJVA.

This document reflects a shared belief by the PJVA and CAPL that the only efficient and effective way to address the growing issue of shared well pads without any agreements in place is to create a precedent document that can be used as a starting point for the vast majority of pad sharing arrangements.

The task force was delighted with the comments received on Draft 2, and we sincerely thank you for this. The comments and the responses from the task force have been gathered into a matrix that is posted with Draft 3. Names of commenting parties have been removed. The matrix will be sent to all companies and individuals who contributed comments. Nearly all the comments were used to make the changes in Draft 3.

This package includes:

  1. Cover Letter
  2. Addendum - Usage of PSSA
  3. Draft # 3 Clean
  4. Draft # 3 Black-line
  5. Comments Matrix
  6. PJVA/PASC Slides - January 18, 2017
  7. PSSA Slides - June 2016, as updated July, 2017
  8. Shared Pad Site Four Year Ownership Example
  9. PASC Draft Accounting Guideline AG-19 for Accounting for Shared Pad Site Costs
  10. CAPL Negotiator Article (December 2014) on Assignment Procedure Effective and Binding Dates

You can obtain a facing page presentation of the text and annotations by printing the document PDF in a double-sided format.

The intention is to finalize the document in Q3 of 2017, so that it is available for the 2017-18 winter drilling season. We would appreciate your comments by October 1, 2017 so that the Committee is well positioned to be able to issue the final document in early fall. .


CAPL Property Transfer Procedure – suggested for smaller deals – PJVA your comments are welcome!

The 3rd industry draft of the 2017 CAPL Property Transfer Procedure is now available on the CAPL websiter20.rs6.net

This standardized purchase and sale document is intended to be used for low to modest value transactions that do not have any issues of significance. The document also offers a significant simplification opportunity for sales or swaps involving only undeveloped land without wells.

This package includes:

  1. an overview of the project scope and the major changes;
  2. a detailed matrix that outlines all material changes and their rationale; and
  3. the text and annotations.

You can obtain a facing page presentation of the text and annotations by printing the PDF's in a double sided format.

We would appreciate your comments by October 3, 2017, so that the committee is positioned to finalize the agreement.

If you have any comments on the draft please send them to Paul de Villenfagne (PJVA Liaison) at pjdeville@shaw.ca


Updates

At the beginning of each calendar year the PJVA Standing Committee will take any Errata's for the year past and incorporate them into a new version of the PJVA Agreements.

As members bring items or concerns to the PJVA Standing Committee they are discussed and if agreed we put the item or concern on the Errata page for other members to view.

  • Unconventional Resources Operating Agreement (UROA)

This is a proposed model Joint Operating Agreement being drafted by the Association of International Petroleum Negotiators (AIPN) to be used specifically for unconventional resource plays.

Click here to see a copy of the presentation given by Jay Todesco of Nexen Energy ULC and co-Chair of the UROA Drafting Committee.


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