PJVA BYO Lunch & Learn
Tuesday, March 26, 2019
333 – 7 Avenue SW
|Time:||11:45 am – 12:45 pm|
But please pre-register, as seating is limited.
Come early to network!
Click here to RSVP!
|Topic and Speaker:||
Special Edition EMS – Lunch & Learn style
Charging fees for Processing and Transportation – Land or JV?
What if you, as a JV professional, were approached by a company advising that for the purposes of reducing their administrative costs, that their joint venture agreements were going to be terminated and in place thereof, charges for things such as facility processing and transportation would fall to the land contracts? It’s one thing to terminate existing agreements but another to do so without establishing clear contractual terms to replace them.
As JV professionals, we know that a contract must be a mutual agreement between the parties and one party cannot unilaterally impose new terms with no way for the other party to accept them. Further, holes exist in the various CAPL agreements and it is for that reason (and others) that joint venture contracts and the joint venture industry were developed many decades ago. Land contracts such as JOAs cannot apply to multi-well facilities while serving different ownership groups, hence the need for individual service agreements when dealing with diverse working interests. In addition, key business terms such as billing and payment, product specifications, acceptance and delivery of production, allocations, priority, and failure to take in kind would be missing, as well as key provisions such as limitations, notices, audit rights, default and confidentiality. Omissions like this create uncertainty and only add risk.
As industry pressures mount to do more with less, please join us for a discussion on doing less, the right way.
PJVA would like to extend its sincere appreciation to Enerplus Corporation for their in-kind donation of space and equipment necessary for this industry Lunch & Learn.
If you have any ideas for EMS discussion topics or presenters, please contact PJVA Director:
We Need Hot Topics!If you have any ideas for EMS discussion topics or presenters, please contact PJVA Director:
Jonathan Cassetta: (403) 476-8142; firstname.lastname@example.org or Richard Kisinger: (403) 298-1298; email@example.com
We would like to thank all those people who help us make these sessions so successful - the presenters for their time and energy in putting together the presentation, and the attendees for their participation, enthusiasm and suggestions. We are always looking for more ideas, suggestions and people to help facilitate the sessions.