JVViews: January 2015 Issue
Editor's Note
Education Report
PJVA/CAPL Pad Sharing Agreement Task Force
Early Morning Sessions
January Luncheon: Time to Shape Up - Financially!
Task Forces Update - January 2015
eStudies and Web Based Learning
JV Rep Tool + Role Opportunities
Looking for a New Opportunity?
PJVA Linkedin Group
Editor's Note
HAPPY NEW YEAR everyone!
Welcome to 2015 – a brand new year, a brand new start and brand new opportunities…should you choose to create and pursue them. Here are some thoughts on goal setting and “seizing the day”.
Setting goals, whether personal or professional, is often a difficult skill set for people to develop. As many of you already know, studies show that physically writing down a goal makes it more real and tangible to the goal setter. When setting goals, following the “SMART” guidelines will also help achieve success.
- Specific: The goal should be clear and explicit. State exactly what do you want to achieve (who, what, where, why).
- Measurable: The goal needs to be measurable. How will you track your progress and evaluate the extent to which the goal has been met?
- Attainable: The goal should be achievable but challenging. Is it set high enough to be motivating or too low to be easy and meaningless?
- Relevant: The goal should be relevant for you and/or your company and aligned with where you want to go. How does the goal tie in to your key responsibilities and/or personal objectives?
- Timely: The goal must have a time limit, either a date or an elapsed time. “By when” do you want to achieve your goal? The time frame must be aggressive yet realistic.
Once the goal is clearly defined, create an Action Plan. Write down exactly what needs to be done and by when to accomplish your goal. Break it down into smaller, more definable goals if necessary. Stop and review your progress often – is the Action Plan working or is there something that needs to change? Reward yourself along the way for the small steps achieved and remember how good it will feel when your goal is realized!
Don't wait to start tomorrow or next week – start your goal setting today. And here are a some thoughts to ponder during the process…
“Tomorrow is the first blank page of a 365-page book. Write a good one.” – Brad Paisley
“Make New Year's goals. Dig within, and discover what you would like to have happen in your life this year. This helps you do your part. It is an affirmation that you're interested in fully living life in the year to come.” – Melody Beattie
A new year is on the way and the possibilities are endless. We at the PJVA wish you all success in the coming year.
Kent Black
Trilogy Energy
Newsletter/Website Director 2014/15
Education Report
AGAIN…?
…It never ends!
With the New Year, brings new changes to the Education Portfolio! As we continue to invest in our joint venture industry with our models and learning tools, we encourage new ideas and strive for excellence. Excellence cannot be achieved by remaining static, so we’re being creative, focused on continued change, and driving results through the energy of many volunteers!
The PJVA Education portfolio is currently in the process of making additional improvements to its on-line course offerings, with the addition of instructional videos to be included as part of the curriculum. The instructional videos will enhance the PJVA programs and empower learners with specialized content meant to complement the materials and challenge the learner more effectively. The instructional videos will be developed and implemented throughout the year.
In addition, we are hard at work reviewing the content of the PJVA course material, both to update and provide clarity, where needed.
New Course!
An Oil and Gas Facilities course is being developed for non-engineers. This will assist virtually all JV professionals in understanding the workings of the various facilities and field operations used in our industry today. We expect this course to be finalized in 2015.
None of the efforts addressed above could be done without the collaboration of volunteers. Our review is an ongoing annual effort by a large number of key industry volunteers managed under PJVA’s Education Portfolio Director, Tracey Moore-Lewis (Enerplus). In that regard, PJVA wishes to highlight the following key volunteers working, often long hours, to improve your knowledge:
Lorie Caron - EnCana (Administration Coordinator)
Robyn Lewis - Crescent Point Energy
Shannon Colle - Apache Canada
Gloria Chase - ConocoPhillips
Andy Gale - Gale Consulting (Joint Venture Accounting)
Sarah Johnson - Lightstream Resources
Steffany Colvinns - Vermillion (Analyst 1 Coordinator)
Paul O’Gorman - Independent
Megan McDonald - Husky Energy
Heather Telasky - Independent
Catherine Scully - Independent & Peter Mitchelmore - Enerplus (Agreements Coordinators)
Randy Tomilson - Consultant (Analyst 2 Coordinator)
Rein Evelein - Jupiter (Facilities Course Coordinator)
Teresa Waddington - Shell Canada
Pat Osachuk - EnCana Corp
Roger Henault - EnCana Corp
Claire Basinger - Crescent Point (Exam Coordinator) - New Position!
Lee Wahl (PJVA President), Grant Feddema (Lightstream), Marcel Savoie (Cenovus), Ashley Weldon (BDP), and other PJVA Directors, provide ongoing support to the Education Committee.
Exams
After many comments from Industry, PJVA has decided to return to written final exams for its courses held through Mount Royal University; rather than an on-line multiple choice option as is currently used. This will provide the learner with a goal to want to learn and absorb both the materials and the ever-changing environment of joint ventures.
Long-Term Goals?
As mentioned previously, PJVA is working toward developing a program to complement a four-year degree, with associated JV Minor. In addition, we are considering developing a P.JV. designation program with associated examination for qualified individuals. These items are on our five year plan and are a work-in-progress.
PJVA wishes to thank everyone for their involvement in this Education Committee.
PJVA/CAPL Pad Sharing Agreement Task Force
Industry is drilling increasingly from shared well pads where wells or facilities are not held in common interests. This is primarily done to mitigate the environmental footprint and to optimize operating efficiencies for construction costs and shared infrastructure. Shared infrastructure may include the lease, access road, pipeline, and may also include separators, tanks, pumps, compressors, etc. Many well pads serving different ownership wells already exist with no governing agreement in place to address the wide range of issues inherent in the specific pad sharing scenario such as: single site operator, revising shared pad ownership to mirror changes in well ownership, permitted use, expansions, liability, abandonment of the site, and potential constraints on independent operations governed by the Joint Operating Agreements associated with the individual wells.
An industry group was created in late spring, 2013 to discuss our experiences and to explore opportunities to collaborate on approaches to address this emerging issue. The working group concluded that the best way to address the issue was to seek an “industry solution to an industry problem” through a joint PJVA-CAPL Task Force. The creation of a joint task force was endorsed by the PJVA and CAPL boards and the project was kicked off in late 2014. The goal of the task force is to create an industry model pad sharing agreement to govern the shared pad facilities and the interactions between the pad sharing agreement and the mineral land Joint Operating Agreements that govern the wells.
The task force consists of 20 members representing fourteen producing companies and includes PJVA and CAPL members along with a surface land representative, legal representatives and representatives from CAPLA and PASC.
- PJVA – Keith Brereton (Chevron), Michael Bruch (Chairman/ConocoPhillips), Jonathan Cassetta (Cenovus), Steffany Colvinns (Vermilion), Lorraine Grant (ConocoPhillips), Janet McCarthy (Baytex), Tracey Moore-Lewis (Enerplus), Kristina Rauscher (Apache), Melissa Stockes (CNRL), Beth Swift-Hill (Westbrick)
- CAPL- Jeff Brewer (Shell), Kyle Huntley (Devon), Kim Hurtig (Nexen), Jim MacLean (Talisman), Susan Levy (TAQA)
- CAPLA Liaison - Nadene Bateman
- Legal Liaisons - Richard Grant (Gowlings) and Danica Doucette-Preville (Gowlings)
- PASC Liaisons - Earl Robins
- Surface Liaison - Susan Gramlich (Husky)
It is hoped that an initial draft of the agreement will be issued in 2Q2015 and completion of the project is targeted for mid-2016. PJVA will be the custodian of the agreement.
Early Morning Sessions
Just a reminder that the next EMS will be held on Wednesday, January 28th. Don’t forget the venue change. We will now be gathering at the Petroleum Club in the Card Room (downstairs) for the sessions. The topic is yet to be determined but will be communicated to members in the near future.
January Luncheon: Time to Shape Up - Financially!
It’s a new year! Resolutions are up and bank accounts are down following the holiday season.
Let’s start the new year off right with a focus not only on your physical health but also your financial health. Join us at the January luncheon where an overview of the current state of the Oil and Gas Market will be presented by an experienced Scotia McLeod Analyst.
Brad Stangeland will offer option strategies to protect yourself from large downturns like we are currently experiencing.
Brett Standen will offer ways to diversify your portfolio outside oil and gas and opportunities to invest globally (US and abroad) without incurring any currency risk.
Don’t miss out on the opportunity to hear from one of the industry's leading investment institutions and gain valuable insight into the Oil and Gas Market while also gaining piece of mind for your own personal financial health!
Speaker: Brad Stangeland & Brett Standen, Scotia McLeod
Task Forces Update - January 2015
The Agreement Monitoring Committee (AMC) would like to update the membership on the status of our Task Force Groups:
- The AMC is in the process of drafting up a Delivery Point Agreement and will get it reviewed and hopefully finalized by end of June 2015 for use by the members.
- The Emulsion Handling Agreement Task Force (EHA) is complete and is online for use by the membership. Thanks again to the Task Force for all their time and hard work in getting the industry a model agreement.
- The CO&O Agreement Committee, led by Tim Reimer, are working hard to get us an updated version in the very near future. The CO&O Agreement Task Force formed several separate committees to handle the different parts of the CO&O and the individual Appendices within the agreement. We hope to have an updated version later in 2015.
- The PJVA in conjunction with several other Associations are drafting a Pad Sharing Agreement for industry use. The Task Force is new and just started meeting before the end of 2014.
Any issues with the current PJVA model agreements, questions about model agreement wording and of potential new model agreements may be referred to any member of the Agreement Monitoring Committee.
I would like to wish everyone a very Happy New Year!
Director, Task Forces
Martine O’Connor
eStudies and Web Based Learning
PJVA is excited to offer customizable and accessible web-based learning options to industry professionals. PJVA has a suite of web based courses geared towards practicing and prospective JV professionals and personnel involved in the development and operation of a Joint Venture facility.These courses, available via the eStudies link at www.pjva.ca, are a supplement to the Joint Venture Certificate Program offered through PJVA and Mount Royal University. The courses offered on eStudies are identical to the courses offered at Mount Royal, the only distinction being that the Mount Royal courses are applicable towards the Joint Venture Certificates while eStudies are not. As well, the eStudies courses are offered in segments such that the student can customize and streamline their learning experience.
eStudies courses include Joint Venture Agreements, with modules in Construction, Ownership and Operating Agreements, Unit Agreements, and Service Agreements, Joint Venture Administration as well as Joint Venture Analyst Levels 1 and 2. The Agreements courses offer excellent background knowledge to anyone who works with or is bound by a Joint Venture Agreement. Joint Venture Administration details exactly how work is to be conducted within the legal framework of Joint Venture agreements. The Analyst courses provide understanding of Joint Ventures techniques and processes.
Check out www.pjva.ca today and click on eStudies!
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PJVA was incorporated in 1985 to represent individuals and organizations involved in petroleum joint ventures. JVViews is published to keep members informed about upcoming PJVA and industry events, courses and seminars offered and/or sponsored by PJVA and current projects being facilitated by the Association.