JVViews: June 2015 Issue
President's Note
Editor's Note
Last Day to Register for the Pre-Stampede Breakfast Kickoff!
Save the Date for the PJVA/GPAC Joint Conference – October 29 at the Palliser Hotel
May 14th Spring Fling Pub Night
JV Administration Portfolio - June 2015 Update
Task Forces Update
Early Morning Session - Wednesday, May 27th
May Luncheon Review – The Impact of Technology in Oil & Gas
Year-end Academic Report
PASC Education Day 2015
New Volunteer Opportunities are Available!
eStudies and Web Based Learning
JV Rep Tool + Role Opportunities
Looking for a New Opportunity?
PJVA Linkedin Group + Twitter
President's Note
As the current PJVA President, this is my last chance to send a note to our membership. PJVA is a great organization and is strong through its Board of Directors and membership. PJVA has almost 790 members, with 16 Directors and 100 volunteers working indirectly on all our activities. We have expanded our Board this year to implement two new positions, a Marketing Director and a second Academic Director taking care of maintenance of the JV Certificate Program. The other existing portfolios have been doing an excellent job of the regular business including luncheons, early morning sessions, various task forces, the JV Certificate Program at Mount Royal University, one day seminars, JV Administration portfolio, our legal group, strategic advisory group, annual joint conference, membership and social activities, along with the Executive made up of the current President, Past President, Treasurer and Vice President.
I wanted to thank the membership for their support of our activities by attending and volunteering. Please spread the word where you can to ensure we are reaching new staff that join your company that could benefit from our many services. Also for those in other departments, ask if they could benefit from our E-Studies courses on CO&Os, Service Agreements, Units, Administration and Analyst training or our Certificate Program at MRU, also offered online.
At this time, I would like to extend my personal thanks to each and every member of the Board for their willingness to work at progressing all our activities and for their support they provided me this past year.
Thanks,
Lee Wahl
PJVA President 2014-2015
Editor's Note
As you may know, the PJVA "business year" is July 1 to June 30, so this is the final newsletter for the 2014-15 year. We take the summer months of July and August off, with no PJVA events scheduled. So there are no early morning sessions, luncheons, seminars or networking events until September. There has been a lot of activity in the PJVA this past year which you can read about in several of this month's articles – in particular the message from outgoing PJVA President Lee Wahl, the year-end Academic Report from Tracey Moore-Lewis, the year-end JV Administration Report from Lorie Caron and the Task Force Update from Martine O'Connor.
We hope you got to attend some of the PJVA events and activities this past year and that you found them useful and enjoyable. Have a safe, happy and fun-filled summer and we look forward to reconnecting with you in September.
Kent Black
Newsletter/Website Director 2014/15
Last Day to Register for the Pre-Stampede Breakfast Kickoff!
Save the Date for the PJVA/GPAC Joint Conference – October 29 at the Palliser Hotel
.jpg)
May 14th Spring Fling Pub Night
The May 14th Spring Fling Pub Night was very well attended at the Barley Mill. We had 25-30 Registered with a cozy setting on the main floor of the Barley Mill. Thanks everyone for attending that last pub night prior to summer break. Have a great summer!!
JV Administration Portfolio - June 2015 Update
In the 2014/15 year the JV Administration group has been working on Contract Maintenance - Inventory of Tasks and Best Practices. This involves developing the Administrative Tasks and Best Practices for various JV Admin procedures and then creating a Work Flow Diagram with an associated written Process. Following is the status of the Tasks and Best practices currently being worked on.
1. Tasks and Best Practices – Unit Exhibit Updates
- 8 specific tasks identified.
- Operated: 4 Flow Diagrams and 4 Written Processes completed and ready for review.
- Non Operated: 4 Flow Diagrams and 4 Written Processes completed and ready for review.
2. Tasks and Best Practices - CO&O Appendix Updates
- 24 specific tasks identified.
- Operated: 10 Flow Diagrams and 6 Written Processes completed and ready for review.
- Non Operated: 7 Flow Diagrams and 6 Written Processes completed and ready for review.
3. Tasks and Best Practices – Service Agreement – Exhibit Updates
- 20 specific tasks identified.
- Service Receiver: 10 Flow Diagrams and 10 Written Processes completed and ready for review at June meeting.
- Service Provider: 10 Flow Diagrams and 10 Written Processes not yet completed.
4. Tasks and Best Practices – Mail Ballots
- 76 specific tasks identified.
- Operated: 38 Flow Diagrams and 12 Written Processes completed and ready for review.
- Non Operated: 38 Flow Diagrams and 12 Written Processes completed and ready for review.
Lorie Caron
JV Administrator Portfolio
Task Forces Update
The Agreement Monitoring Committee, (AMC) is a standing committee tasked with the review and maintenance of existing model agreements, as well as the identification of additional required model agreements. This AMC is also responsible for monitoring the use of PJVA model agreements and the need for education on or discussion of them. This coming year, the AMC will work in conjunction with the CO & O Task Force and the Pad Sharing Agreement Task Force. Our committee meets every month and is made up of the following members:
- Cindy McIvor
- Karen Hall
- Richelle Lindsay
- Marilyn McAvoy
- Jan McLean
- Martine O'Connor
- Trevor Ross
- Adrienne Krukoff
Any issues with the current PJVA model agreements, questions about model wording and of potential new model agreements may be referred to any member of the Agreement Monitoring Committee.
The AMC is currently working and very near completion of the Delivery Point Agreement. We are in the final stages and getting ready to send to the Board for approval prior to implementing on the PJVA website for membership use.
The CO&O Agreement Committee, led by Tim Reimer are working hard to get us an updated version of the Construction, Ownership and Operation Agreement. The AMC has received revised Appendices for review as a start. As the CO & O Task Force completes sections or appendices in the CO & O they will be given to the AMC for review. We hope to have the whole agreement in late 2015 and a total review by the AMC by the end of 2015 or early 2016. Our goal is to have a revised CO & O to the membership in early 2016. I would like to thank all those that are assisting in getting the CO&O Agreement updated, thank you for all your time and effort, it is much appreciated. The CO & O Agreement Task Force formed several separate sub-committees to handle the different parts of the CO & O and the individual Appendices within the agreement. The CO&O Agreement Task Force (main group) is made up of the following members:
Lynda MacNeill
Crawford Hutchinson
Jan McLean
Ib Moller
Tim Reimer
John Rothwell
I would like to thank everyone working on the various task forces and on the Agreement Monitoring Committee for all the time and hard work spent towards our PJVA Model Agreements. Your time is very much appreciated!!
Martine O'Connor
Task Force Director
Early Morning Session - Wednesday, May 27th
The Early Morning Session held on Wednesday, May 27th was on Equalizations and 13th Month Adjustments. Lorie Lindberg moderated the session which could have been described as "Equalizations from A to Z". Lorie has her CMA designation and has completed several related Certificate Programs. She teaches for both CAPPA and PASC in the areas of Equalizations and Production and Revenue Accounting – a true expert in the field.
Every aspect of the equalization process was covered, from the definition of an equalization and why they are done, to how 3rd party fees should be handled and how to verify non-operated equalizations. There was also a discussion on the "to pay or not to pay" debate concerning equalizations that are not prepared in accordance with the timing provisions of the governing agreement or are statute barred. Lorie had excellent tips for booking equalizations and creating accounts to code the fees and revenue. She is an extremely dynamic speaker and "held the room" for the entire presentation and the question/answer period afterwards. Those who attended the session will attest they are much better informed on the topic of Equalizations and 13th month adjustments. A copy of Lorie's presentation slides have been posted to the PJVA website.
The May session was my last as Director of the Portfolio. Jonathan Cassetta of Cenovus Energy Inc. will be taking over the portfolio for the 2 year period commencing with the 2015-2016 term. We will update the website with Jonathan's contact information and would ask that you direct any suggestions for future topics to Jonathan.
Thank you to everyone who presented at the sessions under my watch, for sharing your knowledge and expertise with the membership and a special thank you to all who attended and participated in the discussions over the past 2 years.
Best regards,
Robyn Lewis
May Luncheon Review – The Impact of Technology in Oil & Gas
PJVA's May 21 luncheon featured Chad Lundberg, Completions Manager, Engineering with Crescent Point Energy Corp. Chad spoke about the changes in technology for the Oil & Gas Industry and how they impact our business while also emphasizing that the technology story is still being written.
Chad spoke about standard drilling and completion practices and focused on how the technology has continued to evolve over the years. Discussing Crescent Point's guiding principles around Safety, Environment and Community, he pointed out that the evolution in technology has brought about many benefits to the business and the environment. Advanced technology has allowed Crescent Point to increase pool recovery factors, increase its rate of return and increase its cash flow, for example. On the environmental side, technological advancements have allowed for a reduction in water usage and an overall reduced environmental footprint.
Chad was very enthusiastic about the ongoing advancements in oil & gas technology and how they will continue to reduce cost and enhance recovery in the future. However, he warned that it takes time for technology to grow and develop, and for new technology to be invented. We must allow services to match pace with our available technology to ensure we have the appropriate equipment and training. The key point, technology outpaced equals reduced value for the resource.
Chad's presentation covered a wealth of information on oil & gas technology and utilization principals and found an engaged audience in our PJVA members in the room.
Year-end Academic Report
We entered the 2014/15 year with new energy and a vision to bring rise to change. We reminded ourselves of past strides taken and opened our eyes to what we could achieve together in the future. With the contributions of many Directors and volunteers alike, it's gratifying to conclude the year somewhat transformed!
Additional Director
With a growing workload and a growing vision, the PJVA were lucky to have Michelle Thoen (CNRL) agree to split the Academic Portfolio with Tracey. Michelle will start as a co-director alongside Tracey in the 2015/16 year. As luck would have it, Tracey and Michelle met as a result of a joint venture between Tracey (then with Suncor) and Michelle (then with Devon). As joint venture professionals do, and do well, fostering a positive joint venture relationship has been easy for Tracey (now with Enerplus) and Michelle. Both value diversity, work collaboratively, and are driven and accountable. 2015/16 should prove to be an exciting year for this duo!
Mount Royal University – Certificate Program
We spent a considerable amount of time this year revising and preparing to update our curriculum offered at Mount Royal University. In addition, Rein Evelein and his team have worked tirelessly building a brand new Facilities 101 course (for the non-engineer) for our industry. As always, the effort of the many dedicated volunteers involved in the Academic Education Program is truly amazing! In that regard, the PJVA wishes to recognize and thank the following people for their time and effort this year:
- Tracey Moore-Lewis – Director, PJVA Academics
- Rein Evelein – Facilities 101 Coordinator & Education Videographer
- (Rein's team: Teresa Waddington, Len Moriarity, Roger Henault, Robert Thompson and Tracey Moore-Lewis)
- Lorie Caron - Administration Coordinator & PJVA Director
- (Lorie's group: Kim Hall, Andy Gale, Sarah Johnson, Gloria Chase & Robyn Lewis)
- Randy Tomilson – Analyst 2 Coordinator
- Steffany Colvinns – Analyst 1 Coordinator
- (Steffany's group: Heather Telasky, Paul O'Gorman & Megan McDonald)
- Peter Mitchelmore – Agreements Coordinator
- Claire Basinger – Examinations Coordinator
Rein has been working (volunteering) evenings with most of the coordinators to develop at least one video learning component for each of their courses. He will have something to show us in the fall, if not before. These instructional learning clips will provide for some entertainment and an additional learning platform in our Mount Royal curriculum in the future.
Of course, PJVA would also like to thank Andrea Gill, Diana Lundine, Shannon Geoffrey, Dimitra Fotopolus and Amanda Howlett from Mount Royal University. Mount Royal's camaraderie and passion for keeping PJVA on its toes provides a platform for continued attention and energy from the PJVA Education team.
Commencing the 2015/16 year, Tracey has handed off the responsibility of the Mount Royal program to Michelle. Thank you, Michelle!
Southern Alberta Institute of Technology
An exciting opportunity has arisen with our friends at SAIT to also offer some joint venture courses and seminars in their school. PJVA's SAIT program, handled by Tracey, is still in its infancy.
The AIPN Connection
This year Marcel Savoie and Tracey met with Tony Cioni from the Association of International Petroleum Negotiators (AIPN) in the hopes of forming an education connection moving forward. Like the PJVA, the AIPN is a not-for-profit professional association supporting international negotiations. In the future, we hope to have an increased emphasis on complimentary education involving larger commercial and international joint ventures.
Educational Articles - CAPL
We have made strides in the past couple of years producing educational articles for industry. Our relationship with CAPL is highly valued! CAPL stewards publication of our work in their monthly magazine and we think that's simply fantastic! We are thankful to work so closely with our colleagues at CAPL for educational purposes.
The JV Rep Program and P.JV Designation
This is an ongoing process. We are still working on a platform for this initiative.
Happy Summer!
Whether you are from our association or not, PJVA values everyone involved in its education initiatives and its relationships with like-minded associations such as CAPL, CAPLA, CAPPA and AIPN. "Alone we can do so little; together we can do so much." – Helen Keller.
We look forward to seeing everyone at the Stampede Breakfast in a couple of weeks! We hope everyone has a happy and safe summer!
Tracey Moore-Lewis
Academic Director
PASC Education Day 2015
Early Bird pricing EXTENDED! Ends July 17!
This one-day conference will be taking place at the Calgary Petroleum Club on Tuesday, September 15, 2015. The theme for this year's conference is "Yesterday, Today & Tomorrow" and we will be exploring just that with a roster of impressive speakers.
With 7-hours of verifiable CPLD this conference is a low cost and convenient method of obtaining your required credits!
Click here for more information
New Volunteer Opportunities are Available!
Check out what's needed for Marketing and the Early Morning Discussions.
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!
JV Rep Tool + Role Descriptions
Don't forget this valuable member benefit when looking to define or advance your career.
Looking for a New Opportunity?
Check out the PJVA Job Board for recent postings.PJVA LinkedIn® Group
PJVA is on LinkedIn®, the world's largest professional network. It's a great way to stay connected and exchange ideas with other PJVA members and industry professionals.
Click here to submit your thoughts and ideas!
PJVA has a new Twitter account! Follow us @PJVA
Congratulations to our Golf Event Tweeter – Rachel Ogilvie Rachel wins a prize for signing up and participating!
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.