Operator Liability Under Federal Oil and Gas Leases
Drilling and Production Challenges, Environmental Issues, Drainage Protection, Well Abandonment, Reporting Obligations
Course Details
- smart_display Format
On-Demand
- signal_cellular_alt Difficulty Level
- work Practice Area
Energy
- event Date
Wednesday, November 13, 2019
- schedule Time
1:00 PM E.T.
- timer Program Length
90 minutes
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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This CLE course will discuss critical terms and conditions of federal oil and gas leases, considerations for record title and operating rights owners, drilling and production obligations, overcoming environmental issues, drainage protection, well abandonment, and operator production and activity reporting requirements.
Federal oil and gas leases have a different ownership structure than other oil and gas leases, imposing heavy responsibilities and obligations on operators. Regulations involving federal oil and gas leases, including the terms of such agreements, require strict adherence to rules and reporting requirements.
A lessee of a federal oil and gas lease, as opposed to a fee lease, holds interest in both record title and operating rights which are often severed. Holders of record title have lease assignment and relinquishment rights. These holders often assign or transfer the operating rights to a third-party who would then be authorized to drill and conduct operations that produce the leased substances.
Operators of federal oil and gas leases must comply with the lease terms and all applicable federal and state regulations. Noncompliance is subject to assessments and potential penalties. Oil and gas counsel need an in-depth understanding of the challenges faced by operators, including those involving drilling and producing obligations, drainage protection, well abandonment procedures, environmental issues, and reporting requirements.
Listen as our panel discusses critical aspects of federal oil and gas leases, record title and operating rights holder liability, and offer guidance on overcoming challenges in reporting and maintaining compliance with federal and state regulations.
- Federal oil and gas leasing requirements and key provisions
- Critical considerations for record title and operating rights owners
- Drilling and production obligations and challenges
- Conduct of operations and environmental issues
- Operator reporting obligations
The panel will review these and other key issues:
- What types of interests are transferrable under federal oil and gas leases?
- What are the responsibilities and obligations of record title and operating rights owners under federal oil and gas leases?
- What are the challenges in complying with applicable federal and state laws and regulations?
- What are the operator's drilling and producing obligations and issues that may arise?
- What are the obstacles and obligations involved in protecting leases from drainage?
- What are the reporting obligations for operators of federal oil and gas leases?
