Current Issues on Rights of First Refusal - October 22nd, 2008

At summer camp I remember singing “Michael, Row the Boat Ashore,” in endless rounds as the orange glow of the crackling fire lit the night while we kids were safely seated so far away from the conflagration that we felt no heat and mostly spent the night swatting mosquitoes, shivering, and yearning for the torture to end. Amid these sweet memories I recall that a fireside buddy once asked me, “Where’s Michael rowing?” and I quickly answered, “Fer shore dummy, he’s rowin’ fer shore.” Years later, as a newbie evaluations engineer in the oil patch, I was asked if there were any “row fer’s” on some land. I was very confused. “Row ‘fer?” The first thing I thought of was Michael’s endless row fer shore to get to that milk and honey on the other side, or sometimes to meet someone’s mother.

Now, I’ve at least got the name sorted. Turns out that “row fer” has nothing to do with Michael’s quest for milk and honey, or anybody’s mother. It’s all about rights of first refusal, or “ROFR’s” as folks in the business like to say. READ MORE

Categories : Business Practises, Land A&D, Oil & Gas

The Little Land System ® - April 14th, 2008

Finding ways to cut costs and remain competitive are important challenges for small business owners, especially in the oil and gas industry. Managing land information efficiently is the key to capitalizing on business opportunities and is best done with specialized computer software. The price of most of the products on the market, however, is prohibitively high for junior explorers and producers. Because of this lack of viable software options, these small companies are forced to choose between trying to come up with the funds for these expensive programs in the hopes that they will “grow” into them, or trying to keep track of important land information using basic spreadsheets. In order to provide an affordable alternative for small companies, Tracey Stock and his associates Debbie Degenstein, Rory McGuire, and Moya Little have designed The Little Land System ®, a product of Enermatix Consulting Inc. This new system is now available, but will be formally launched on March 19, 2008, at a presentation being held at the Chamber of Commerce, and provides an exciting new alternative for small businesses that need to manage oil and gas land information. READ MORE

Categories : Business Practises, Land A&D, Oil & Gas

Confidentiality Agreements and Areas of Exclusion - April 14th, 2008

If we want to promote a business opportunity we need to provide information about it, but by providing the information we may have our idea, vision, or data exploited by a competitor. Organizations are reluctant to disclose without safeguarding what they share. Organizations are reluctant to invest without receiving satisfactory disclosure. The confidentiality agreement is one of the oil and gas industry’s most common business tools in helping to overcome this paralysis. READ MORE

Categories : Business Practises, Land A&D, Oil & Gas

Box Bombs - April 14th, 2008

In your office, on the floor, under a table, there may be a box full of paper that’s a financial and legal time-bomb waiting to sabotage your strategic plans and terminate your tactical genius. It’s the box with closing documents from your last deal and you haven’t done anything with it since it was delivered. You mean to. But, you’re busy and haven’t gotten around to it yet. Soon, it’ll be a box full of trouble. READ MORE

Categories : Business Practises, Land A&D, Oil & Gas

Well World - April 14th, 2008

A colleague just dropped by with a puzzled and panicked look on their face. In their hand was a list of instructions passed to them by corporate pooh-bahs who had decided to divest the organization of all its properties that were producing in the bottom 25th quartile. Undoubtedly the pooh-bahs were very proud of their strategic brilliance. Unfortunately, corporate moves are not just about strategy. It’s also crucial that any strategy fit with tactical logistics and in this case the pooh-bahs weren’t thinking about the tactics of implementing their grand scheme. We sat down together and studied the well list. READ MORE

Categories : Business Practises, Land A&D, Oil & Gas

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