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VOLUME 16, ISSUE 4 APRIL 2018
President’s Letter
New Members 3
Questions from the Field 4
Industry Affairs 5-11
Apr Education Luncheon 12
Getting to know a Member 13,14
OCAPL Past Presidents 15-17
OU 60th 18
AAPL Education 19
April 2nd concluded our Educational Luncheons and Monday Night Meetings for the first half of 2018 and as usual our guest speakers at each event brought forth value and continuous education opportunities for our members in attendance. Thanks again to our guest speakers, Keith Needham and David Miller, for being with us on April 2nd and to Patriot Energy Development for sponsoring our April Luncheon. We look forward to some of our most popular events occurring between now and our next scheduled meeting on September 10th. The latter half of April has three events that I know many of you plan on attending.
April 19th was our Field Landman Seminar sponsored by Bivins Land Services and held at Quail Creek Country Club. We hosted upwards of 100 landmen at this event where they were able to network, learn, and earn CPL, RPL, and RL credits by listening to our two guest speakers, Kraettli Epperson and Matthew Allen, discuss topics such as defensible title and the new horizontal spacing rules in Oklahoma.
On April 21st, OCAPL will be partnering with the OU Energy Management students to lend a helping hand and volunteer at The Urban Mission. The Urban Mission has a variety of programs that benefit Oklahoma City and I encourage you to visit their website to
learn more about how this organization and OCAPL will be helping our community. Event registration has reached capacity but there will be other opportunities to volunteer throughout the year for those that are interested.
And speaking of OU students, on April 27th many OCAPL members will be attending the 60th Annual OU PLM/EM Awards Banquet. This event continues to grow and this year will be held at the Embassy Suites Hotel in Norman. Keynote Speaker Joe Castiglione is sure to entertain the audience and I know Steve Long, Director of the OU Energy Management Program, and his assistant, Sandy Houchins, have put in countless hours to ensure the success of the Banquet, an event that I know many of us look forward to attending every year. Good luck to all the students out there hoping to grab up some scholarships!
Thank you to all our sponsors who help make this organization a great one. As always, please do not hesitate to reach out to me with thoughts and suggestions.
Sincerely,Matt Beavers2018 OCAPL President
Points of Interest
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Apr. 21st
Apr. 27th
May 5th
May 21st
Aug. 24th
Sep. 10th
Sep. 14-16th
Oct. 1st
Oct. 14th
Nov. 5th
Dec. 3rd
OU/EMSA Volunteer Event at The Urban Mission
OU 60th Anniversary of the Energy Management Program
Fishing Tournament – Lake Texoma
Golf Tournament – Oak Tree/Oak Tree National / TOURNAMENT FULL
Sporting Clays Tournament – Silverleaf Shotgun Sports
Educational Luncheon – Sponsored by Blue Star Land ServicesSpeaker – Dave Hampton, Hampton & Milligan Topic - “Leasing and Dealing with Trust Entities”Monday Night Meeting – Social Meeting - No Speaker
Weekend Take Off – Beavers Bend
Educational Luncheon – Sponsored by Compass Land ResourcesSpeaker - Munson & McMillin Topic – Indian Title IssuesMonday Night Meeting – Speaker TBA
Fun Run - Wheeler Ferris Wheel Park
Educational Luncheon – Sponsored by Jackfork Land, Inc. Speaker – Wilson Busby, Continental Resources Topic - NegotiationsMonday Night Meeting – Awards Night
Christmas Party
*IF YOU WOULD LIKE TO BE A LUNCHEON SPONSOR OR SPEAKER, PLEASE CONTACT CLARKE RICHARDS AT [email protected]
*GO TO WWW.OCAPL.ORG TO REGISTER FOR EVENTS*
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Kevin Koon Landlocked GIS [email protected]
Merritt Hunt Triumph Energy Partners, LLC [email protected]
* Kerby Hunt Triumph Energy Partners, LLC [email protected]
Daniel Tully Master Mineral Holdings III, LP [email protected]
Kyle Thomas Kyle F. Thomas [email protected]
* Brad Wolf BW Resources, LLC [email protected]
* Sebastian Alvarado Western Land Services [email protected]
* Evan Mehaffey Independent [email protected]
* Ronald Elkin Stephens Land Services [email protected]
* Kylie Linstead Stephens Land Services [email protected]
Brent Thompson Whitetail Energy [email protected]
Blake Thompson Harbor Energy, LLC [email protected]
Christian Spencer CV Land Services, LLC [email protected]
Hayley Gibson Monticello Investments, LLC [email protected]
Megan Cook Monticello Investments, LLC [email protected]
Karl McKinney Compass Land Resources [email protected]
* Curtis Johnson Citizen Energy [email protected]
* Richard Shackelford Shackelford Land Services, LLC [email protected]
Michael Slovacek Landlocked GIS [email protected]
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Questions from the Field
Timothy C. DowdELIAS BOOKS BROWN & NELSON
Q: XYZ Corporation was a single member corporation owned by Bob. XYZ acquired various oil and gas mineral interests. Prior to his death, Bob, as president of XYZ, conveyed what he believed were all of XYZ’s assets to various parties. However, as is typical, one property did not get conveyed by Bob out of the corporation. XYZ still owns one mineral interest.
XYZ failed, neglected, or did not pay its franchise tax or file its an-nual report because it believed it had no assets. XYZ has been sus-pended by the state. My client wants to either secure a lease from XYZ, or have XYZ deed the mineral interest to a third party, whom we can secure a lease from. How do we do this? - L.L.L.
A: Real property must be owned by somebody 100% of the time. So, the ownership does not just vaporize. Even when a corporation’s legal status has expired for failure to pay franchise taxes or has dissolved, a corporation has the ability to continue to do business for a period of time after its expiration or dissolution. In Oklahoma, at a minimum, the corporation can continue to do business for three years after its expiration or dissolution.
Questions from the FieldTimothy C. Dowd
ELIAS BOOKS BROWN & NELSON
Editor’s Note: Each month this column will be devoted to answering oil and gas title questions.
Q: I examined an Oil and Gas Lease dated July 1, 1984, covering tracts in Sections 1, 2, 3, 4, 5 and 6. I have also examined copies of Oklahoma Corporation Commission Completion Reports (Form 1002) for the Smith 1-1 Well drilled in the SE/4 and the Smith No. 2 Well located in the NE/4 of Section 1.
During the primary term of the lease, two wells were drilled on the lands in Section 1. The first well, which is denoted as the Smith 1-1 Well, was commenced on October 13, 1984 and drilled in the S/2 SE/4 (which is not part of the leased tract). The Smith 1-1 was completed in a formation, which was established as a 160-acre drilling and spacing unit for the SE/4.
A second well, denoted as the Smith No. 2 Well, was drilled in the NE/4 of Section 1 (part of the leased tract) on April 24, 1986, and completed in the Hartshorne formation. The Hartshorne formation has not been established as a drilling and spacing unit for the NE/4 of Section 1.
Does the drilling of the Smith 1-1 Well in a drilling and spacing unit of 160-acres cause the lease to terminate outside the SE/4? What is the impact of the Smith No. 2 Well Well on the extension of the Smith 1-1 lease?
A: Title 52 O.S. 87.1(b) recites: "In case of a spacing unit of one hundred and sixty (160) acres or more, no oil and/or gas leasehold interest outside the spacing unit involved may be held by production from the spacing unit not more than ninety (90) days beyond expiration of the primary term of the lease." (This statute is frequently described as the “Statutory Pugh Clause”).
Unfortunately, there is no case law and only one law review article that construes this statute and its impact on wells drilled. The only guidance is the wording of the statute. In this situation the oil and gas lease would not have been extended solely by virtue of production from the spacing unit and the well drilled in the SE/4, but the lease was After the three-year period, the law is not clear. It appears
the corporation would need to be reinstated, or a quiet title suit may be necessary.
The question that frequently comes up is who has the authority to act on behalf of the corporation after the principal dies. Whether it is known or not, all of the stock ownership would go, presum-ably, to the heirs of the decedent under the decedent’s will or by intestate succession. If all the assets of the corporate shareholder president went to his widow, then his widow would own the stock of the corporation and she could “elect” herself to be president of the corporation and could then execute a conveyance.
Depending upon the amount, quantity and value of the property involved, simple corporate minutes could be prepared, wherein a Board of Directors is elected and the Board elects the widow as president. Further, the corporation could always get reinstated by filing the proper paperwork with the Secretary of State.
Note: If you have any title questions you want answered, email your questions to [email protected].
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Upgrading The Industry In The Information AgeBrian Walzel Associate Editor, E&P Hart EnergyMonday, April 2, 2018 - 6:00am
For at least the first couple of thousands of years, astronomy was essentially an observational science. Using only simple tools and the naked eye, early astronomers tried to gain a better understanding of the stars and planets. Some of it was accurate, and some of it was not—despite Copernicus’ insistence that the sun was the center of the universe.It wasn’t until the 17th century with the invention of the telescope that astronomy began to transition to a theoretical—or quantitative—science, one which leverages the development of computer or analytical models to describe objects and phenomena.The oil and gas industry has undergone a similar, albeit more condensed, transformation. The tools used to produce hydrocarbons have come a long way in 200 or so years, and today the industry sits on the brink of its own quantitative revolution. Many of the tools of the modern oil man and woman would be nearly unrecognizable by those drilling the first wells in the late 19th century.Aerial drones, holographic lenses, robots and devices that dramatically alter the view of the universe are no longer the tools of tomorrow. They are in use today, and their applications are rapidly emerging across a wide array of industry operations. Tech-savvy businesses and digital flexibility are no longer limited to Silicon Valley. An emerging trend out of the energy recession has been an effort for companies to become more innovative, efficient and nimble in their operations. A variety of reports suggest substantial money is being invested by oil companies in the digital space as they learn that devices such as these can help save on costs and enhance worker safety.The “Global IoT in Oil and Gas Market—Analysis & Forecast, 2017-2026” report by BIS Research stated the global Internet
of Things (IoT) market is expected to reach $30.57 billion by 2026, increasing at a compound annual growth rate (CAGR) of 24.65% during the forecast period through 2026.According to the study “Confidence and Control: The Outlook for the Oil and Gas Industry in 2018” by DNV GL, more than one-third of senior oil and gas professionals said they expect to increase spending in R&D and innovations this year—the highest level indicator DNV GL has tracked in four years.“We will see more R&D going into digital, artificial intelligence [AI] and automation, which is really about costs, and about other ways of doing our business,” Maria Moræus Hanssen, CEO of German-based E&P company DEA, stated in the report. “R&D is now less likely to be focused on ultradeep water, the Arctic or other extreme environments. It will be more about rationalizing the business—making the industry more profitable, more productive and modernized.”In the past two years, only 15% (2016) and 14% (2017) of oil and gas companies were planning increases in technology R&D, which DNV GL suggests signals an imminent turnaround after three years of cuts and freezes.In addition, the McKinsey and Co. report “The Next Frontier for Digital Technologies in Oil and Gas” stated that digital technologies have the ability to create additional profits from existing capacity.“The effective use of digital technologies in the oil and gas sector could reduce capital expenditures by up to 20%,” the
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report stated. “It could cut operating costs in upstream by 3% to 5% and by about half that in downstream.”Operators and service companies alike are seeing the future and seeing the value of these digital innovations. In 2017 Halliburton and Repsol announced partnerships with Microsoft to initially develop cloud-based computing systems before expanding to mixed reality applications and robotics to deliver integrated systems across the entire energy value chain.Chandra Yeleshwarapu, senior director of R&D and head of global services at Halliburton Landmark, said augmented reality (AR) and virtual reality (VR) systems have been integrated at Halliburton through its DecisionSpace enterprise platform, which was founded about five years ago.“We’ve always had a high-volume of APIs [application programming interfaces] to connect with other immersive technologies,” he said. “But over the past two to three years, mixed reality has become more prevalent so we started building DecisionSpace with the same APIs used for connecting to a 3-D-based system, thus creating the capability to connect to AR.”Meanwhile, companies like Devon and BP have been at the forefront of digital technologies, such as the use of drones for data gathering and monitoring operations.But as BP Technology Director Dave Truch explained, all of these types of technologies have emerged from a single
building block—the quest for more data ingested by new approaches to digital data analytics.“For various reasons, we collect data primarily by humans,” Truch said. “If you look at the algorithms out there, and look at the amount of data humans can collect, there is a disconnect. There’s no way I can put enough humans in the field to actually run these algorithms with any kind of surety about the results. By nature of trying to run these new algorithms, we had to consider a whole new way of capturing data. That led us into autonomous machines.”
Drones and roboticsIn a recent report issued by IHS Markit, the use of aerial drones was identified as one of several “transformative technologies” likely to emerge in the industry this year. Another report by research firm Mordor Intelligence stated that the market for drones in the oil and gas industry is projected to reach $4 billion by 2020, with a CAGR of 37% during the forecast period. The Mordor Intelligence report also stated that drones have the ability to collect “as much data available in the last 30 years within 45 minutes” and are “poised to become the next major disruption to influence the oil and gas industry.”In fact, according to a report by Technavio, oil and gas is the leading end-user industry in the robotics market, with a 58.5% share of the market.
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Trumbull Unmanned provides drone operations to companies in the oil and gas sector such as BP and was named Exxon Mobil diverse supplier of the year. The company has performed more than 100 live flare inspections both onshore and offshore, which CEO Dyan Gibbens said in an emailed response is about onetenth the price and one-tenth the time of traditional flare inspections. She also said the savings vary from client to client, but if a typical inspection were to take a week, for example, a drone inspection can be done in less than a day and oftentimes less than an hour.
“Drone services provide several unique benefits to the oil and gas industry,” Gibbens said. “First, they allow companies to greatly reduce risk and start allowing individuals to perform important work while never having to put themselves in harm’s way. Second, in order to start effectively applying productivity increasing algorithms to work, the data need to be collected in a structured format.”Gibbens said drones offer the ability to collect large amounts of data in those needed formats. Operational improvements often can be seen in three primary areas—efficiency, safety and quality, she said.“For example, many operators have integrated drones into their offshore inspection activities,” she added. “They have done this because it has greatly reduced the costs of inspections with no reduction in production, allows dangerous work to be performed with no risk to people and has the ability to collect high-resolution data that was not previously possible.”Truch said compared to traditional inspections on offshore platforms that required rope teams, drone inspections can reduce crew sizes by one-third. He also said such an inspection can be performed in about half the number of days with “significantly more” data acquired.Intel and Cyberhawk, an aerial drone inspection company, recently partnered on a flare stack inspection in Saint Fergus, Scotland, using the Falcon 8+ drone system. According to Intel, such an inspection conducted by a drone can save $1 million to
$5 million per day in potential production losses.“Traditional inspections of oil and gas assets of this scale require either full or partial facility shutdowns,” Intel reported in a case study of the operation. “This could take days to weeks to bring the plant offline and accessible for inspection workers.”According to the study, the Falcon 8+ deployed for the mission captured 1,100 images in 10 flights, which translated to 12 GB of data over the span of one to two days. A similar inspection would typically take a threeman team three days to complete, the study reported.Truch said that AI algorithms run by BP offered the company new insights into how it is using devices such as drones and how those devices are influencing their perception of their operations. This led BP to go back to its risers in the Thunder Horse Field in the Gulf of Mexico, in which oil was first produced in 2008.“At the Thunder Horse trial, our focus was on full data collection, the value of the data, the ability to actually run [drones] on our platform in a safe manner and, from there, to turn around and say the data we collected are very meaningful and very useful,” Truch said. “Now we’re starting to look at how we can take some of these new approaches
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and look at the data. Meanwhile, the data collected are still being analyzed in the traditional way, because we’re still getting huge value in the data we’re collecting.”Truch said during the course of the drone inspections of the Thunder Horse risers, BP realized the mission began to evolve from merely data collection to a method that provides insight across a variety of the company’s operations.“What we discovered is that a lot of the structural engineers, coating engineers and maintenance individuals were also interested in the data collected from the same mission,” he said. “That’s allowing us to change the nature of how we collect these data. In the past it was very specific to a single-use case. So, we put people on ropes to collect data about the risers. If we then wanted to look at some structural elements on the platform, we’d put people on ropes a different time to look at the structural elements. If we wanted to do some coating inspection, yet another group of people would go out on ropes to look at the coating. All of that information was collected on a single mission [with drones and crawlers].”Much like unmanned aerial vehicles, robots are accessing both physical spaces and data that humans previously could not or where it was dangerous for them to do so. In the early 2010s, Total recognized that no existing autonomous surface robot existed in the oil and gas industry to meet the needs of E&P activities. In December 2013 Total, in partnership with the French National
Research Agency, launched an international competition to design and build an autonomous robot for oil and gas sites. The ARGOS Challenge included five teams from Austria and Germany, Spain and Portugal, France, Japan and Switzerland. Each team was given about $740,000 and three years to design their surface robot prototypes.According to Total, the ARGOS surface robot was to have three main missions: to carry out inspections currently performed by humans, detect anomalous situations and intervene in an emergency. More specific tasks included performing inspections during the day or night; being able to locate, read and record inspection points; take measurement and analyze readings; and detect anomalies ranging from malfunctions to dangerous situations such as gas leaks, suspicious heat sources or excess pressure, Total reported.According to Total, the five robot prototypes were tested in a former gas dehydration facility in southwestern France in conditions representative of other company facilities. The final iteration of the competition was held in March 2017, and the prototype from the Austrian-German team was selected as the winner and was chosen by Total to start operating on one of its facilities beginning in 2020, the company reported.In December Total successfully trialed an aerial drone system, its Multiphysics Exploration Technology Integrated
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System (METIS), for geophysical imaging. The goal of the METIS project, according to the company, is to obtain quality geophysical data in complex topographical locations, minimize environmental and safety risks, and improve turnaround time and costs.The drone system uses Downfall Air Receiver Technology (DART) to “carpet” the ground in the exploration area with DART wireless geophysical sensors, Total reported. The drone fleet can deploy up to 400 DART receivers per square kilometer, with seismic traces recorded and sent in real time to a processing center, the company reported.Devon Energy CIO Ben Williams said the use of robotics offers the potential to improve a company’s safety objectives through automating potentially highrisk tasks.“Anytime you have the proposition of potentially removing someone from a high-energy work environment through robotics, that’s definitely something we’re interested in doing,” Williams said. “Where we can partner with service providers in which we can get people out of high-energy, hazardous environments like the rig floor or like a dangerous location in the field, that’s definitely worth doing. You’ve got to have a value proposition for any investment you make. Keeping people safe is quite a tremendous value for us.”
AR/VRTechnological innovations in the oil and gas industry are breaking down the limitations of space and time. Data-gathering is achieved much more rapidly and in quantities that never before seemed possible. AR and VR innovations are allowing industry workers to virtually be in two places at the same time and can drastically alter the visual perception of their workspaces.For example, operators and service companies are finding AR is an ideal tool for training simulations and troubleshooting mechanical problems in the field.Honeywell recently released a cloud-based simulation tool that uses a combination of AR and VR to train plant personnel on critical industrial work activities.“With as much as 50% of industrial plant personnel due to retire within the next five years, the Honeywell Connected Plant Skills Immersive Competency is designed to bring new industrial workers up to speed quickly by enhancing training and delivering it in new and contemporary ways,” the company stated in a press release. The training tool combines mixed reality with data analytics and Honeywell’s experience in worker competency management to create an interactive environment for on-the-job training. The program uses Microsoft’s HoloLens and Windows Mixed Reality headsets to simulate various scenarios.“Megatrends, such as the aging workforce, are putting increased pressure on industrial companies and their training programs,” Youssef Mestari, program director for Honeywell Connected Plant, said in the release. “There is a need for more creative and effective training delivered through contemporary methods
such as immersive competency, ultimately empowering industrial workers to directly improve plant performance, uptime, reliability and safety.”Return to Scene, a company that specializes in visualization and data technologies, has partnered with tech startup Mozenix to develop a mobile AR application, R2S AR. The application supports the digitalization and automation of oil and gas operations. Return to Scene also works with companies like BP and ConocoPhillips on visual asset management.“Offshore oil and gas assets are complex, adaptive structures with a constant flow of actions being undertaken by international teams,” Martin McRae, Return to Scene’s head of product development and support, stated in a press release. “The systems, which enable these actions, are underpinned by asset registers, which are represented by physical tags attached to equipment. The location of these tags and the ability to visualize data in a certain way is crucially important.”However, for oil and gas companies to fully leverage the benefits of AR and VR, enough data—and enough of the right kind of data— must be in place. Devon’s Williams said an example of a key initial step to implementing these types of technologies is to collect 3-D images of the needed work locations, rather than just traditional diagrams.
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“The emergence of drones and machine learning technologies are allowing us to—at a very low cost—capture and manage 3-D imagery of our field locations such that we can integrate that dataset into what is today a fairly developed set of automation tools for monitoring and identifying,” he said. “So if I can put someone in that space and highlight with AR the equipment that has the problem, then I can speed up someone’s activity out in the field, instead of them having to go out and start from scratch.”Companies are beginning to leverage the capabilities of digital twins of their assets. According to Baker Hughes, a GE company (BHGE), a digital twin is a digital representation of physical parts, assets, processes or systems. Digital twins continuously collect data from sensors on the assets and apply analytics and self-learning AI to gain insights about its performance and operation, BHGE stated.As part of its partnership with Microsoft, Halliburton has implemented AR and VR capabilities for training and field operations and has incorporated these innovations into its DecisionSpace enterprise platform. Halliburton’s Yeleshwarapu said the effect is the ability of the worker to interact with a digital twin of a reservoir or of a wellhead, for example.“We have the platform and the unique ability to create an oil and gas digital twin,” Yeleshwarapu said. “Microsoft has the ability to provide the capability around AR and VR tools. You put that together with DecisionSpace Well Construction or DecisionSpace Production and you end up with an immersive way to interact with and understand the industry’s only true oil and gas digital twin.”Schlumberger has implemented VR training systems for onboarding new employees who have no experience in the field and, more specifically, for its cementing downhole tool systems.Steve Uren, head of simulation at Schlumberger, said, “The training for the cementing downhole tool systems evolved from what was primarily a traditional classroom environment into a VR simulation of the actual working environment of the system.“We redesigned the entire program with some prework requirements. Once the employees arrive at the learning center, they engage in daily activities in the VR environment,” he said. “We basically removed all of the traditional classroom activities.”Uren said the purpose of utilizing a VR environment rather than traditional classroom methods was to increase the fluency of specialists, make them more comfortable working in the field and enhance trainees’ ability to better process operational steps. “In December 2017 Schlumberger rolled out a VR onboarding training program for new entrants to the industry, such as engineers and technicians who typically have not had field experience,” Uren said. The VR training environment simulates a variety of environments, such as a land rig, offshore jackup
rig and offshore semisubmersible unit.“The trainees can explore the general arrangement of the rig,” he said. “New employees are given an accelerated introduction to the different rig types they will experience; they have the opportunity to walk around and understand where the equipment is and what the equipment does.”Uren added, “Feedback from the training has been very positive with employees embracing the change of learning environment and tools.”
The upgradable workforce The leading case for many technological innovations in the oil and gas industry has been improvements in safety and efficiencies. Another component to the suite of advances, such as drones, robotics and AR/VR, are wearable technologies—physical devices worn by industry workers that augment their environments, monitor their functions and even track their movements.BP has applied a variety of wearable technologies in its operations, particularly tagging devices that track employees for safety and to optimize worker performance. BP Technology Principal Blaine Tookey said such devices have been met with an overwhelmingly positive response where they have been implemented.“We’re moving into scale deployments in some facilities where [managers] are saying ‘This can really make a difference to our operations,’” Tookey said. “This is really impactful for their emergency and safety performance. But also they can see the value added in day-to-day operations around understanding how people move and how we can support them better.”He said companies typically rely on a worker to communicate physical or environmental problems they may be experiencing while on the job, which is a challenge wearable tracking devices potentially solve.“We’re leaving it up to them to report that they have an issue,” Tookey said. “People might be getting fatigued or they might be getting dehydrated, but now we’ve got the capabilities through wearables to monitor those key parameters and understand in advance whether their performance might be dropping off and call them up and tell them to take a break, tell them to get some water and even intervene in more problematic issues.”As wearable devices become more commonplace and accepted in the industry, they could become a part of a worker’s usual personal protective equipment that all field or facility workers take out with them, Tookey said.“This opens up brand new opportunities—particularly in biometrics and streaming video, neither of which people don’t commonly use in a facility or as a wearable at the moment,” he said. “We’re also looking at exoskeletons, which are basically structures that you strap to yourself allowing for better endurance, safer lifting, safer holding and longer carrying.”
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Although Tookey said wearable devices are still in the early days of being applied widely in the industry, there may soon come a time when wearables are in high demand by industry workers and may even become essential tools.“In the longer term, wearables will evolve to more sophisticated monitoring and visual/cognitive aids essential for the work role and be seen as normal upgrades,” Tookey said. “People will wonder how they ever worked without them in five years’ time. And then [wearables] will develop to the point where people will perform significantly better with them. What you may see in 10 years’ time is people demanding, ‘I want to be upskilled, I want to have more capability, and I can’t compete without a wearable to help me understand the world and do my job.’”
US crude rises 56 cents, settling at $64.94, ending the first quarter up 7.5%
• OPEC, Russia and other oil producers are expected to limit their output until the end of 2018.• Rising U.S. crude stockpiles and output is capping oil prices.• Shanghai crude futures have fallen 10 percent since Monday’s launch.Published 10:55 PM ET Wed, 28 March 2018 Updated 2:39 PM ET Thu, 29 March 2018 Reuters
Jonathan Alcorn | Reuters
Oil jack pumps in the Kern River oil field in Bakersfield, California.Oil prices rose on Thursday as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.The oil price touched $71 a barrel on Tuesday, near its high for the year, but has struggled to gain further traction since then, despite supportive comments from the Organization of the Petroleum Exporting Countries.U.S. West Texas Intermediate crude futures finished Thursday’s session up 56 cents at $64.94 a barrel.June Brent crude futures was up 57 cents at $69.33 a barrel by 2:27 p.m. ET, while the May Brent contract, which expires later
on Thursday, was down 75 cents at $70.28.Brent has risen by 5 percent since January, on track for its third consecutive quarter of price increases and the longest stretch of quarterly gains since late 2010. U.S. WTI crude is up about 7.5 percent since the start of the year.“The equities market is rallying and that’s lending support to oil,” said Philip Streible, senior market strategist at RJO Futures in Chicago. All three major U.S. stock indexes were positive on Thursday.“The dollar is slightly in positive territory, but it’s not screaming like yesterday,” which is also supportive to crude prices, said Streible. The dollar against a basket of currencies was up about 0.04 percent, after gaining 0.8 percent Wednesday. A weaker greenback makes dollar-denominated commodities cheaper for holders of other currencies.Strong compliance on supply cuts from members of The Organization of the Petroleum Exporting Countries (OPEC) and allies like Russia have supported prices. OPEC sources said the group and its allies are likely to keep their deal on cutting output for the rest of 2018 when they meet in June.U.S. energy companies this week cut oil rigs for the first time in three weeks.Drillers cut six oil rigs in the week to March 29, bringing the total count down to 798, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Thursday.But rising inventories and production in the United States has capped gains in crude prices. Commercial U.S. stocks rose by 1.6 million barrels in the last week to 429.95 million barrels, while output hit a record 10.43 million bpd, the Energy Information Administration (EIA) said.“Right now, oil looks fragile,” Petromatrix strategist Olivier Jakob said. “The price action last week was pretty clear. The objective on that move was to take out the highs of 2018, but that’s not been done and the price action of the last three days has not been very convincing.”This week marked the launch of the Shanghai crude oil futures contract, which has lost about 10 percent since it first opened on Monday. It ended Thursday’s session at 409.7 yuan ($65.18) a barrel.Despite high volatility and lingering skepticism about Shanghai’s trading hours, along with doubts about the process for physical delivery of crude under contract, most analysts expect the contract to establish itself as a third global oil price benchmark next to Brent and WTI.Goldman Sachs said in a note to clients that there was “finally, an exchange traded price for Chinese crude oil.”Shanghai’s “start of trading was relatively successful (as)...it is the first onshore Chinese commodity contract that allows direct trading by foreign investors and is denominated in RMB (yuan), indirectly promoting the use of the Chinese currency,” Goldman said.
US crude rises 56 cents, settling at $64.94, ending the first quarter up 7.5%
OPEC, Russia and other oil producers are expected to limit their output until the end of 2018.
Rising U.S. crude stockpiles and output is capping oil prices.
Shanghai crude futures have fallen 10 percent since Monday's launch. Published 10:55 PM ET Wed, 28 March 2018 Updated 2:39 PM ET Thu, 29 March 2018 Reuters
Jonathan Alcorn | Reuters Oil jack pumps in the Kern River oil field in Bakersfield, California.
Oil prices rose on Thursday as the equities markets rallied and as market participants weighed a rise in U.S. crude inventories and production against continued OPEC supply curbs.
The oil price touched $71 a barrel on Tuesday, near its high for the year, but has struggled to gain further traction since then, despite supportive comments from the Organization of the Petroleum Exporting Countries.
U.S. West Texas Intermediate crude futures finished Thursday's session up 56 cents at $64.94 a barrel.
June Brent crude futures was up 57 cents at $69.33 a barrel by 2:27 p.m. ET, while the May Brent contract, which expires later on Thursday, was down 75 cents at $70.28.
Page 12
April Educational Luncheon
April Lunch SpeakerKeith Needham
April Lunch SponsorPatriot Energy Development
Page 13
Wade Brawley is CEO of Land Information Systems (“LIS”) and LandVantage (“LV”) software used by many leading oil and gas companies throughout the U.S. Prior to founding LS and LV, Wade served as VP of Land Administration at Chesapeake Energy. Wade has published many articles in The American Oil and Gas Reporter, World Oil and Landman and he contributed to Brock’s Petroleum Accounting Principles, Procedures and Issues. Wade is an active member within the OCAPL organization and has his CPL. I have known Wade for many years and I am excited to feature him in this addition of “Getting to Know A Member”. If you have not had a chance to meet Wade, please introduce yourself next meeting.
GETTING TO KNOW A MEMBER
Q. Wade, how did you get involved in the oil and gas industry?
A. I was working my first job (not oil and gas) in Dallas, just out of school and my new work experience made me realize I needed to re-boot my career. There was a lot of buzz about a new job called “Landman.” Sun Oil gave me my first opportunity and I totally consumed the new lingo and knowledge and developed a penchant for organization and efficiency.
Chesapeake provided a creative, innovative palate for designing workflows that brought disparate data together for easier retrieval and analysis. Our goal was transparency and turning data into meaningful information.
Q. What are your favorite hobbies?
A. I love to play tennis and play as often as I can, plus remodeling and landscaping projects on my rental properties. I also enjoy spending time on Lake Skiatook where I have a weekend home and boats. Reading is a joy, but lately it’s hard to find time to settle into a good book. Winter seems to be the best opportunity to immerse myself in a book. Last winter’s favorites were “Glass Castles” and “Killers of the Flower Moon.”
Q. Favorite place to have dinner?
A. Home. My wife is a wonderful cook. But a few times a year, we have a private chef that shops and prepares a formal dinner for us, and I love inviting friends for conversation and a fine dinner. But there are so many great restaurants
Page 14
of late. I really enjoy all the new Plaza District restaurants, as well as The Hatch and Waffle Champion. But my favorite standby is The Hutch in Nichols Hills Plaza.
Q. What is your favorite movie?
A. Alfred Hitchcock’s “Rear Window.” I love the relationship between James Stewart and Grace Kelly. And also his quirky relationship with his therapist Thelma Ritter. I really like the New York apartment community Hitchcock re-created so perfectly. It makes me envious of New Yorkers.
Q. Everyone has one. What is your biggest pet peeve?
A. People who tell me what they think I want to here. Where’s the honesty?
Q. What is your favorite vacation spot?
A. Anywhere new. But I’m very fond of Mexico – Puerto Vallarta and Play del Carmen. I finally saw the Grand Canyon just a couple of years ago and that raised my consciousness to all the beauty and wonder in our own country. Now I envy the RVers.
Q. Our industry is notorious for moving quickly and using technology to improve production. One thing we appear to lack is the utilization of technology for our office systems. Talk a little about that and what your company is doing to change that.
A. The problem is many solutions are built by programmers to satisfy a project manager who may
have a limited view of how a Land process should be performed. When tasked with solving a problem, I enjoy interviewing all the stakeholders and opening my mind to accept all kinds of permutations and possibilities. I know I can’t please everyone, so I like to provide a solution that satisfies everyone’s basic needs, then puts the data in the hands of the user to perform even more analysis offline. My hope is that my system will inspire its users to discover new ways to juxtapose (my favorite word) their data with other data sources and create something truly valuable for their organization. I like to think that my system, LandVantage provides a platform from which the customer’s data can spring forth without limitations to the kind of information the user can create.
Q. How can someone get in touch with your company to learn more about that.
A. Well, by now I think I’m LinkedIn with just about everyone, but check out our website at LandInfoServ.com to learn about what we do and click the ‘contact us’ button. I look forward to hearing from you.
of late. I really enjoy all the new Plaza District restaurants, as well as The Hatch and Waffle Champion. But my favorite standby is The Hutch in Nichols Hills Plaza.
Q. What is your favorite movie?
A. Alfred Hitchcock’s “Rear Window.” I love the relationship between James Stewart and Grace Kelly. And also his quirky relationship with his therapist Thelma Ritter. I really like the New York apartment community Hitchcock re-created so perfectly. It makes me envious of New Yorkers.
Q. Everyone has one. What is your biggest pet peeve?
A. People who tell me what they think I want to here. Where’s the honesty?
Q. What is your favorite vacation spot?
A. Anywhere new. But I’m very fond of Mexico – Puerto Vallarta and Play del Carmen. I finally saw the Grand Canyon just a couple of years ago and that raised my consciousness to all the beauty and wonder in our own country. Now I envy the RVers.
Q. Our industry is notorious for moving quickly and using technology to improve production. One thing we appear to lack is the utilization of technology for our office systems. Talk a little about that and what your company is doing to change that.
A. The problem is many solutions are built by programmers to satisfy a project manager who may
have a limited view of how a Land process should be performed. When tasked with solving a problem, I enjoy interviewing all the stakeholders and opening my mind to accept all kinds of permutations and possibilities. I know I can’t please everyone, so I like to provide a solution that satisfies everyone’s basic needs, then puts the data in the hands of the user to perform even more analysis offline. My hope is that my system will inspire its users to discover new ways to juxtapose (my favorite word) their data with other data sources and create something truly valuable for their organization. I like to think that my system, LandVantage provides a platform from which the customer’s data can spring forth without limitations to the kind of information the user can create.
Q. How can someone get in touch with your company to learn more about that.
A. Well, by now I think I’m LinkedIn with just about everyone, but check out our website at LandInfoServ.com to learn about what we do and click the ‘contact us’ button. I look forward to hearing from you.
of late. I really enjoy all the new Plaza District restaurants, as well as The Hatch and Waffle Champion. But my favorite standby is The Hutch in Nichols Hills Plaza.
Q. What is your favorite movie?
A. Alfred Hitchcock’s “Rear Window.” I love the relationship between James Stewart and Grace Kelly. And also his quirky relationship with his therapist Thelma Ritter. I really like the New York apartment community Hitchcock re-created so perfectly. It makes me envious of New Yorkers.
Q. Everyone has one. What is your biggest pet peeve?
A. People who tell me what they think I want to here. Where’s the honesty?
Q. What is your favorite vacation spot?
A. Anywhere new. But I’m very fond of Mexico – Puerto Vallarta and Play del Carmen. I finally saw the Grand Canyon just a couple of years ago and that raised my consciousness to all the beauty and wonder in our own country. Now I envy the RVers.
Q. Our industry is notorious for moving quickly and using technology to improve production. One thing we appear to lack is the utilization of technology for our office systems. Talk a little about that and what your company is doing to change that.
A. The problem is many solutions are built by programmers to satisfy a project manager who may
have a limited view of how a Land process should be performed. When tasked with solving a problem, I enjoy interviewing all the stakeholders and opening my mind to accept all kinds of permutations and possibilities. I know I can’t please everyone, so I like to provide a solution that satisfies everyone’s basic needs, then puts the data in the hands of the user to perform even more analysis offline. My hope is that my system will inspire its users to discover new ways to juxtapose (my favorite word) their data with other data sources and create something truly valuable for their organization. I like to think that my system, LandVantage provides a platform from which the customer’s data can spring forth without limitations to the kind of information the user can create.
Q. How can someone get in touch with your company to learn more about that.
A. Well, by now I think I’m LinkedIn with just about everyone, but check out our website at LandInfoServ.com to learn about what we do and click the ‘contact us’ button. I look forward to hearing from you.
Page 15
OCAPL PAST PRESIDENTS
The Past Presidents were honored at our April Monday Night Meeting. The meeting was well-attended with many of the Past Presidents present. Each has put in countless volunteer hours to make this association something all of its members can be proud of. Not only have they been dedicated to achieving this, but many have been challenged with unusual tasks and situations and have been successful in finding solutions. Your Association is continuing to grow and move forward with a lot of thanks owed to these dedicated members. All of the Past Presidents are listed below. If you happen to see one of them in the future, be sure to thank them for their service to our Association!
2017 Robert Rice2016 Nick Watkins2015 Amy Love2014 Lindsey Miles2013 Mike Walker2012 Julie Woodard2011 Carrie Askins2010 Bill Irvin2009 Bobby Bolton2008 Ken Wilpitz2007 C. Kent Loeffler2006 Jack C. Taylor, Jr.2005 Franklin Muskrat, Jr.2004 Sam Carroll2003 Sam Carroll2002 Candace Robinson2001 Jack C. Richards2000 Phillip K. Swyden1999 Gail M. Cope1998 Owen M. Barnhill1997 Clark D. Rother1996 Michael Sias1995 Robert J. (Jeff) Miller1994 Richard C. Cope1993 James W. Wallis1992 Barby J. James1991 Charles R. Robinson1990 Robert S. Brock1989 Gary B. Hale1988 Steven A. Muns1987 Robert D. Gray1986 Richard Dixon1985 David L. Meara1984 Joe M. Van Auken1983 Robert K. Wilpitz
1982 Michael B. Yost1981 Gordon R. Brecheisen1980 Kent E. Phillips1979 DeWayne Pitt1978 James H. Welin1977 Bill J. Parker1976 Jess Harris, Jr1975 Ben F. Troutman1974 Jack Sweeney1973 David C. Savage1972 John B. Morey1971 Fred Terry1970 Richard L. Sias1969 William T. Garrity1968 W. E. Golden1967 Arthur S. Brewster1966 John L. Gorman1965 T.B. Wilcox, III1964 Wesley H. Mowery1963 T.E. Wells1962 H.F. Boles1961 B.H. Woodward1960 Jim Carmichael1959 Baylus Minter1958 Jake Torbet1957 Paul Miller1956 Frank Shinkle1955 Don Raffety1954 Shelby McGee1953 Miller Waggoner1952 Fred Speilbeger1951 John Melton1950 Jack Dalton1949 Jack Dalton1948 Cecil Lanier1947 M.V. Rushmore
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Past Presidents Night
Page 17
Past Presidents Night
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Celebrating the 60th Anniversary of the Robert M. Zinke
Energy Management Program (Historically the Petroleum Land Management Program)
The University of Oklahoma is an equal opportunity institution. www.ou.edu/eoo
Robert M. Zinke Energy Management Program
Visit us online atprice.ou.edu/60Years
for more info and updates
The World's First...School of Petroleum GeologySchool of Petroleum EngineeringSchool of Petroleum Landmen
SAVE THE DATE
60TH CELEBRATION
BANQUET
APRIL 27, 2018
Page 19
Sign Up Now!
Held By Production and Royalty Issues (webinar available)
6/5/2018
AAPL General Events 2018 Annual Meeting 6/20/2018-6/23/2018
WOULD YOU LIKE TO JOIN THE AAPL?
VISIT WWW.LANDMAN.ORG TODAY!
Page 20
2018 OCAPL Officers*Executive Officers
and Committee Chairman Advertising Price List for the Ocapl Record
Advertisement Price:_______ Quarter Page Add @ $750 for full year (10 issues)Ad Requirments:- 3 1/4 wide x 4 1/2 tall
- Ads need to be submitted in PDF or JPG with at lease 150 dpi resolution
Payment is due prior to publicationCONDITIONS: All advertising copy is subject to the ap-proval of OCAPL. Where copy is not furnished by the deadline date, the space reserved will be moved to the next issue subject to availability. Advertising is accepted in the order in which it is received until all space is filled.
Oklahoma City Association of Professional Landmen Office
Teresa PortwoodOCAPL OfficeP.O. Box 18714Oklahoma City, OK [email protected]: www.ocapl.org
Next Newletter Deadline:June 14, 2018
2018 Newsletter Chair:Tyler Hogland
Prepared by Dustin Burton
President *Beavers, Matt [email protected] President *Brooks, Jeff [email protected] *Hardegree, Jerrod [email protected] *Fleharty, Michael [email protected] Past President *Rice, Robert [email protected] Past President/AAPL Director *Watkins, Nick [email protected] and Nominations/Ethics Woodard, Julie [email protected] Affairs Chair McGee, Jordan [email protected] Affairs Co-Chair Portwood, Elle [email protected] Chair Richards, Clarke [email protected] Co-Chair Payton, Chase [email protected] Chair *McCurdy, Sam [email protected] Co-Chair Carlozzi, Brian [email protected] Committee Member *Wickham, Diana [email protected] Landman Chair Campo, Jeremiah [email protected] Landman Co-Chair Bivins, Stacey [email protected] Tournament Chair Graham, David [email protected] Tournament Co-Chair Cook, Nate [email protected] Run Chair Dickensheet, Dan [email protected] Run Co-Chair Rohlmeier, Heather [email protected] Night Out Chair Brockus, Alva [email protected] Night Out Co-Chair Anderson, Leslie [email protected] Tournament Chair Naik, Bhavin [email protected] Tournament Co-Chair Kammerer, Brandon [email protected] Affairs Chair Jennings, Brandon [email protected] Affairs Co-Chair Cloer, Ryan [email protected] Affairs Chair Meek, Aaron [email protected] Affairs Co-Chair Hampton, Dave [email protected] Chair Love, Bethany [email protected] Night Speaker Chair *Campo, Jennifer [email protected] Night Speaker Co-Chair *Parks, Colt [email protected] Chair Hogland, Tyler [email protected] Co-Chair Gannaway, Stephanie [email protected] EM Mentoring Chair Hennigan, Bryan [email protected] EM Advisor Long, Steve [email protected] Relations Chair Vawter, Brandt [email protected] Advisor Miles, Lindsey [email protected] Clays Chair Reed, Shannon [email protected] Clays Co-Chair Ritter, Chase [email protected] Chair Raney, Grant [email protected] Take Off Chair *Coshow, Larry [email protected] Take Off Co-Chair Love, Amy [email protected] Manager Portwood, Teresa [email protected]
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NEXT MEETING NOVEMBER 4, 20�3NEXT MEETING SEPTEMBER 10, 2018
