More Tiers for Less Tears: Tiered Insurance Programs in MSAs written by Saayem Rahman The oil and gas industry is an industry of high risk and high reward, and where there is risk, insurance follows. These risks exist for upstream, midstream, and downstream companies alike. To offset this risk, oil and gas companies require various… Read more »
What To Do as a Non-Operator When Your Operator Goes Bankrupt written by Matt Reynolds As owner of oil and gas assets, you can often feel that a lot of what happens to those assets is out of your control. This is never more true than when the Operator of your assets goes bankrupt. When… Read more »
JIB Audits for Non-Ops (Unlike IRS Audits, These Work in Your Favor) written by Matt Reynolds In a perfect world, the relationship between an oil and gas Operator and its Non-Operators is one of harmony and complete trust, with the flow of funds and costs of operations completely transparent and all associated accounting timely and… Read more »
Non-Op Litigation: Are You Being Dragged Along for the Ride? written by Matt Reynolds When you are not the Operator of your assets, you have less control over the types of litigation risks that you may face. If your Operator is not paying royalties correctly, is in dispute with one of its vendors, is facing… Read more »
What Did I Just Buy? Problem Spotting for Non-Operators under Inherited JOAs written by Andrew Clinton Perhaps no routinely utilized form in the oil and gas industry is as misunderstood and loathed as the Joint Operating Agreement (“JOA”). Despite numerous attempts to standardize the JOA, as a Non-Operator, you’ve likely received a zip folder of… Read more »
Master Service Agreements (Emphasis on Service) written by Matt Reynolds Whether you have just acquired your new oil and gas assets, acquired an operating company with an existing stable of vendors, or are preparing to kick off drilling and development, every operating entity needs to shift its focus to Master Service Agreements (“MSAs”). MSAs are… Read more »
Do I Need a Contractor or a Consultant? A Look at MSAs and CSAs written by Matt Reynolds In the modern energy industry, it’s impossible to do everything on your own. Every operator needs to engage suppliers, manufacturers, wellsite equipment and manpower, independent engineers, surveyors, and a whole host of other service providers to complete… Read more »
Meet the New Boss Same as the Old Boss – Diligence of New Employment and Confidentiality Agreements written by Andrew Clinton So, you’ve acquired a new asset and, in the process, new employees who are potentially subject to existing Employment Agreements (“EAs”) and Confidentiality Agreements (“CAs”). What is a good course of action to protect… Read more »
Resources to Guide Your Company Through Initial CTA Filing written by Kaysha Spoon So, your business is subject to the newly effective Corporate Transparency Act. Now what? First, watch this informational video from FinCEN to better understand the CTA and its general provisions. Be aware that many types of businesses are exempt from reporting under… Read more »
I’m a Beneficial Owner, What Information Do I Have to Report for the CTA? written by Miranda Caballero 2024 is here, and now businesses and individuals involved in these businesses have to comply with the CTA’s reporting requirements AND that New Year’s resolution to finally start hitting the gym. The CTA is serious business, but… Read more »
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