Revisiting Regulatory Negligence: The Ernst Fracking Litigation
Transcription
Revisiting Regulatory Negligence: The Ernst Fracking Litigation
THE NEGOTIATOR Th e M a g a z i n e o f t h e C a n a d i a n A s s o c i at i o n o f Pe t ro l e u m L a n d m e n December 2014 The NOA Debate Transfer Date Versus Effective Date The CAPL Farmout and Royalty Procedure Entering the New Millennium The Ernst Decisions Revisiting Regulatory Negligence Your energy partner Building on over 20 years of recognized oil and gas leadership and valued relationships with CAPL, McMillan continues to be your trusted and experienced energy counsel. For information on the services McMillan’s Energy Group can provide, please visit our website or contact Michael Thackray, QC. Michael A. Thackray, QC e: [email protected] t: 403.531.4710 THE NEGOTIATOR Th e M a g a z i n e o f t h e C a n a d i a n A s s o c i at i o n o f Pe t ro l e u m L a n d m e n Senior Editorial Board Director of Communications Brad Reynolds [ph] Advertising Editors Kevin Young [ph] Trevor Rose [ph] Coordinating Editor Krissy Rennie [ph] Feature Content Editor Mark Innes [ph] Regular Content Editor Anne Macedo [ph] Social Content Editor Jason Peacock [ph] Editorial Committee Josh Lewis Amy Kalmbach Nathan Roberts Dinora Santos [ph] [ph] [ph] [ph] THE NEGOTIATOR 403-215-9159 403-724-4450 403-233-3136 403-663-2595 403-818-7561 403-699-6451 403-691-7077 403-233-4446 403-619-2868 403-268-3006 403-470-1558 Design and Production Rachel Hershfield, Folio Creations Features December 2014 2 N oa To Be or Not To Be Effective on This Day! Printing McAra Printing Submissions For information regarding submission of articles, please contact a member of our Senior Editorial Board. Disclaimer All articles printed under an author’s name represent the views of the author; publication neither implies approval of the opinions expressed, nor accuracy of the facts stated. Advertising For information, please contact Kevin Young (403-724-4450) or Trevor Rose (403-233-3136). No endorsement or sponsorship by the Canadian Association of Petroleum Landmen is suggested or implied. The contents of this publication may not be reproduced either in part or in full without the consent of the publisher. Michelle Radomski 7 U pgrading to a “Smart Phone” Jim MacLean 10 R evisiting Regulatory Negligence: The Ernst Fracking Litigation Martin Olszynski In Every Issue 2014–2015 CAPL Board of Directors President Michelle Radomski Vice-President Nikki Sitch, P.Land, PSL Director, Business Development Alberta & British Columbia Andrew Weldon Director, Business Development Saskatchewan & Alberta Oilsands Michelle Creguer Director, Communications Brad Reynolds, P.Land Director, Education Connie De Ciancio Director, Field Acquisition & Management Paul Mandry, PSL Director, Finance Larry Buzan, P.Land Director, Member Services Kent Gibson Director, Professionalism Joanna Shea Director, Public Relations Gary Richardson, PSL Director, Technology Mandy Cookson Secretary/Director, Social Andrew Webb Past President John Covey Readers may obtain any Director’s contact information from the CAPL office. Suite 350, 500 – 5 Avenue S.W. Calgary, Alberta T2P 3L5 [ph] 403-237-6635 [fax] 403-263-1620 www.landman.ca Kaitlin Polowski Denise Grieve Irene Krickhan Karin Steers [email protected] [email protected] [email protected] [email protected] 18 Board Briefs 20 Get Smart 23 The Negotiator’s Message From the Board: Member Services 25 Roster Updates 31 The Social Calendar 32 CAPL Calendar of Events 32 December Meeting 32 January Meeting Also in this issue 10 Fourth Annual CAPL Ski Trip 16 2015 CAPL Squash Tournament 17 2014 Merit Awards 19 Q3 M&A Report by ATB 27Capl General Meeting and Industry Night 28 2015 CAPL Conference 30 Student’s Corner: Women in Energy Noa To Be or Not To Be Effective on This Day! There has been much debate and debacle over the years related to accounting adjustments for the period which accrued prior to the Binding Date is for between the Transfer Date and the Binding Date of and Binding Date are to be settled between a Notice of Assignment (NOA). the Assignor and Assignee. After all, Clause the Assignor’s account and any adjustments related to the period between the Transfer Date THE NEGOTIATO R / DEC EMBER 20 14 8 of the Notice of Assignment states “… In There are two schools of thought: addition, Assignor and Assignee agree that 1. On and after the Binding Date, the Assignee they shall be solely responsible for any adjust- becomes the recognized party to the Master ment between themselves with respect to Agreement with respect to any and all matter the Assigned Interest as to revenues, benefits, or thing occurring or accruing beyond the costs, obligations or indemnities which accrue Transfer Date, which by definition means “the prior to the Binding Date” – but wait, this will effective date of the transfer of the Assigned be addressed below! Interest”. Very important to note that it is not 2 defined as the date of the transfer (in other The Act of Novation words the closing date); but, instead, that date It is of fundamental importance that everyone the transfer was made effective (sometimes remembers that a NOA is not a standalone docu- also called an adjustment date). ment and that its use, application, and effect 2. Alternatively, the Transfer Date has no appli- are dictated by the Assignment Procedure. It is cation to the Third Party. All matter or thing equally important to remember that the NOA is Written by Michelle Radomski wIth thanks to Paul Negenman, Jim MacLean & Lynn Gregor a contractual instrument instituted by Industry in substitution adjust revenues and expenses (and occasionally risk) back to for the assignment and novation agreement (A&N), but which the date the cash or bona fide value to be given to the Assignor still results in novation. This means, “the act of those concerned for the Assigned Interest at closing was determined. Use of parties agreeing that their mutual agreement has been replaced the effective or adjustment date as the Transfer Date is not a by a new one among differing parties.” In the case of a NOA, this big deal for revenues and expenses. However, the subsequent occurs as of the Transfer Date when the old party is discharged effect of Clause 3.01 on the Third Party is to have the Assignee from, and the new party assumes all, the rights and obligations of responsible for any of the interim period liability (e.g. – court the old party under the Agreement as provided by Clause 3.01 of action, taxes, facility fire) from the effective or adjustment the Assignment Procedure. date forward, not the closing date forward. Notwithstanding that Clause 3.02 of the CAPL Property Transfer Procedure What is the Binding Date deems “benefits, obligations and risks” back to the Effective To determine which, if either, of the two above approaches is Date, this may not always be the agreed upon arrangement in correct, let’s first determine exactly, “what is the Binding Date”? a different form of purchase and sale agreement between an By definition under the Assignment Procedure, it means “the Assignor and Assignee. first day of the second calendar month following the month in • To the contrary, based on the “matching principle” of accrual which the Notice of Assignment is served”. Quite simply, it is an accounting, where one tries to match costs and expenses to the administrative trigger date at which time the NOA becomes effec- associated revenues and periods of time, it is logical and practi- tive against the Third Party. In other words, the act of novation is cal to link the cash flow (revenues-expenses) to the incremental deemed to have occurred as of the Binding Date. But, remember, risk associated with the generation of that cash flow. It is help- the act of novation occurring on the Binding Date is different than ful to use the Effective or Adjustment Date as the Transfer Date the date the Third Party is deemed to have agreed that the nova- in the NOA, for the following reasons: tion (substitution of the parties) is effective; being the Transfer Date. The Binding Date of a NOA is no different than the date • the Assignee would have likely had the opportunity to that all counterpart pages had been signed and distributed to the conduct due diligence and conditionally walk away from parties to an A&N. This is where all the third parties recognize the closing the transaction (e.g. “no substantial damage” condi- Assignee as the correct party to that agreement from and after the tion) if they were not prepared to take the Assigned Interest on an “as is” basis; effective date stipulated in the A&N. • the maintenance of business provisions in a purchase and Things You Should Know About the Transfer Date sale agreement typically provide the Assignee with influence Before beginning to address the effect of the NOA on the Third over operations during the interim period; Party there are a few other things to be considered by the Assignor • this date is usually linked to a production month vs. a clos- and Assignee. The first issue is establishing the Transfer Date to be ing date that is other than the 1st day of a given month and stated in the NOA as the effective date or adjustment date versus the closing date of the transaction, when risk, possession and title are actually transferred, assigned and conveyed: avoids odd adjustments; • it mitigates rework on documents when the closing date changes even a day (a very common occurrence); • it encourages shorter interim periods due to the operational • Purely from a legal and contractual perspective, the effective risks; or adjustment date is the date the parties have agreed to Toll Free (866) 412-5263 Pipeline Exploration & Production ( E&P) Telecom Power www.hmaland.com | www.rpsgroup.com 3 THE NEGOTI ATOR / DEC EMBER 20 14 HMA Land Services is now RPS HMA. At RPS HMA we place significant value on developing and maintaining excellent relationships with our clients and industry partners. Our team is dedicated to providing the same level of professional service, reliability and expertise that our clients have come to expect from us. • the Canada Revenue Agency’s tax requirements can be managed through a tax adjustment provision; and • Assignee shall replace Assignor as a party to the Agreement “on and after the Transfer Date;” • the CRA is not requiring tax adjustments and allowing the • As far as a Third Party is concerned, (i) “Assignee shall purchaser to include sale proceeds in its income where the assume and be bound by, observe and perform all terms, effective date and closing date are in the same calendar month). obligations and provisions in the Agreement… [and] shall assume and be entitled to all rights, benefits and privileges Industry seems to understand and accept that risk, possession under the Agreement… on or after the Transfer Date, and (ii) and title doesn’t actually pass until the closing date pursuant to Assignor shall retain and be entitled to all rights, benefits most purchase and sale agreements. However, everyone seems and privileges under the Agreement… prior to the Transfer to be using the effective or adjustment date as the Transfer Date Date;” in their NOA, with respect to the joint account held with the • Third Party… [and] Assignee… “(i) releases and discharges Third Party if there is an unusual event requiring a risk adjust- Assignor from the observance and performance of all terms ment, the indemnification and subordinate auxiliary conveyance and covenants… and all obligations and liabilities which arise document provisions of a typical purchase and sale agreement or occur on or after the Transfer Date under the Agreement; would likely cause this to become a vendor – purchaser action, and (ii) does not release and discharge Assignor from any regardless of which party the Third Party may hold liable under obligation or liability which had arisen or accrued prior to the Agreement. the Transfer Date;” • In all matters relating to the Assigned Interest “subsequent to What Happens Pursuant to the Assignment Procedure the Transfer Date and prior to the Binding Date,” Assignor acts as The Assignment Procedure provides as follows: trustee for and duly authorized agent of Assignee; and • Clause 2.05 says, “An assignment of an Assigned Interest shall… be effective against Third Party on the Binding Date”. • Clause 3.01 states that following the Binding Date “the Assignor has transferred, assigned and conveyed… to Assignee as of the • The Agreement “shall continue in full force and effect from and after the Transfer Date with Assignee made a party thereto… subject to Clause 3.01(d), being that above provision for the Assignor to have acted as trustee for the Assignee.” Transfer Date” OIL & GAS MINERAL RIGHTS & ROYALTY MARKETPLACE BUY • SELL • LEASE THE NEGOTIATO R / DEC EMBER 20 14 SEARCH 400+ PROPERTIES IN NORTH AMERICA OWNERS PUBLISH ADS FOR FREE BUYERS SUBSCRIBE TO VIEW WWW.LISTMINERALRIGHTS.COM FOLLOW US. WE CAN GET YOU THERE. 4 • Clause 3.03 says, “Assignor and Assignee shall be solely responsible for any adjustments between themselves with respect to to the Assignor’s joint interest billing (JIB) account prior to the Binding Date. the Assigned Interest as to revenues, benefits, costs, obligations or indemnities which accrue prior to the Binding Date”. Post-Binding Date (Novation Has Occurred) The Binding Date has no application or relevance after is passes So, now let’s take a look at the situation from two very different – it was simply the trigger date at which time the act of novation points in time – prior to and subsequent to the Binding Date. occurs and become binding on all the parties. The Assignee is now the recognized party to the Agreement in all matters pertaining to Pre-Binding Date (Novation Has Not Occurred) the Assigned Interest from the Transfer Date onwards. The trustee, Until novation occurs on the Binding Date, the Assignor remains agency, and adjustment provision in Clauses 3.01(d) and 3.03 took the recognized party to the Agreement and has the right and duty care of the interim period issues as between the Assignee and to act as trustee and duly authorized agent of the Assignee for Assignor. At this point in time, the Assignor has been released all matters relating to the Assigned Interest subsequent to the and discharged from, and the Assignee has assumed all the Transfer Date and prior to the Binding Date. obligations, liabilities, rights, benefits, and privileges under the It is not a reasonable expectation that once revenues, costs, Agreement on and after the Transfer Date. The Assignor no longer and expenses are booked as actuals or accruals to a JIB account for has the ability to act as the trustee and duly authorized agent of any given accounting month prior to the Binding Date. This would the Assignee. cause Third Party accounting groups to go back and reverse any Accounting for actual revenue payments is often several payments or charges to the Assignor related to the accounting months behind the production accruals. It is not a reasonable months between the Transfer Date and the Binding Date. expectation for the Assignor to continue to receive JIB’s well Therefore, pursuant to Clause 3.03, the Assignor and Assignee beyond the Binding Date for production months occurring several are responsible to account for any adjustments between them- months in advance of the Binding Date and relating to revenues, selves for any revenues, benefits, costs, obligations or indemnities costs and expenses accruing on and after the Transfer Date. attributable to the Assigned Interest after the Transfer Date The Third Party has been deemed to have already agreed that which are for the Assignee’s benefit and which were accrued these accruals belong to the Assignee by virtue of the act of [email protected] [email protected] www.traverselandgroup.com www.traverselandgroup.com Calgary Calgary | 260, | 260, 68156815 8 St.8NE, St. Calgary, NE, Calgary, AB TAB 2E T7H7 2E 7H7 403.265.1050 403.265.1050 Sedgewick Sedgewick | 4911 | 4911 48 Ave., 48 Ave., P.O. P.O. Box Box 36, Sedgewick, 36, Sedgewick, AB T0B AB T0B 4C0 4C0780.384.3565 780.384.3565 Grande Grande Prairie Prairie | #101, | #101, 10419 10419 99 Ave., 99 Ave., Grande Grande Prairie, Prairie, AB T8V AB T8V 0S4 0S4 780.532.7630 780.532.7630 5 THE NEGOTI ATOR / DEC EMBER 20 14 LANDGROUP LANDGROUP novation. This practice further complicates the final settlement of On the Binding Date, novation occurs, and Third Party deals accounts between the Assignor and Assignee commonly occurring directly with the Assignee for all matters accruing to the Assigned 180 days after closing in most purchase and sale agreements. Interest for any and all production months after the April 1 So, what about Clause 8 of the Notice of Assignment? Although this Transfer Date. clause fails to reference the Transfer Date, it cannot be read and inter- For any rights, benefits, liabilities or obligation accruing to the preted independent of the Assignment Procedure. The beginning of Assigned Interest prior to the Transfer Date, the Third Party is to Clause 8 actually reads, “This Notice of Assignment shall become binding deal directly with the Assignor. on all parties to the Master Agreement on the… (Binding Date)”. Taken in In summary, the Binding Date is only that date on which the context with the Assignment Procedure and novation, the later part Third Party must change its records to reflect the new party to of this clause, which says, “In addition, Assignor and Assignee agree the agreement effective as of the Transfer Date. The 1st School of that they shall be solely responsible for any adjustment between Thought is the practice dictated by the Assignment Procedure and themselves with respect to the Assigned Interest as to revenues, the legal act of novation and should be accepted and followed by benefits, costs, obligations or indemnities which accrue prior to the Industry. It is also important to remember that, subsequent to the Binding Date”, can be reasonably interpreted as intending to only Binding Date, it is all about determining when the rights, benefits, apply to that Pre-Binding Date period, before novation occurred, liabilities, or obligation accrued under the Agreement, not when when the Third Party was not required to recognize the Assignee. the accounting is done. To illustrate, an error discovered for the January-March period that is discovered in October should be sent Novation By Example Using an example in which the NOA has a Binding Date of September 1 and a Transfer Date of April 1, the following accounting practice would apply: THE NEGOTIATO R / DEC EMBER 20 14 to the period prior to the Transfer Date. m With credit and thanks given to Paul Negenman, For the accounting months preceding the September 1 Binding Jim MacLean and Lynn Gregory for their initial Date, the Third Party continues to deal with the Assignor, and input, which resulted in much of the content the Assignor and Assignee make the applicable adjustments and concepts presented in this article. between themselves. 6 to the Assignor, not the Assignee, as the issue is one that pertains Upgrading to a “Smart Phone” The major pending upgrade to the 1997 CAPL Farmout & Royalty Procedure is driven by a number of diverse factors. These include: • learnings from our experiences with the 1997 document, particularly with respect to Article 3.00 for “straight up” earning transactions; The Update to the 1997 CAPL Farmout & Royalty Procedure • the need to address specific issues associated with evolving business needs (e.g., the “shale revolution” and the greater frequency of horizontal wells, the need for royalty allocation The 1997 CAPL Farmout & Royalty Procedure became widely accepted in 1998, and has fundamen- processes for horizontal wells straddling Royalty Lands and tally changed the way in which our industry has documented transactions, a much greater use of “straight up” earning struc- earning agreements. Users found that the document: (i) reduced tures, more transactions in areas with multi-zone potential, the cycle time and effort required to complete appropriate docu- many more partial interest farmouts and the potential for an mentation; (ii) focused negotiations on key business components increased frequency of re-entry transactions because of the of transactions; (iii) streamlined administrative processes, while likelihood of greater challenges in obtaining surface access); increasing document and data integrity; and (iv) resulted in • legal influences (i.e., court cases and other changes in the legis- resources being focused on additional value creation opportunities. lative and regulatory environment), notwithstanding that there We distributed a package of materials to industry in late June other lands, changes to drilling density rules, more complex have been very few cases to date on the 1997 document; respecting our work on an update to the 1997 CAPL Farmout • changes required because of completion of the 2007 CAPL & Royalty Procedure. The package included an annotated copy Operating Procedure and the changes contemplated in the of the updated draft, an overview document, and a matrix that current initiative to update that document; identified all material changes and the rationale for each change. • the use of “plain language” principles to simplify the presenta- The supporting overview and matrix elaborate on the changes in tion of the content and to use a more modern drafting style in the update document in a user friendly format, and offer readers order to facilitate a more confident use of the document by a a context that will simplify their review effort. broad range of users; • a major expansion of the annotations as a reference tool for It’s Working Well, So Why Change It? users of all experience levels, given the demographic challenges Based on the major ongoing positive impact of the 1997 CAPL that our industry facesas the baby boomers begin to retire; and Farmout & Royalty Procedure, it has generally held up well. • the ability to increase the breadth and depth of coverage to an This raises the obvious questions about why we would make extent not feasible in the 1997 document, given the sensitivity to significant changes to something that has been working well length at that time because we knew that there would be challenges when there is no strong user outcry for change. in obtaining industry acceptance of the initial 1997 document. The answer is actually the same as for any project of this type. The essence of our industry is that it is built on a foundation of But It’s So Much Longer! continuous improvement, and the nature of these documents The length of the draft will initially be a concern to many. It is is that agreements using them will remain in effect well into important to put this concern in context, though, as we believe the future. that users have much clearer answers on their issues than had This realization requires us to balance our respect for the past previously been the case. As I like to say, we are giving users a with both an objective assessment of the needs of today and a more complete “car manual” that will enable them to manage prudent vision for the needs of tomorrow. It also requires us to issues more efficiently, effectively. and independently. place significant trust in the judgment of those closest to the The inclusion of headings for every subclause increases the applicable document because of the unique insights that these length of the document incrementally, but offers users much “programmers” have on the applications they have created. greater context on the provisions and allows users to find the applicable provision much more easily. Similarly, the subdivision of longer provisions into smaller “bites” through the creation of These include the age of the document, experiences with the docu- extra subclauses and paragraphs materially enhances the read- ment, subtle cracks in the foundation that warrant repair to avoid ability of the document for users. larger problems later on, legal and regulatory developments and, of The addition of new content has also increased the breadth course, changes in the way that our industry conducts its business. and depth of content materially by offering reasonable solutions to foreseeable problems. Some provisions were expanded 7 THE NEGOTI ATOR / DEC EMBER 20 14 The degree to which a significant “renovation” of one of our core documents is required is a function of a number of factors. materially to address recognized issues, such as Clauses 1.02, 3.01, Some Concepts Can Help You Address Issues Today 3.02, 5.05, 6.02, 6.06, 8.01 and 9.03. New provisions were added to There are many provisions in the draft update that can be of address other emerging issues, including the addition of func- immediate benefit resolving existing disputes or to prepare new tionality to address horizontal wells, test well programs, re-entry agreements. Examples of these include: Programs, the potential elimination of separate trust agreements • various modifications to Article 3.00 to address such topics as: relating to typical earning agreements, royalty allocations respect- (i) difficulties in commencing operations; (ii) the interrelationship ing horizontal wells drilled partially on Royalty Lands and partial between “Complete, Cap and Abandon”, the obligation to evaluate interest farmouts. As shown in Addendum III at the end of the the Test Well to the Farmor’s reasonable satisfaction and zonal annotated draft, the shift of new procedural content to the docu- testing requirements; and (iii) the finality of the Farmee’s well ment admittedly adds length, but simplifies finalization of the evaluation obligations in a multi-zone operating environment; Head Agreement. • various modifications to Article 5.00 to address such topics as: There has also been a major expansion to the annotations in (i) Royalty Wells that straddle Royalty Lands and other lands; ways that will benefit users of all experience levels with respect and (ii) optionality to allocate costs through the First Point to both new agreements that use the updated Farmout & Royalty of Measurement, including special provisions respecting the Procedure and older transactions. The annotations include infor- handling of frac water during the initial cleanup period; mation on the evolution of the clauses as a reference tool when • the inclusion of modifications to Clause 6.06 to address an considering issues under current and older agreements, together additional well in the same formation as the productive BPO with an examination of the relevant case law. A special area of Earning Well; focus is the inclusion of ideas that might be considered by negotiators and contracts personnel when structuring new transactions using either the new document or the 1997 version. • a major expansion to the acquisitions that are exempt from the Area of Mutual Interest requirements of Article 8.00; • modifications to Clause 9.03 to offer optionality for the provision As users routinely include a schedule of elections in their of well information from additional Royalty Wells to the Farmor; agreements, rather than the CAPL document, we believe that the • the inclusion of a new Article 10.00 that addresses the possibil- benefits of enhanced coverage and clarity in this new “car manual” ity that the Farmor may hold less than a 100% Working Interest more than offset any negative impact of the increased length. with other third parties under an existing agreement; THE NAME IN SURFACE LAND ACQUISITIONS THE NEGOTIATO R / DEC EMBER 20 14 LAND ACQUISITIONS FIRST NATIONS CONSULTATION PROJECT MANAGEMENT AER CROWN APPLICATIONS SHERWOOD PARK 8 ANNUAL COMPENSATION REVIEWS DAMAGE SETTLEMENTS PUBLIC CONSULTATIONS & NOTIFICATIONS 1.888.321.2222 www.hurland.com [email protected] • a new Clause 16.02 that adds mutuality to the Reserved Our Ask of You Formations Article by having obligations flowing back to the The initial industry draft was issued in June. Our intention is to Farmout Lands from the applicable Reserved Formation parties; complete the document in 2Q2015, so that users will have the • modifications to Article 18.00 to offer functionality restricting benefit of the document for the 2015-16 winter drilling season. drilling during the earning phase and for the circumstance in Given the reality that industry will be using the final version which a party other than the Operator/Farmee retains respon- of this document in due course, it is mutually beneficial for a crit- sibility for ongoing administration of the Title Documents; ical mass of industry to invest time in optimizing the document and during its initial stages. • an expansion to the miscellaneous annotations at the end of Your feedback on the document during its early stages will the document that outline certain circumstances in which help us enhance the quality of the document materially and it may be appropriate to deviate from the provisions of the use project resources much more efficiently. More importantly, it Farmout & Royalty Procedure. will shorten the cycle time to project completion and facilitate a timely and orderly transition to the new document for the collec- But Some Things Remain the Same tive benefit of our industry. The document continues to be designed to provide a platform that Obtaining familiarity with the document in the near-term also allows the parties to focus on the business issues associated with better enables users to understand and address issues with your a particular transaction, without attempting to pre-structure the current agreements and positions users to apply the document business components of the transaction. more quickly following completion. As shown in the sample agreements in Addendum III to the do not vary materially in agreements in a way that enables the Parallel Project to Update 2007 CAPL Operating Procedure parties to complete their documents efficiently and effectively, To optimize alignment between this document and the Operating while retaining full control over the business variable elements of Procedure in the future, we are proceeding in parallel with a their transactions. modest update to the 2007 CAPL Operating Procedure that will be document, the document addresses the procedural elements that completed early in 2015. NO TERRAIN IS TOO TOUGH. With over 41 years of geomatics and surveying experience, we don’t shy away from tough or rugged terrain. Contact us today for your next project. Edmonton Grande Prairie Swift Current Fort Nelson Fort St. John 1 800 478 6162 | canam.com 9 THE NEGOTI ATOR / DEC EMBER 20 14 Calgary The primary motivation for this update is to make substantive We can learn something from that simple story. Our business changes to offer greater functionality for horizontal wells in the continues to evolve in significant ways, and our agreements need context of an increasing number of “long reach wells” on resource to evolve with the needs of the business. This reflects the reality plays. Many of these changes are included as enabling provisions that our agreements revolve around the business needs, not the to minimize the need for consequential changes in the document other way around. if the parties were to create custom provisions in their Agreement The updates to the CAPL Farmout & Royalty Procedure and in due course to address such matters as multiple well drilling or the CAPL Operating Procedure are instruments of opportunity. completion programs and specialized provisions addressing the They allow us to embrace the changes inherent in our business development of well pads. These changes offer a more appropri- and, to at least some degree, anticipate those changes and facili- ate foundation for complex shale projects without attempting tate them in a way in which we are proactive, rather than reactive. to predict or prescribe detailed project specific development However, we can only optimize our gains if we collectively recog- processes that are more appropriately left for the parties to nego- nize this opportunity and seize it. tiate in their particular circumstances. As proud as I am of the 1997 CAPL Farmout & Royalty Procedure The other proposed changes are typically very specific, minor and the enhanced efficiencies it has provided to our industry, the adjustments to the applicable provision or the related annota- reality is that it is analogous to a 2004 Blackberry. It is now time tions. They have been included to reflect experiences to date to make a step change and move to a “smart phone” that offers with the document, intervening legal decisions and the desire to much greater functionality, that honours the past by building on minimize the number of corporate preference type changes being the prior, solid foundation of work and that addresses the biggest proposed by industry for typical transactions. fear of users by being intuitive in use. To attempt to simplify the review effort significantly, we We look forward to working with you as our journey with these have presented the proposed changes in a table format in the documents moves to its next phase. Together, we can truly make context of the corresponding provisions in the 2007 document, with an identification of the specific proposed change through underlining or strikethrough text. The actual changes are more a difference to our companies, our profession and our industry. m Jim MacLean modest than what may first appear when printing the table because the presentation of the changes within the existing provisions and the inclusion of the rationale for each change. Proceeding with an updated version of the CAPL Operating Procedure in parallel with the project to update the 1997 CAPL Farmout & Royalty Procedure will optimize the alignment between the two documents. One of the other anticipated benefits of this is the facilitation of a smooth transition directly from the 1990 document into the modestly updated 2014 CAPL Operating Procedure for users that have yet to embrace the 2007 CAPL Operating THE NEGOTIATO R / DEC EMBER 20 14 Procedure. Save the Date! The Fourth Annual CAPL Ski Trip will be held on Our expectation is that the quality of the two updated CAPL January 30, 2015 at Lake Louise. documents resulting from the current initiatives will be such Registration for this event opens that future modifications to each document will be much more December 1, please visit the modest than the “extreme home makeovers” of the 1990 CAPL CAPL social events webpage. Operating Procedure and the 1997 CAPL Farmout & Royalty If you or your organization Procedure. This conclusion is reinforced when one looks at the is interested in sponsoring this relatively modest modifications being proposed to the 2007 CAPL event please contact one of the Operating Procedure. committee members: In the Words of Wayne Gretzky Will Glass When Wayne Gretzky was a boy, he would spend a lot of time Natalie Carson [email protected] practicing hockey with his dad, Walter. Whenever Walter asked, Jared Tchir [email protected] “Where do you skate?”, Wayne consistently replied, “To where the Debra Bristow [email protected] puck is going, not where it’s been.” 10 Fourth Annual CAPL Ski Trip [email protected] Revisiting Regulatory Negligence: The Ernst Fracking Litigation On September 15, 2014, the Alberta Court of Appeal released its decision in Ernst v. Alberta (Energy Resources Conservation Board) 2014 ABCA 285. failed to respond in a reasonable manner (i.e. failed to investi- On November 7, 2014, Chief Justice Whitmann concluded that that this particular negligence claim was not supported in law: the claim against Alberta Environment should not be struck he found that the ERCB owed no private law “duty of care” to and awarded Ms. Ernst her costs at triple the column she Ms. Ernst and that, in any event, any claim was barred by s 43 of received in the 2013 action. This article will first review the the ERCB’s enabling legislation (see Ernst v. EnCana Corporation, September 2014 Decision and then provide discussion around 2013 ABQB 537). The Alberta Court of Appeal dismissed Ms. Ernst’s the November 14 Decision. appeal. This article considers the regulatory negligence aspects of gate the incident). The ERCB filed a preliminary motion to have the action against it struck out. Chief Justice Wittmann agreed both the Queen’s Bench and Court of Appeal decisions. Background Ms. Ernst owns land near Rosebud, Alberta, and is suing EnCana A Primer on the Law of Negligence Corporation, the ERCB (now the Alberta Energy Regulator) and In Canada, a plaintiff has to prove five elements in order to estab- Alberta Environment (now Alberta Environment and Sustainable lish negligence: (1) that the defendant owed the plaintiff a duty Resources Development) for negligence in relation to the alleged of care; (2) that the defendant breached the applicable standard contamination of her groundwater as a result of EnCana’s hydrau- of care; (3) that the plaintiff suffered damages; (4) that these lic fracturing (fracking) activities in the area. With respect to the damages were caused by the defendant’s breach; and (5) that the ERCB specifically, Ms. Ernst’s alleged that the regulator, having damages are not too remote. The Ernst decisions are concerned been informed by her of potential groundwater contamination, only with the first and what is widely regarded as the most Your lands of opportunity await We have one of the largest independently-owned portfolios of fee simple mineral title in Canada with approximately 5.2 million acres of fee simple mineral title lands. www.prairiesky.com 11 THE NEGOTI ATOR / DEC EMBER 20 14 Please contact us if you are looking to lease simple fee mineral title or enter into other royalty arrangements. challenging element in proving negligence: whether the ERCB barred by s 43 of the Energy Resources Conservation Act in any event owed Ms. Ernst a duty of care in the first place. (since repealed and replaced with s 27 of the Responsible Energy The applicable legal framework was set out by the Supreme Court of Canada in Cooper v. Hobbart, 2001 SCC 79: Development Act). There are, of course, numerous good reasons why a court might choose to address all of the issues in a case such as this [30] … At the first stage of the [Anns/Cooper] test, two ques- one, not least of which is the fact that there is another regulator – tions arise: (1) was the harm that occurred the reasonably Alberta Environment – being sued for negligence here, one which foreseeable consequence of the defendant’s act? and (2) has not applied to have the action against it struck. Perhaps the are there reasons, notwithstanding the proximity between Courts wanted to make clearer to counsel the framework within the parties established in the first part of this test, that which the action against Alberta Environment will be assessed tort liability should not be recognized here? The proximity and give some sense of their predisposition to such actions. Along analysis… focuses on factors arising from the relationship these lines, it is reasonable to suggest that the Court of Appeal’s between the plaintiff and the defendant. These factors decision to state explicitly that which was not at issue before it, include questions of policy, in the broad sense of that word. including “whether the pleading against the defendant Alberta could be struck as being frivolous or vexatious” (Ernst v. Alberta at If foreseeability and proximity are established…a prima para 9), reflects judicial scepticism. facie duty of care arises. At the second stage…, the As for the duty of care analysis, although the outcome is the question still remains whether there are residual policy same in both decisions the analysis is actually quite different. considerations outside the relationship of the parties that Chief Justice Wittmann begins and ends his analysis at the first may negative the imposition of a duty of care. [Underlining stage of the Anns/Cooper test. Situating Ms. Ernst’s relationship in original] with the ERCB as more like that between the unsuccessful investors and the Registrar of Mortgage Brokers in Cooper than With respect to proximity, the Supreme Court has stated that this the miners to whom government inspectors were held to owe a involves looking at “expectations, representations, reliance, and duty in Fullowka v Pinkerton’s of Canada Limited, 2010 SCC 5, the the property or other interests involved” (Cooper). In the specific Chief Justice concluded that there was “no sufficient proximity context of regulatory negligence, the Supreme Court has recently to ground a private duty. Nor was there a relationship estab- distinguished between two situations: (1) where the alleged duty lished between Ernst and the ERCB outside the statutory regime of care is said to arise explicitly or by implication from the statu- which created a private duty” (Ernst v. EnCana at para 28). It was tory scheme (which the Court admits will be rare); and (2) where thus “unnecessary to determine whether the harm to Ernst was the duty arises from interactions between the claimant and the foreseeable. It is also unnecessary to consider the second part of regulatory authority (most relevant here) (see R. v. Imperial Tobacco the Anns test, that is, whether there would be any policy reason, Canada Ltd., 2011 SCC 42). In all cases, the driving determination is assuming proximity, to [not] impose a private duty” (at para 29). whether “it is just and fair having regard to that relationship [between The Court of Appeal, for its part, seemed to jump immedi- plaintiff and defendant] to impose a duty of care in law upon the ately to the second, “residual policy considerations” stage, laying defendant” (Cooper). out a series of reasons reflected in the case law as to why any As for the second, “residual policy considerations stage,” the prima facie duty of care owed by regulators is usually negated. Supreme Court in Hill v. HamiltonWentworth Regional Police Services These include the difficulty of distinguishing between policy and Board, 2007 SCC 41 (a case where police officers were found to owe operational decisions (the former being immune from liability), a duty of care to the suspects of crime) made clear that “even if a the potential for conflict between private and public duties, and potential conflict could be posited, that would not automatically indeterminacy problems (Ernst v. Alberta at para 17). In the Court negate the prima facie duty of care… A prima facie duty of care will of Appeal’s view, many of these considerations were relevant to be negated only when the conflict, considered together with other the case at bar: THE NEGOTIATO R / DEC EMBER 20 14 relevant policy considerations, gives rise to a real potential for negative policy consequences… a duty of care in tort law should [18] Forcing the Board to consider the extent to which it not be denied on speculative grounds.” must balance the interests of specific individuals while attempting to regulate in the overall public interest would 12 The Ernst Decisions be unworkable in fact and bad policy in law. Recognizing Perhaps the most striking aspect of both decisions is how much any such private duty would distract the Board from its space is devoted to the analysis of the ERCB’s duty of care in light general duty to protect the public, as well as its duty to deal of both courts’ conclusion that any claim against the ERCB was fairly with participants in the regulated industry. Any such … a fair reading of Hill suggests that an equally important factor was the very significant personal interest (i.e. liberty) at stake. individualized duty of care would plainly involve indeter- Discussion on the September 15 Decision minate liability, and would undermine the Board’s ability Canadian law professor Bruce Feldthusen has observed that to effectively address the general public obligations placed “[d]ecoding the law governing the negligence liability of statutory on it under its controlling legislative scheme. public authorities in Canada has always been a challenge,” and has suggested that it may be time revisit the basis upon which One might have expected the following paragraphs to elaborate liability for regulatory negligence will be founded.1 Certainly, on these otherwise fairly generic concerns. The Court of Appeal, recent events like the Lac Megantic disaster in Quebec and the however, then switched gears entirely and simply concluded Mount Polley spill in British Columbia do point to something that Chief Justice Wittmann “correctly applied the test for deter- rotten within the modern regulatory state to which the common mining whether the Board owed a private law duty of care to law of torts could potentially respond. the appellant” (Ernst v. Alberta at para 19). This conclusion is The Ernst case may or may not be the right one for such a jarring because, as noted, the Chief Justice did not even engage discussion. At the very least, however, it bears recalling that the the second stage. Rather, he focused on proximity and, adopting Supreme Court’s decision in Cooper is valued first and foremost what could be called the “spectrum” approach applied by Justice for bringing some much needed transparency to the duty of care Cromwell in Fullowka, concluded that the interactions between analysis. It would be preferable, then, for the Courts to apply the Ms. Ernst’s and the ERCB were more like those of the unsuc- Anns/Cooper test in a predictable, sequential manner – something cessful plaintiffs in Cooper than those of the miners in Fullowka. that both Courts failed to do here. The Court of Appeal actually dismissed Fullowka as an “anomaly” As noted above, the first step is to determine foreseeability of (Ernst v. Alberta at para 16), which if anything suggests that they harm. Contrary to the Court of Appeal’s assertion (Ernst v. Alberta didn’t agree with the Chief Justice’s approach at all. at para 16), this is actually something that most regulatory THE NEGOTI ATOR / DEC EMBER 20 14 13 THE NEGOTIATO R / DEC EMBER 20 14 negligence plaintiffs have very little difficulty establishing (see are therefore entirely dependent on the adequacy of the regula- e.g. Cooper at para 42, Hill at para 32, Imperial Tobacco at para 57). tory regime. It is precisely because foreseeability represents a relatively low Turning to the second, “residual policy considerations” stage, bar that finding a prima facie duty of care requires both foresee- it is not obvious to me how owing a private law duty to those ability and proximity. As in Cooper, then, it seems reasonably individuals particularly vulnerable or susceptible to a regulator’s foreseeable that Ms. Ernst would suffer some harm if the ERCB negligence would be unworkable. Generally speaking, regulators were negligent in carrying out its duties, especially with respect like the ERCB and Alberta Environment are not monolithic entities to enforcement. – they have branches that carry out specific functions, includ- With respect to proximity, the “spectrum of regulatory rela- ing a compliance and enforcement branch. When this branch is tionships” approach applied by Justice Cromwell in Fullowka and engaged, the problem of indeterminacy would seem to be largely adopted by Chief Justice Wittmann may be a good place to start resolved: compliance activities are concerned with specific inci- but it also has the potential to mask important distinctions. dents at discrete locations. The Supreme Court’s approach in Hill, For example, although there were differences in the relationship which affirmed the existence of a tort of negligent investigation and interactions between the plaintiffs and the relevant public but also recognized the role of the standard of care in mediat- authorities in Cooper (the registrar of mortgage brokers and ing the spectre of liability (i.e. perfection is not required) seems investors) and Hill (the police and their suspects), a fair reading perfectly suited for such situations. At the very least, however, of Hill suggests that an equally important factor was the very defendants should have to explain – and the courts should set significant personal interest (i.e. liberty) at stake. Arguably, Ms. out in their reasons – the overarching policy considerations that Ernst’s interest in the safety of her water supply is more like justify negating any prima facie duty of care in the specific instance the interest in Hill than in Cooper, which was a case for pure before them. economic loss – a category of negligence claims that Canadian The Alberta Court of Appeal is certainly correct that there are courts are particularly wary of. Another seemingly relevant a number of reasons why a duty of care is not generally placed on distinction between Cooper and Ms. Ernst is that the plaintiffs in a regulator (Ernst v. Alberta at para 17), but it is equally true that Cooper were voluntary investors, whereas landowners in Alberta sometimes it is, and that regulatory negligence is a recognized cannot refuse oil and gas activity on or around their lands and tort in Canada. Bus (403) 229-1500 Fax (403) 245-0074 Shawn Irwin, President eml. [email protected] 1250, 396 – 11th Ave S.W. Calgary, AB T2R 0C5 www.petroland.ca Representatives in: Calgary, Edmonton, Lethbridge, Regina, Carlyle, Grande Prairie, Victoria Surface Acquisitions Pipeline Right-of-Way Crown Sales Mineral Acquisitions Rent Reviews Confidential Deals Damage Settlements Public Consultant & Notification 14 Discussion on November 7, 2014 Decision action – a plaintiff must still prove that the defendant breached This decision would seem to set a new standard for the transpar- the applicable standard of care and that this breach caused the ent and thoughtful analysis of the duty of care. Substantively, and plaintiff’s damage. This is a complete response to those who beginning with the first stage of the Anns test, I do have some argue that such litigation imposes undue hardship on govern- concerns about the potential implications of an analysis that seems to hinge on whether a regulator or other agency puts actual boots on the ground (the key factual difference between the ERCB ment regulators. m Martin Olszynski and Alberta Environment). As the Chief Justice observed in Ernst I, a private duty cannot arise simply because an individual commu- Notes nicates with a regulator (at para 28); the flip side of this is that a 1. Bruce Fledthusen, “Simplifying Canadian Negligence Actions duty of care should not be avoidable simply by refusing to show Against Public Authorities – or Maybe Not” (2012) Tort L Rev 176 up. In my view, there are other relevant factors that can support at 176 and 184. or negate a conclusion of sufficient proximity. For instance, it seems relevant that in Alberta landowners cannot refuse oil and gas activities on their lands and are therefore entirely dependent * For further reading and updates to this case, please see www. ablawg.com. on the regulators to ensure that such activities are conducted in a safe and environmentally sound manner. With respect to the second stage, the Chief Justice was right Martin Olszynski is an Assistant Professor of Law at the University of Calgary, Faculty of Law. to not blindly accept Alberta Environment’s arguments about A previous version of this article first appeared in potential conflict between private and public duties and indeter- ABlawg, the University of Calgary Faculty of Law Blog. minacy. As I noted in my previous post, the Supreme Court has been clear that the “residual policy consideration” stage is not the place for speculation and generalizations (see e.g. Hill). The Chief Justice was also correct, in my view, to remind government counsel that finding a duty of care is not dispositive of the negligence & transactions Contact Jaguar Land 403-718-0525 jaguarland.ca 15 THE NEGOTI ATOR / DEC EMBER 20 14 Are you missing pieces to your pending A&D transaction? Jaguar Land’s Quality, Focused and Value Driven Land Professionals can put the pieces together. 2015 CAPL Squash Tournament Saturday, March 7, 2014 at 5:00 p.m. The Glencoe Club: 636 – 29 Ave S.W., Calgary, AB Entry Fee: $75.00 (Includes GST, a shirt, prizes, food and beverages) impact the number of players eligible to play. As a result of this downsizing, the first forty player entries received will be accepted – so get your entry form in early! On Saturday March 7, check in at the West entrance of the Glencoe and head down to the squash courts. Dinner, prizes, refreshments and some night bowling will follow in the Bowling Alley at the Glencoe after the tournament. Please complete the entry form on the CAPL website and send it with your cheque made out to “2015 CAPL Squash Tournament” to Rob Bodzioch at TORC Oil & Gas Ltd., Suite 1800 Eighth Avenue Place, 525 8 Ave. SW, Calgary AB T2P 1G1. The tournament is a great way to promote and market your company and yourself. If you are interested in sponsoring this event please contact any of our committee members: Rob Bodzioch: [email protected] Shaun Cooper [email protected] Jordan Murray [email protected] Nathan Laviolette [email protected] We would like to welcome all CAPL members and their guests to the 2015 CAPL Squash Tournament. This tournament is a great time and suited for Travis Monk [email protected] Brad Johnston [email protected] Brodie Barkway [email protected] all levels of players from beginners to the most competitive. Due to recent renovations at the Glencoe Club, the squash area has been reduced to five playing courts which will unfortunately * Please note that white clothing is required for racquet sports at the Glencoe Club. m ‘Tis the season for savings, on acquisition & asset management software! LandRite THE NEGOTIATO R / DEC EMBER 20 14 iLand Contact us today to learn more. P: 587.952.8000 16 | E: [email protected] 2014 Merit Awards for an award for 2014? If you have received any such awards in the past (and we have a bevy of recipients) – ask yourselves who most resembles you? The brightest, the best and the most devout members, corporations and individuals associated with CAPL deserve our recognition. All nominations are kept confidential. By policy, the Merit Awards Committee itself cannot make any Time to Nominate! Your 2014/2015 Committee will be pleased to receive nominations (award category descriptions and forms to be filled out are soon to be available on the CAPL website) for all awards. Ask yourselves: Who do I see as a deserving recipient nominations so we depend on you to provide these to us. Questions – please contact any of the following volunteers: Larry Buzan (Chairperson), Robyn Baron, Suzanne Stahl, Rob Pettifer, Brad Reynolds or Kent Gibson, Director, Member Services. m YOU HAVE A LOT ON YOUR MIND – WE CAN HELP With extensive experience in the oil and gas sector and a strong energy regulatory practice, our Calgary office is perfectly positioned to assist Western Canada’s energy industry. Randy Madsen Jason Paton Jay Lalach Bernadita Tamura-O’Connor #1 regional law firm in British Columbia, Alberta and the territories, Canadian Lawyer magazine (2010-2014). 17 THE NEGOTI ATOR / DEC EMBER 20 14 Paul Negenman Board Briefs The key discussion items at the CAPL Board of Directors’ Meeting held November 4, 2014 at Talisman’s offices were as follows: • Larry Buzan updated the Board on the Centralized Marketing initiative. A Centralized Marketing Committee will be struck consisting of members from the Conference Committee and the Golf Committee. This Committee will be tasked with creating a suite of marketing opportunities for current and potential spon- In Attendance M. Radomski B. Reynolds A. Weldon G. Richardson J. Covey M. Cookson C. De Ciancio A. Webb K. Gibson L. Buzan Absent Guests Joanna Shea Kevin Egan Michelle Creguer Nikki Sitch P. Mandry sors. A brochure will be created detailing the various services and support the CAPL provides to its membership, the local community and industry as a whole. This brochure will help educate sponsors on what their contributions are supporting. • Michelle Radomski updated the Board on the formalization of code of conduct expectations for the CAPL office and all CAPL volunteers. Job descriptions and expectations, succession plan- • Kevin Egan was invited to present a leadership training course that he recommends adding to the educational courses currently ning and formal performance reviews for the office staff are all being implemented. offered by the CAPL. The course is run by Knightsbridge and would cater to more senior level CAPL members. The course • Michelle Radomski updated the Board on the upcoming Industry would run over two days and it is proposed that the content be Night in January. Michelle recommended inviting govern- customized for landmen at an additional cost. ment representatives from the various oil and gas producing provinces. • Larry Buzan, Director of Finance, presented a Treasurer’s Report as at October 30, 2014, showing CAPL investments totalling • Gary Richardson advised the Board that the Public Relations $979,188.46 CDN along with a cash balance of $258,000.74 Committee will bring the CAPL booth to Agri-Trade in Red Deer CDN having paid out $362,274.90 in the month of October for (November 5-8) and the Oil & Gas Education and Career Info a total of CAPL investments of $1,237,189.20 CDN. The CAPL Fair at Mount Royal College (November 19). The PR Committee Scholarship Fund has a balance of $244,137.41 CDN. There were also plans to send representatives to the Regina Agribition no transfers made since the last report. (November 24-29) and Junior Achievement of Southern Alberta (November 28). A $500 donation will be made again by CAPL this • Kent Gibson presented five Active, and three Student member- year to the later. ship applications to the Board of Directors, which were subsequently approved. • Michelle Radomski reminded Directors of the following: • The next Board of Directors’ Meeting will be held on December • Mandy Cookson advised the Board that the new website is scheduled to launch on December 1. The new website will include a cleaner and more user friendly design with current industry updates on the front page and a suggestion box area THE NEGOTIATO R / DEC EMBER 20 14 for members to submit ideas, comments, etc. to the Board. There are ongoing development plans after the launch to 18 2, 2014. • The next General Meeting will be held at the Westin on November 13, 2014. • The next Networking Night will be held at the Petroleum Club on December 10, 2014. m update membership profiles, revamp online event registration Andrew Webb and more. Secretary/Director, Social Q3 M&A Report Corporate Financial Services ™ October 31, 2014 CANADIAN M&A METRICS Annual Results Number of transactions Total sample dollar value C$BN Total Proven Reserves ($/BOE) Proven + Probable Reserves ($/BOE) Per flowing BOE Production Cdn Par / Cdn Light (C$/bbl) - Sept/14 AECO average (C$/mcf) - Sept/14 USD FX price (month end in C$) 2008 111 $13.3 $27.97 $17.51 $59,530 $102.19 $8.16 1.2246 2009 122 $41.0 $25.68 $16.35 $56,227 $65.87 $3.96 1.0466 2010 138 $24.5 $24.10 $17.30 $64,648 $77.50 $4.01 0.9946 2011 121 $9.5 $25.72 $18.29 $65,093 $95.04 $3.63 1.0170 $18.00 $17.51 $16.35 $17.30 $18.29 $80,000 $17.22 2014 132 $20.9 $18.71 $12.83 $57,724 $100.58 $4.82 1.1275 $73,400 $64,648 $16.00 $14.00 2013 93 $10.2 $18.31 $12.76 $58,769 $92.83 $3.18 1.0636 Flowing BOE Production Proven + Probable Reserves ($/BOE) $20.00 2012 130 $43.4 $22.93 $17.22 $73,400 $86.16 $2.39 0.9949 $12.76 $59,530 $60,000 $12.83 $65,093 $56,227 $58,769 $57,724 2013 2014 $12.00 $10.00 $40,000 $8.00 $6.00 $20,000 $4.00 $2.00 $0.00 2008 2009 2010 2011 2012 2013 $0 2014 2008 2009 2010 2011 2012 Quarterly Results Number of transactions Total sample dollar value C$MM Total Proven Reserves ($/BOE) Proven + Probable Reserves ($/BOE) Per flowing BOE Production Proven + Probable Reserve Life Index (years) Light Oil Weighted transactions (> 70%, $ per BOE) OIL - Proven + Probable Reserves OIL - Per flowing BOE Production Gas Weighted transactions (> 70%, $ per BOE) Gas - Proven + Probable Reserves Gas - Per flowing BOE Production Q2 13 18 $2,042 $19.99 $11.67 $51,711 13.0 7 $18.72 $81,892 4 $5.81 $21,181 Q3 13 29 $3,652 $16.58 $10.52 $55,813 15.7 2 $18.85 $86,552 7 $5.87 $23,204 Q4 13 31 $4,196 $18.81 $14.86 $66,594 17.3 10 $18.17 $89,203 2 $3.14 $20,745 Q1 14 31 $6,318 $18.11 $13.60 $50,055 13.3 7 $23.68 $88,509 13 $5.20 $26,674 Q2 14 40 $8,705 $19.24 $12.95 $63,840 18.2 12 $20.55 $89,492 9 $5.10 $31,192 Q3 14 49 $3,009 $18.38 $12.26 $62,169 11.9 10 $20.17 $100,743 9 $6.83 $28,266 Q4 14 12 $2,844 $20.28 $11.32 $48,836 12.3 3 $32,433 Average Prices - Sept 2014 Canadian Par / Cdn Light (C$/bbl) Canadian Heavy (C$/bbl) AECO gas price average (C$/mcf) USD FX price (month end in C$) Q2 13 $92.16 $79.30 $3.54 1.0512 Q3 13 $104.71 $93.01 $2.45 1.0285 Q4 13 $86.28 $69.75 $3.52 1.0636 Q1 14 $99.80 $84.13 $5.75 1.1048 Q2 14 $104.18 $90.73 $4.69 1.0661 Q3 14 $97.75 $84.40 $4.02 1.1208 Q4 14 1.1275 Flowing BOE Production Proven + Probable Reserves ($/BOE) $16.00 $14.86 $13.60 $14.00 $12.00 $80,000 $12.95 $11.67 $12.26 $10.52 $66,594 $11.32 $60,000 $51,711 $62,169 $50,055 $10.00 $8.00 $63,840 $55,813 $48,836 $40,000 $6.00 $4.00 $20,000 $0 $0.00 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Q2 13 Q3 13 Q4 13 Q1 14 Q2 14 Q3 14 Q4 14 Questions? Please contact: Craig Mathison @ (403) 731-3822; [email protected] This report is provided for informational purposes only. While ATB Financial believes the information to be reliable, ATB Financial does not guarantee, or make any representation as to its accuracy or completeness. The information is not to be construed as offering investment or financial advice and ATB Financial will not be liable for any loss or damage resulting from its use. 19 THE NEGOTI ATOR / DEC EMBER 20 14 $2.00 Get Smart The CAPL Education Committee is pleased to present the following courses: Preparing for a Surface Rights Board Hearing (PSL®) December 04, 2014 8:30 a.m. to 4:30 p.m. teams achieve more collectively than they could on their own. Using Patrick Lencioni’s book The Five Dysfunctions of a Team as a template, this day long seminar teaches participants how to This course will begin by covering the types of surface rights board strengthen their teams, improve their self-awareness and sharpen hearings, including compensation, rent review, damage claims their leadership skills. The course also includes a number of prac- and back rent. The next section will focus on the structure of the tical exercises that can be used to overcome hurdles that stand in hearing and deal with procedural elements, evidence taken under the way of building an effective team. oath, direct and cross examination of witnesses and questions from the board. From there the course will focus on evidentiary Directive 056: ERCB Energy Development Applications Public issues like the burden of proof and discuss privacy issues before Consultation Requirements (PSL®) closing by discussing the orders ultimately issued by the board. Overcoming the Five Dysfunctions of a Team December 09, 2014 8:30 a.m. to 4:30 p.m. December 10, 2014 8:30 a.m. to 4:30 p.m. The AER (the “Board”) believes that appropriate notification and public consultation must be conducted well in advance of the submission of an application to the AER. It must be thorough This seminar is built on the assumption that great teams enough to allow all parties who are affected to be sufficiently attract great team players, and that great team players on great aware of not only the proposed project, but the Board process THE NEGOTIATO R / DEC EMBER 20 14 PEACE Merry Christmas, from our family to yours. 20 as well. The Board believes that the public must have sufficient information to participate meaningfully in the decision making process, to voice their concerns and have their concerns heard and properly addressed and, if possible, resolved. The proponents information must be extensive, consistent, factual and must be disclosed in a timely manner, and if the proposal is part of a larger project, the proponent should be prepared to discuss the entire Crown Land Sales and Freehold Mineral Leasing project and explain how its components compliment other energy development plans in the area. This seminar helps proponents understand the public consultation requirements, expectations of the AER and assists companies in completing the application or audit processes for regulatory compliance. Negotiation Skills for Surface Land Agents (PSL®) December 11, 2014 8:30 a.m. to 4:30 p.m. This seminar will examine the common struggle we often experience between meeting our substantive needs in the negotiation while maintaining or improving the working relationship. This workshop also provides a number of interactive industry related negotiation scenarios during the day that allow the participants an opportunity to apply the skills learned during the early stages of the workshop. ROFR Issues: An Interpretive Approach January 21, 2015 8:30 a.m. to 4:30 p.m. This seminar is intended for senior level landmen who are responsible for analyzing various situations in which ROFR issues may arise and recommending or implementing appropriate corporate responses thereto. The morning will be devoted to a presentation of legal principles and the afternoon a round table discussion of ROFR issues. SYNERGY LAND would like to remind all of our CAPL colleagues that we are ready and able to assist with your mineral leasing needs. Several of our agents are well versed in negotiating freehold mineral agreements, and we attend land sales in all of the Western Provinces. Call James McCorquodale at (403) 930-3301, and our team will help you develop the budget and timeline for your 2015 mineral acquisitions. Surface Land Fundamentals January 22, 2015 8:30 a.m. to 4:30 p.m. This course is provided for professionals such as mineral landmen, engineers, geologists and other project managers who either work with their surface land department or manage their surface land group as part of a larger team. Individuals new to the land industry would also benefit from this course; some knowledge of Please note that as of November 1, 2014, Synergy Land Services Ltd. will be located at: 200, 2710 – 17 Avenue SE Calgary, AB T2A 0P6 surface land is beneficial but not required. Economic Considerations for Land Deals 8:30 a.m. to 4:30 p.m. This seminar is intended for senior landmen and individuals involved in conducting project economic evaluations. Emphasis is on the use of economics to assist in the structuring and evaluation of land deals. m Pursuing Perfection www.synergyland.ca | 1.877.961.LAND (5263) 21 THE NEGOTI ATOR / DEC EMBER 20 14 January 28 & 29, 2015 Standard Land Since 1994, Standard Land’s experience in negotiating land access in highly sensitive environments with multiple stakeholders has served a single purpose: success. Let us put our experience to work for you. CORE SERVICES » Everything “Land” From simple consultation to large-scale project management, Standard Land expertly manages it all: • Freehold Mineral Acquisition • Crown Sales • Surface Land • First Nations Consultation • Non Routine Project Management • Surface and Regulatory Compliance • Full suite of additional Services KEY PERSONNEL Surface Acquisition: Randy Funkhouser [email protected] Mineral Acquisition: Mikala Hansen [email protected] With over 100 employees across Canada, contact Standard Land to discuss your project today. Crown & Mineral Administration: Terri Dechka [email protected] FULL SERVICE PROVIDER OF LAND SERVICES Head Office Calgary Tel: 403-265-1116 1300, 734 - 7th Ave SW, Calgary, AB T2P 3P8 [email protected] www.standardland.com Calgary: 1-866-858-1116 Vancouver: 1-877-687-1102 Standard Land Company Inc Regina: 1-866-441-2039 Winston E. Gaskin, President Toronto: 1-877-598-1116 The Negotiator’s Message From the Board meetings. This committee also reviews all Honorary, Senior and Life memberships annually. If necessary those statuses will also be approved through the CAPL Board of Directors. Year to date, the committee has processed 34 Active, 4 Associate and 40 Student membership applications. Committee Members Colin Kay (Committee Chairman), Colleen Cochrane, Guido De Ciancio, James Armstrong, Josh Truba, Mark Grierson, Noel Millions, Robyn Baron, Member Services The Member Services Portfolio is devoted to maintaining a superior Association with high quality members, opportunities and benefits. Although I have only and Troy Cameron. Merit Awards Committee Every year, CAPL recognizes individuals and organizations that have made extraordinary contributions to the Association and its community. This committee is responsible for seeking out and gathering the nominations from CAPL members. There are many been working with Member Services for a short time, it has been outstanding contributions that have been made and it is essential exciting to work with this professional and committed group that we receive member participation, for input and nominations, of volunteers. It is the incredible volunteers that define CAPL, to ensure they are recognized. making it a valuable Association for its members. The awards that are presented are the Herb Hughes As of October 2014, our membership consists of 1,558 Active Memorial, CAPL Distinguished Citizen, CAPL Award of Merit, CAPL members, 122 Senior members, 75 Associate members, 49 Life Outstanding Graduate, Bright Lights, Volunteer Supporter, and members and 46 Student members. Friends of CAPL. If you know of any individual or organization that Member Services is divided into three committees which over- would be eligible for one of these awards, please don’t forget to see membership admissions, the Merit Awards, the CAPL roster, make those nominations. member benefits and compensation. Committee Members Membership Admissions Committee Larry Buzan (Committee Chairman), Brad Reynolds, Rob Pettifer, Robyn Active, Associate and Student membership applications go Baron, and Suzanne Stahl. through a three step process. They are first sent to the CAPL office where they are reviewed to ensure all forms are filled CAPL Roster out correctly and membership information about sponsors is It is very common for individuals in our membership to change accurate. The applications are then sent to the Membership companies and move to different opportunities throughout their Admissions Committee, who meet once a month, to confirm careers. It is essential for us to keep our online database and all application requirements are satisfied. If the Admissions Roster updated as these changes occur. Irene Krickhan at the Committee approves the application it is then sent to the CAPL office is responsible for adding individuals to the Roster and Director of Member Services who will present the applications making all the required changes. The majority of our membership qrtrhoriz4CfinPage as a motionElexco_Negotiator to the CAPL Board of Directors at1 the6/24/11 monthly7:47:54 Board PM uses the Roster on a regular basis, and thanks to Irene’s hard work A FULL SERVICE LAND COMPANY SERVING NORTH AMERICA Elexco Ltd. Canada: 1.800.603.5263 www.elexco.com Elexco Land Services, Inc. New York: 1.866.999.5865 Michigan: 1.800.889.3574 Pennsylvania: 724.745.5600 23 THE NEGOTI ATOR / DEC EMBER 20 14 • Mineral and Surface Leasing • Right-of-Way Acquisitions • Mineral Ownership/Title Curative • Seismic Permitting • Mapping/GIS Services • Abstracts of Title we can rely on it. Please keep in mind that it is your responsibility Administration, and Land Management. Once the job family was to make sure your information is correct and up to date, so please identified it was again split out into six levels of experience from continue to do so. Entry Level to Executive Level. A lot of work went into putting this survey together, so I want to thank everyone who partici- Member Benefits pated in the survey and each individual within the committee Another aspect of the Membership Services portfolio is to oversee that made this valuable piece of information available to our our member insurance benefits. Each year the Director of Member membership. The results of the survey can be found under the Services reviews our policies with Nexgen Financial to ensure our 2014 CAPL Compensation Survey link on the Members Only page members are receiving top value from our policies. Benefits to all of the CAPL website. Active and Lifetime members include Best Doctors, accidental death/dismemberment, and life insurance. Committee Members Some additional benefits that were made available to our Bob Bachynski (Committee Chairman), Adam Wolfenden, Amanda membership in 2013 include discounts on services from various White, Bonnie Cioni, Colleen Bailey, Craig Bisschop, Danell Kokol, Diane organizations. These discounts can be found under the Additional VanderVeen, Heather Stables Fofonoff, James Armstrong, Lynn Viehweger, Membership Benefits link on the Members Only page of the CAPL Sharon Gordon, and Teresa Strom. website. If you haven’t had a chance to look at the discounts available to you, I recommend taking the time to do so. The discounts Thank you once again to all of the great volunteers that make currently available to CAPL members include personal insurance, CAPL such a successful and valuable Association for its members. a land tool, and fitness membership. Also, a big thank you to the CAPL office staff: Denise Grieve, Karin Steers, Irene Krickhan and Kaitlin Polowski for all their hard work Compensation Survey Committee In Q1 2014 a compensation survey was sent out to membership, of which 629 members participated. For relevance the survey data Kent Gibson was split into six different job families: Negotiations, Contracts Director, Member Services THE NEGOTIATO R / DEC EMBER 20 14 Landman, Surface Land Agent, Acquisitions and Divestitures, 24 and support. m Roster Updates New Members The following members were approved by a Motion on November 4, 2014: Applicant Current Employer Sponsors Raging River Wayne Ellis Active Meghan Hockaday Exploration Inc.John Miele Sheila Howe Walter Vrataric Imperial Oil ResourcesJohn Charuk Mark Pinsent, P.Land Seeking Renewed Depth In A Land Services Provider? Greg Strachan, P.Land Amy Jones ConocoPhillips CanadaMichelle Forrest Jessica Jonassen Sean McLeod Irene Mercer Spyglass ResourcesMarilou Corsino Corp.Ann Janicki Cindy Miller Karen Middleton TAQA North Ltd.Linda Bourcier Karen Hertel Cari Williams Student Tate Aronovich Olds CollegeNicola Millions-Hollamby Colleen Miller Mount Royal UniversityJillian Philpott Danielle Suchan Mount Royal UniversityJillian Philpott m On the Move Aim Land Services Ltd. to ATCO Pipelines a division of ATCO Group Trevor Burke Penn West Exploration to Centrica Energy Canada Ruth Cross Kingsmere Resources Ltd. to Sifton Petroleum Inc. Brad Crowe Tiercel Energy Inc. to Independent Jaquelyn Djuranic Independent to TransCanada Sharon Gordon, P.Land Sentinel Enterprises Inc. to Manitok Energy Inc. George Hardisty West Valley Energy Corp. to Independent toll free: 1.877.998.1500 | www.integrityland.com 25 THE NEGOTI ATOR / DEC EMBER 20 14 Nathaniel Barker Integrity Runs Deep Ryan Heath Hyperion Exploration Ltd. Russell Ray Visser Consulting Ltd. to Striker Exploration Corp. to Visser Deloitte Lewis Johnson Birchcliff Energy Ltd. Korey Revenco Visser Consulting Ltd. to Independent to Visser Deloitte Amy Kalmbach, P.Land Incipient Exploration Ltd. Karen Riep Indian Oil and Gas Canada to Striker Exploration Corp. to Independent Jeff Leggett Shell Canada Energy Craig Ruddy PrairieSky Royalty Ltd. to Seven Generation Energy Ltd. to Independent Zack MacPhee Scott Land & Lease Ltd. Steve Sawyer Harvest Operations Corp. to Brion Energy to Plains Midstream Canada Mark Mason Cenovus Energy Inc. Steven Schneider Independent to Brymark Energy Inc. to OMERS Energy Inc. Curtis McLauchlin Southern Pacific Resources Corp. Jennifer Schroeder PrairieSky Royalty Ltd. to TransCanada to Independent Wade McLeod Independent Peter Sticksl Mosaic Energy Ltd. to Scott Land & Lease Ltd. to Independent Steve Moran Stellavista Capital Corp. Jared Tchir Integrity Land Inc. to Corridor Resources Inc. to TransCanada Ken Murias Arriva Energy Inc. Nolan Treble, PSL Penn West Exploration to Baseline Oil & Gas Inc. to Legacy Oil + Gas Inc. Brett Norrie Husky Oil Operations Limited Robert Welch Lone Pine Resources Canada Ltd. to Tourmaline Oil Corp. to Independent John Parry TBS Energy Corp. Kevin Wolters Penn West Exploration to Revel Resources Corp. to Independent Sherry Phan Imaginea Energy Corp. to Independent Christina Wong Rife Resources Ltd. to ConocoPhillips Canada Craig Pittman, P.Land Independent to Pengrowth Energy Corporation Troy Wylie Independent to Visser Deloitte m THE NEGOTIATO R / DEC EMBER 20 14 w w w. p r o g r ess l a n d . c o m 1.866.454.4717 12831 – 163 Street, Edmonton, Alberta T5V 1M5 26 Capl General Meeting and Industry Night Introducing a New Meeting Format January 15, 2015, 4:00 PM Calgary Westin Hotel at 5:15 p.m., with a theatre-seating layout and time allotted for Q&A. By 6:30 p.m., members and their guests will be invited to walk about the cocktail/buffet reception and visit with the many volunteers representing numerous CAPL Committees, our invited Government Oil & Gas Ministry representatives and select industry information service providers. Deborah Yedlin Calgary Herald Business Columnist Taking Care of Business, The Calgary Way Deborah has covered the The CAPL Board of Directors has decided to make an exciting format change to the formal 2015 Management Night Dinner and General Meeting. The inaugural 2015 CAPL Industry Night is being energy sector as a colum- introduced for our members to invite, not only our managers, Globe and Mail and is currently but all of our technical peer group (the geologists, geophysicist, the business columnist with engineers, CEOs, CFOs, etc.) as guests, to join us for an evening the Calgary Herald. Prior to her of informative networking and the opportunity to listen to career switch to journalism, our keynote speaker, Deborah Yedlin, Calgary Herald Business Deborah worked as an invest- Columnist. The evening will start with a cash bar and hors ment banker on Wall Street and d’oeuvre service at 4:00 p.m. The General Meeting will be held Bay Street. Deborah holds a B.A. in Economics from the University promptly at 5:00 p.m. and the keynote speaker will then present of Alberta, an MBA from Queen’s University and is a member of her thoughts on “The Energy Eco-System: Land, Labor and Capital” nist and radio commentator for CBC since 1996. She has worked for the Financial Post, the Institute of Corporate Directors. m THE NEGOTI ATOR / DEC EMBER 20 14 27 2015 CAPL Conference At the 2014 conference in Jasper, the location of the 37th annual conference was revealed – St. John’s, Newfoundland and Labrador. In Jasper, in keeping with Newfoundland’s unique culture, 20 individuals (or “come-fromaways”) were ‘Screeched-In’, complete with the requirement to kiss the cod. All were presented with a certificate to officially recognize them as Honourary Newfoundlanders. This is the first time the conference is heading to St. John’s. Many oil and gas companies have offices in St. John’s, including majors ExxonMobil, Husky, Statoil, Suncor and Chevron, and hundreds of industry service companies. St. John’s harbour is one Newfoundland and Labrador seems to be on everyone’s bucket of the busiest in Canada, largely supporting offshore oil produc- list, so the conference presents a great opportunity to make the tion and seismic/drilling operations. trip, not only for the conference but to spend some time exploring Downtown St. John’s looks a lot like Calgary with construction the Rock. Besides the great program we’ll offer many activities cranes for new office buildings, new condos under construction, for delegates and guests to heighten their experience in Canada’s and many renovation youngest Province. projects. The airport We’ve made arrangements with the Sheraton Newfoundland is under expansion hotel as our host which has recently undergone an 11 million including dollar renovation. installa- tion of GPS so planes can land in the fog! Our theme is Please join us in St. John’s, Newfoundland and Labrador, from Sunday September 20 to Wednesday September 23, 2015. m Navigating the Future, I’m pleased to introduce the committee executive: a nod to the mari- Chair Colin McKinnon time location and Administration Colleen Allen central organizing principal of our program. We’ll focus on the Finance Dave Bernatchez landman’s role in our dynamic industry. We’ll consider how the Program Denis McGrath landman’s traditional role has evolved to today’s negotiating Activities Mary Gothard and Kelly Pypers landmen. Negotiating landmen may need to broaden their scope Marketing Gary Cole THE NEGOTIATO R / DEC EMBER 20 14 to extend a unique and valuable skill set. We’ll also gaze into the crystal ball with a broader look at what the future holds for the Colin McKinnon industry and our profession both onshore and offshore. Chair of the 2015 CAPL Conference Land Acquisitions Freehold Mineral Secialists Surface Acquisitions Pipeline Right-of-Way Rental Reviews Damage Settlements Crown Sale Attendance Title Registration Potash Projects Wind Generation Projects Suite 201, 2629 – 29th Avenue Regina, Saskatchewan S4S 2N9 28 WESTERN CANADA LAND SALE and DRILLING RIG REVIEW October 2014 Land Sale Data 5,000.00 British Columbia Alberta Saskatchewan AREA Manitoba BC 4,500.00 4,000.00 3,500.00 Average $/Ha 3,000.00 Total Ha Sold Average $ / Ha 14,360 $997 AB - Foothills 20,992 $588 AB - Plains 38,557 $169 AB - Northern 81,728 $563 SK 29,215 $739 MB no sale NOTE: Numbers are rounded 2,500.00 2,000.00 1,500.00 1,000.00 500.00 0.00 Drilling Rig Utilization Rate Drilling Report for Last 5 Years 70% 60% 50% 900 40% 800 700 600 Drilling 500 Down 400 Total 300 Total Down Drilling 200 100 0 October 2009 October 2010 October 2011 October 2012 October 2013 October 2014 30% Utilization Rate 20% 10% 0% October 2009 October 2010 October 2011 October 2012 October 2013 October 2014 THE EXPERTS IN LAND ACQUISITION AND MANAGEMENT SERVICES. LandSolutions LP #200, 601 - 10 Ave SW Calgary, AB T2R 0B2 1-866-834-0008 www.landsolutions.ca Student’s Corner she is someone that I can contact for advice at any Women in Energy When I first heard about the Petroleum Land Management (PLMA) program at the University of Calgary, I was hesitant to apply for a couple of reasons. To begin, the application process to enter the given program was extensive, and required both commitment and dedi- try mentor assigned cation. Secondly, I had heard that there were few females in this to me line of work, which I had also inferred due to the job title itself the University being “Landman.” However, I was pleasantly surprised to discover Calgary PLM Mentor that the latter information was inaccurate. I entered the program Program. She has also been an incredible source of knowledge and to learn that not only would I be in the 2014/2015 graduating class encouragement for my studies and has introduced me to several with five other women, but that these women would also become key people in this industry. time who has an sive background exten- in Land. Connie is my “official” industhrough of L to R: Taylor Blanchard, Brittany D’Adamo, Dinora Santos, Natalie Gillespie, Julia Sande and Sumeet Brar good friends that I would share similar interests with! I was also As we finish off our final year of studies, it is our hope as surprised to discover from my networking experiences that there a female student group, that we will continue to make strong are many successful female Landmen, who are key contributors in connections with both men and women in our chosen field that the success of the companies they work for. will assist us in our future careers as Landmen. In addition to this, Two women in particular who have been an inspiration to me thus far in my journey have been Alexis Watson, who is currently a Senior Landman at ConocoPhillips Canada, and Connie De Ciancio, we hope to one day be mentors ourselves, to both the women and men in the PLMA program! Happy Holidays from the PLMA student group! who is Vice President, Land at Mosaic Energy. Alexis was one of my points of contacts when I first heard about the PLMA program, and Dinora Santos I have had the privilege of working under her this past summer; Fourth Year PLMA Student m Celebrating 65 years of land surveying and geomatics THE NEGOTIATO R / DEC EMBER 20 14 in Western Canada. Service Beyond Boundaries. www.midwestsurveys.com 30 The Social Calendar Event DATE TIME LOCATION COST (INCLUDING GST) CONTACT NAME CONTACT PHONE CONTACT EMAIL REGISTRATION DEADLINE CAPL Christmas Networking 10-Dec-14 4:00 PM Calgary Petroleum Club Student Members: Free Non-Members: $94.50 Karin Steers (403) 237-6637 [email protected] 3-Dec-14 CAPL January Meeting 15-Jan-15 5:00 PM The Westin Hotel Members: $42.00 Student Members: $42.00 Non-Members: $94.50 Kaitlin Polowski (403) 237-6637 [email protected] 8-Jan-15 CAPL Ski Trip 30-Jan-15 7:30 AM Lake Louise Members: $135 Non-Members: $150 Natalie Carson (403) 476-7530 [email protected] 23-Jan-15 CAPL Squash Tournament 7-Mar-15 5:00 PM The Glencoe Club $75.00 Rob Bodzioch (403) 930-4184 [email protected] 6-Mar-15 * Please note: Registration forms can be downloaded from the CAPL website: General Meetings: http://landman.ca/events&meetings/general_meetings.php Social: http://landman.ca/events&meetings/social_events.php Have a very Merry Christmas and Best Wishes for the Holiday Season! 1-866-528-2558 Medicine Hat 1-855-425-2530 Edmonton actionland.ca 31 THE NEGOTI ATOR / DEC EMBER 20 14 [email protected] CAPL Calendar of Events December Meeting December Reception: 4:00 p.m. 1 2 2 3 3 4 9 9 10 10 11 17 25 26 Saskatchewan Land Sale Tuesday Board Meeting Tuesday Drilling & Production Operations Wednesday Alberta Land Sale Wednesday Professional Ethics: Case Studies for Landmen Thursday Preparing for a Surface Rights Board Hearing (PSL®) Tuesday Professional Ethics: Theory and Application Tuesday Overcoming the Five Dysfunctions of a Team Wednesday British Columbia Land Sale Wednesday Directive 056: AER Energy Development Applications Public Consultation Requirements (PSL®) Thursday Negotiation Skills for Surface Land Agents (PSL®) Wednesday Alberta Land Sale Thursday Christmas Day Friday Boxing Day m Monday January 1 Thursday 6 14 15 21 21 22 28 28, 29 Tuesday Wednesday Thursday Wednesday Wednesday Thursday Wednesday Wed-Thu New Year’s Day Board Meeting Alberta Land Sale CAPL Industry Night British Columbia Land Sale ROFR Issues: An Interpretive Approach Surface Land Fundamentals Alberta Land Sale Economic Considerations for Land Deals December 10, 2014 CAPL Christmas Networking Where: Calgary Petroleum Club 319 – 5 Avenue S.W. Cost: Members: No Charge Student Members: Free (Designated Meeting) Guests: $94.50 (incl. $4.50 GST) All members are required to confirm their attendance by email. Only guests are required to purchase a ticket. Guest tickets will be sent to the member with an invoice. Jacket required (no jeans or T-shirts) please. Registration please email [email protected]. Please confirm your attendance by emailing before noon on December 3, 2014 m January Meeting January 15, 2015 Industry Networking Event Speaker: Deborah Yedlin Business Columnist, The Calgary Herald m Time: 5:00 p.m. Where: The Westin Calgary 320 – 4 Avenue S.W. Cost: Members: $42.00 (incl. GST) Student Members: $42.00 (incl. GST) Guests: $94.50 (incl. GST) Ticket order form is available on the CAPL website. Ticket order deadline THE NEGOTIATO R / DEC EMBER 20 14 is January 5, 21015. m 32 NOW THIS CAN BE BOTH THE BEFORE AND THE AFTER SHOT. The experts in Land Acquisition offer Environmental Services as well. Picture that. An A to Z solution that is far more efficient and effective, making your life so much easier. Join the industry leaders who count on us for expert solutions. Call 1-866-834-0008 or visit landsolutions.ca and relax. YOUR AD * HERE For advertising opportunities, please contact Kevin Young (403-724-4450) or Trevor Rose (403-233-3136) (*because like a blue moon, available advertisement space on the back cover of The Negotiator is a very rare occurrence…)
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