NARO

OK-NARO Annual Convention Recap

OK-NARO Annual Convention Recap

OK-NARO recently held its annual convention in Tulsa. It was a well-attended convention with members from both in and out of state. Although the oil and gas industry is still struggling, the general atmosphere among the attendees was one of optimism. The recent upward trend in the oil and gas markets seemed to have everyone looking to the future.

If you weren’t able to attend you missed a great set of speakers that addressed a number of relevant topics in the oil and gas industry. I had many conventioneers tell me they gained very useful information to take back home with them.

Transitioning

Transitioning

As I write this article, OK-NARO is in “crunch time” mode in preparation for our state convention. With the top-notched speakers scheduled, the 2016 convention should prove to be one of the best and I hope to see you in Tulsa, Oklahoma April 27th-29th!

Now, to my topic this month: Transitioning…the planning and evolution of your minerals to the next generation. This is one of the most important responsibilities you have as a mineral owner. Your minerals, whether obtained by inheritance from your forward thinking relatives or acquired by investing in the fruits of this industry, are valuable assets. We all understand the importance of seeing that our assets of land, stocks and bonds, and retirement accounts are properly transferred to the next generation. However, too many times I see in my business that minerals take a back seat in the transitioning process.

Oklahoma Convention 2016 – “Stewarding our National Treasure”

Oklahoma Convention 2016 – “Stewarding our National Treasure”

It’s Convention Time!! When you receive this newsletter, OK NARO’s Annual Convention will be about a month away. The theme this year is “Stewarding our National Treasure.” We are expecting royalty owners from all over our great state and many from across the country as they seek to better understand their mineral interests. I’m especially excited about the tremendous slate of presenters retained. No matter what your knowledge level may be, everyone will take home new information from the 2016 Convention. So register today to attend the convention at the Southern Hills Marriott in Tulsa, Oklahoma! I hope to see all of you on April 27th , 28th and 29th.

Convention Time!!

Convention Time!!

You may recall that last month I encouraged you to continue your education regarding the ownership of your mineral rights. Well, a great opportunity to do just that is coming your way this April.

OK NARO will be holding its annual convention beginning on April 27th and running through April 29 th at the newly remodeled Southern Hills Marriott in Tulsa, Oklahoma. The theme for this year’s convention is “Stewarding National Treasure”. The convention will be a blend of not only educational topics delivered by some of the most knowledgeable people in the industry, but also a wonderful opportunity to fellowship with mineral owners not only from Oklahoma but from across the nation.

Getting Started in the New Year

Getting Started in the New Year

I hope that everyone had a wonderful holiday season and that your new year is off to a great start. I always view the new year with a renewed sense of purpose and opportunity. A fresh start so to say. This is a time when we can plan for the coming year not only for our personal but also our professional growth.

So, what’s in store for the new year for mineral owners? No question about it, mineral owners will continue to face a number of challenges in the coming year. The price of oil and gas has been depressed for quite some time now and it appears, depending on the economic analyst you listen to, it could remain that way for some time to come.

Senate Bill 809

Senate Bill 809

Mineral owners in Oklahoma recently received some good news. As you may recall, this past year a number of Oklahoma cities and towns were seeking to enact local ordinances allowing them to regulate oil and gas operations in their city limits. Several cities, including both Norman and Stillwater, did pass ordinances attempting to regulate the oil and gas operations within its limits.

Knowledge

Knowledge

“Knowledge is power”, a well-known phrase used by many to emphasize the wisdom of those who seek to enhance their potential in life. The more knowledgeable you are on a subject, the greater your ability to obtain favorable results. This was ever so evident by those who attended the National Association of Royalty Owners national convention held recently in Las Vegas. From dealing with oil and gas leases to determining whether your decimal interest on a division order is correct, this first class event helped many gain tremendous knowledge to use in the management of their minerals. With many insightful presentations and the exchange of information among mineral owners, I believe every attendee increased their understanding of this industry; thus, increasing their power.

Reinvention

Reinvention

I recently had the opportunity to attend the Oklahoma Corporation Commission’s 2015 Oil and Gas Institute. The 2015 Institute, held at Oklahoma City University’s Meinders School of Business, included a number of excellent speakers addressing many pertinent topics in the oil and gas industry.

Topics included a mock pooling hearing addressing the issue of fair market value, a presentation on subsurface trespass and the resulting damages and a presentation of horizontal completions, hydraulic fracturing and bottom hole surveys. Each of these presentations proved to be informative and educational. 

Quiet

Quiet

“It’s quiet…Too quiet.” Although the origin of this statement is murky, the meaning speaks volumes; especially in the oil and gas industry of 2015. However, hope is still alive in Oklahoma and that hope would be named: SHALE. And, fortunately for Oklahomans, there is still considerable activity in the SCOOP and STACK plays. The number of active drilling rigs in Oklahoma has been fairly constant at just over 100 rigs the beginning of May thru September according to Baker-Hughes. Operators such as Continental and Newfield are still acquiring oil and gas leases.

The Good, The Bad, The Ugly

The Good, The Bad, The Ugly

As I write this article, I am reminded on the old Clint Eastwood movie title, The Good, the Bad and the Ugly. The movie title aptly describes the current state of the oil and gas industry in Oklahoma.

The Good would be indicated by the recent passage of Senate Bill 809. Thanks to the hard work of a number industry and business organizations and leaders, including Terry Stowers of the Coalition of Oklahoma Surface and Mineral Owners, the legislature passed and the governor signed into law this important piece of legislation. SB 809 reaffirmed the Oklahoma Corporation Commission’s role as the primary regulator of oil and gas drilling in Oklahoma and prohibits cities from enacting drilling bans.