NARO has started rolling our some very informative webinars to help make up for the cancellation of the state and national conventions this year. They are doing about one per month, and have topics lined up through February. Cost is free for NARO members and $25 for non-members (although the $25 gets applied toward a membership if you join). You simply click on a link to join the webinar after you register, with no software to install. They are usually done at noon CST and last for about an hour, so you can watch them during lunch.
I will start posting the signup information as it becomes available on the NARO website.
The November Webinar is - How To Read and Manage Your Royalty Statements, by Idalia Romanos on November 19, 2020 at Noon, CST. I have seen Idalia speak, and she is a good and entertaining speaker. The link is below.
The webinar for Operator Bankruptcies was quite good.
I have signed up for the Royalty statements one, even though I read them all the time. Picking up a tidbit of information is worth the investment to me.
Join NARO or join one of the seminars? Seminars are $25 for non-members. Members are free. If you want to join NARO ($150), the $25 will be applied to the membership. I think both are outstanding values. Just my opinion.
Here are the upcoming (and past) seminars the Texas Chapter is sponsoring. As Martha mentioned, there was another one about bankruptcies. Only the November one is open for registration on the NARO website at this time. As for the past seminars, NARO members can email the Tulsa office and get a link to watch the videos for free.
Clinton Butler - From Bass to Texas Outfitters: The Evolution of the Executive Right in Texas. (Oct. 15th at 12:00 p.m.).
In this episode attorney, Clinton Butler, will guide us through the ever changing landscape of Texas Law regarding the Executive Right (the mineral interest right to negotiate and execute the oil and gas lease). In this episode we will explore the history of the Executive Right, how the executive right has dramatically changed over the last 10 years, and how those changes affect the relationship between participating and non-participating royalty owners.
Idalia Romanos - How to read and manage your royalty statements (November 19th at 12:00 p.m.)
In this episode accounting professional, Idalia Romanos will discuss how to go about reading and managing the statements that royalty owners receive each month accompanying their check. Idalia will discuss the different codes, columns, and figures contained in a normal royalty statement and direct royalty owners on what they should be looking out for in order to best manage their asset.
Robert Park and Ross Spence (moderated by Clinton Butler - oilfield bankruptcies, what the royalty owner needs to know (Dec. 17th at 12:00 p.m.).
In this episode Clinton Butler will moderate a panel discussion between attorneys, Robert Park and Ross Spence, regarding the rise in bankruptcies being filed by operators in the oil and gas industry. The discussion will focus on what royalty owners need to do in order to protect their assets and to ensure that there is little to no interruption in their royalty income and what to do in the event that things go really south with the operator’s bankruptcy proceedings.
Peter Huddleston - Introduction to auditing your royalty statements (January 21st at 12:00 p.m.).
Following up on the discussion from Ms. Romanos in November, in this episode Peter Huddleston, a petroleum engineer with over 40 years’ experience in the oil and gas industry, will guide royalty owners on how to perform a basic audit of their royalty statements to determine if there is an issue that needs further examining by a professional auditor. Mr. Huddleston will discuss the basics of scaled up hydrocarbon processing and other costs that may impact the income received by the royalty owner and how to determine if those costs are justified.
Wade Caldwell - When Can I Cash That Check (Or Not)? (Feb. 18th at 12:00 p.m.)
In this episode attorney and past NARO-Texas President, Wade Caldwell, will discuss the perils of cashing royalty checks when you are in a dispute with an operator. When does cashing checks play into affirmative defenses an operator may have such as waiver, estoppel or ratification of a unit? Mr. Caldwell will discuss what royalty owners can do to minimize their risk and attempt to ensure that by merely cashing their monthly check, the royalty owner is not surrendering their right to pursue viable and existing causes of action against the lessee.
Those of you NARO members who need certification hours for your CMM, you can get one hour of NARO CMM credit for attending three NARO sponsored webinars. You can also get one hour of “outside” CMM credit for attending three outside approved one hour webinars. The CMM board requests that you put the sets of three on different attendance forms and keep the NARO sponsored ones separate from the “outside” ones. Pre-certify the outside hours requests. Check the NARO website for more info on credit.
The registration for the December webinar on oilfield bankruptcies is now open (two links on calendar - one for non-member registrations and one for member).
NARO is an excellent resource of information for royalty owners. They arm you with info that you might not know otherwise because you are not in the oil and gas operations loop. They can also connect you with mineral managers and advocates with the education and know-how to help you get paid faster.
NARO has two upcoming webinars the week of Dec 14.
Go to www.naro-us.org. See Wade’s link above.
The first one is “Nine things owners need to know about post production charges”. This one comes from the Colorado chapter. Dec 15
The second one is “Oilfield Bankruptcies” and comes from the NARO Texas Chapter. Dec 17.
If you are a member, click the member button. If not a member YET, click the non-member button. If you join within the correct time frame, your fee goes toward your membership.
These seminars are on topics that affect your royalties, so good info to know.
NARO has posted its newest webinar scheduled for January 21, 2021 at 12:00 P.M. CST.
The topic is Introduction to Auditing Your Royalty Statements and the speaker is Peter Huddleston. As with all webinars, it is free for NARO members and $25 for non-members - but the $25 gets applied toward a NARO membership if you join!
NARO has posted an upcoming webinar scheduled for January 21, 2021 at 6:30 PM CST. The topic is Following Utica Natural Gas from Wellhead to Sales Point, and the speaker is Barry L. Browne, NARO Ohio Chapter President. As with the others, it is free for NARO members and $25 for non-members, but the $25 gets applied toward a NARO membership if you join.
If you missed the bankruptcy one today, it will be on the NARO website for members. It mentioned the importance of knowing how to audit your statement, so this next on Jan 21 ties right in.
I am excited to announce I’ll be speaking at an upcoming NARO webinar scheduled for February 18, 2021 at 12:00 PM CST. The topic is When Not To Take The Money. I will talk about both the practical and legal problems of not being able to cash royalty checks while in a dispute.
As with the others, it is free for NARO members and $25 for non-members, but the $25 will be applied toward a NARO membership if you join.