Landowner Oil and Gas Leasing and Michigan Oil and Gas Industry Educational Meeting
Monday, November 26, 2012, 6:00 – 9:00 pm
(Registration opens at 5:30 pm)
Oakland County Executive Office Building (EOB), Bldg. #41W, Waterford, MI 48328
There is an increased interest in leasing oil and gas rights in Oakland County, leading to a potential new income source for landowners. It all begins with the mineral rights owner being offered an oil and gas lese to sign. The lease is a legal contract that can last for generations. When you read the lease, do you understand what it says? Is there alternative lease language that will help you meet the goals you have for your property?
MSUE is sponsoring a public meeting for landowners to educate them on the following topics:
- Michigan Dept. of Environmental Quality’s Role in Regulation the Michigan Oil and Gas Industry
- Advances in Drilling Technology
- Understanding and Negotiating the Standard Oil and Gas Lease
- Legal Considerations in Oil and Gas Leasing
Registration fee is $10/person. Advance registration is highly encouraged by Friday November 23, but not required. Please contact the MSU Extension office at 248-858-0887 or firstname.lastname@example.org.
Welcome and Introductions
- Curtis Talley Jr., Michigan State University Extension (MSUE), Farm Management Educator
- Introduction to the Office of Oil, Gas, and Minerals
- Michigan oil and gas well construction requirements
- Hydraulic fracturing in Michigan
- Environmental considerations and regulations
- Horizontal and vertical well construction techniques
- Environmental safeguards
- Can oil and gas production coincide with residential and recreation areas?
- What is the future for oil and gas production in Michigan?
- What does the language in the lease mean?
- Why should I be concerned about the lease language when I am getting a bonus payment?
- What are the long-term implications of the standard lease?
- Legal Consideration in Oil & Gas Leasing
Common pitfalls to avoid
Defining how the royalty is paid
Protecting groundwater quality in the lease
What can be negotiated in the lease?
Question and Answer Period Curtis Talley, MSUE
MSU Extension is an affirmative-action, equal-opportunity employer. Michigan State University Extension programs and materials are open to all without regard to race, color, national origin, gender, gender identity, religion, age, height, weight, disability, political beliefs, sexual orientation, marital status, family status or veteran status.