Mike T. Walker Page President Calendar of Events
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OKLAHOMA CITY ASSOCIATION OF PROFESSIONAL LANDMEN OCAPL Record VOLUME 11, ISSUE 2 FEBRARY 203 President’s Letter Market for 2013.” Both of these topics were very interesting and we thank the speakers for taking Greetings to all OCAPL members, your spouses and their time to present them to OCAPL and our significant others as I wonder how many of us have let membership. Valentine’s Day sneak up on us as I prepare this letter. This also reminds me to mention that we have several Other upcoming events to watch for: events around the corner, so be sure to not procrastinate and miss out on these events. 1) OCC Seminar: Pooling in a Horizontal World, February 22, 2013, 11:30 am, As we move forward in this New Year we have some Courtroom 301, Jim Thorpe Office Building, No members that have lost jobs and others worried about Charge! keeping their jobs. I hope that everyone affected now 2) Infant Crisis Center Volunteer Event, March 9, or in the future will be able to network with other OCAPL 2013 (Full) members to find new employment. We really have some 3) OCAPL Field Landman Seminar, April 11, 2013, talented professionals in OCAPL that make a difference. Willow Creek Golf Course 4) OCAPL Fishing Tournament, May 4, 2013 On Monday, February 4, 2013, we had our monthly CPL 5) OCAPL Golf Tournament, May 20, 2013, at Oak Luncheon at the Petroleum Club with Kevin Lafferty from Tree and Gaillardia Devon Energy Corporation speaking about “Energy 6) OCAPL Sporting Clays Tournament, August 30, Market Dynamics.” This was followed by our Monday 2013 Night Meeting with Lindsay Sherrer with Energy Spectrum Advisors, Inc. speaking on a “Review of the Energy M&A These events will be here quickly, so please sign up early to make sure you will be able to attend. We also need everyone that has not renewed their membership to please get them in. It appears that our membership will be down from last year, which was expected and was budgeted accordingly. However, we are still working to provide our membership with quality events and speakers this year. Thanks to all committee members for your Points of Interests time and energy serving OCAPL. I look forward to serving OCAPL and our Industry Affairs 3-4 membership this year and hope to see everyone at our March meeting. Legislative Affairs 5 New Members 6 Thank you, Mike T. Walker Page President Calendar of Events March 4, 203 Educational Luncheon @ Petroleum Club – Speaker: Bob Blackburn, Oklahoma Historical Society, Topic: “History of Oil and Gas in Oklahoma” March 4, 203 Monday Night Meeting - Speaker - Rick Muncrief – Sr. Vice President of Operations and Resource Development, Continental Resources, Inc. Topic – “Continental’s relocation to OKC and the company’s future plans” April , 203 Educational Luncheon & Monday Night Meeting - Speakers TBA May 4, 203 Fishing Tournament - The entry form will be provided in the next (March) newsletter May 20, 203 Golf Tournament SUMMER BREAK August 30, 203 Sporting Clays Tournament September 9, 203 Educational Luncheon & Monday Night Meeting October 7, 203 Educational Luncheon & Monday Night Meeting November 4, 203 Educational Luncheon & Monday Night Meeting December 2, 203 Christmas Party YPE EVENTS February 27, 203 Entrepreneurship in Energy Series, Speaker: Steve Slawson, Slawson Exploration - @ Petroleum Club (5:45 – 7:45) sponsor: OCAPL March 25, 203 OU MBA panel featuring Eddie Edwards, Executive Direcotber of the OU MBA Program, details TBD GNO, WTO AND FIELD LANDMEN SEMINAR DATES ARE TO BE ANNOUNCED CHECK OUT THE PHOTO GALLERY ON THE OCAPL.ORG WEBSITE FOR PICTURES FROM PAST EVENTS! DON’T FORGET TO RENEW YOUR DUES! LOGIN TO YOUR PROFILE ON OCAPL.ORG AND FOLLOW THE RENEWAL STEPS! Page 2 Industry Affairs Industry Affairs monthly seeks to select a few articles that touches on the current events and/or policy changes that affect oil and gas industry EIA: AEO 2013 reference case projects faster US production GOP to Obama: Keystone ‘can no longer be put on hold’ growth Publication: The Hill | Article Date: 2/7/2013 | Author: Zack 12/17/2012 Colman By Nick Snow Washington Editor All 25 Republicans on the House Foreign Affairs Committee urged approval of the Keystone XL oil sands pipeline in a Thursday letter Advanced technologies will increase US oil production more to President Obama. quickly than previously forecast, the US Energy Information Administration said as it released its 2013 Annual Energy Outlook “Our economy can no longer be put on hold while the bureaucratic reference case. Production will rise more quickly than demand as process you set in motion jeopardizes this critical project. You more stringent motor vehicle efficiency standards take effect, it can guarantee Americans the jobs they deserve, and prevent our indicated. national security from being undermined, with a simple stroke of “EIA’s updated reference case shows how evolving consumer the pen. We urge you to do so now,” the lawmakers wrote. preferences, improved technology, and economic changes are pushing the nation toward more domestic energy production, Obama has the final say on the pipeline because it crosses national greater vehicle efficiency, greater use of clean energy, and reduced boundaries. Some reports say the president won’t decide on the energy imports,” said Adam Sieminski, EIA administrator. The project until mid-June, at the earliest. reference case is the earliest release of EIA’s annual projections and provides only a baseline for scenarios that will be developed In the meantime, the international pipeline’s backers and detractors for the final AEO, to be released next spring, Sieminski said. It also are intensifying efforts to sway Obama. marked the first time that IEA has projected estimates to 2040 and used a Brent crude reference price, he added. A majority of lawmakers in both the House and the Senate support The latest estimates placed US oil production, which averaged 5.67 the pipeline, many of which have recently voiced their opinions in million b/d in 2011, at 6.79 million b/d in 2025, up from the 6.4 missives to Obama. million b/d estimate in the 2012 AEO, and 6.26 million b/d in 2035, up from the 2012 AEO’s 5.99 million b/d. Net imports, meanwhile, Both Democratic and Republican pipeline proponents contend are expected to fall from 8.67 million b/d in 2011 to 7.08 million Keystone would add jobs, strengthen North American energy b/d in 2025, lower than the 2012 AEO’s 7.14 million b/d, and 7.06 production and lessen dependence on foreign oil. million b/d in 2035, less than the 2012 AEO’s 7.25 million b/d. US oil import dependence could fall to 37% by 2035, Sieminski The Foreign Affairs Committee Republicans stressed the pipeline, said during a briefing on the reference case at Johns Hopkins which would bring Alberta oil sands to Gulf Coast refineries, could University’s School for Advanced International Studies. “It could help wean the U.S. off oil from the OPEC oil cartel. They also be smaller,” he suggested. “If there’s greater vehicle fuel efficiency, feared Canada might reroute the pipeline westward to export oil production would continue to rise instead of peaking around 2020.” sands to China. The US natural gas production reference case (combining dry gas production and supplemental gas) showed an increase from 23.06 “Further hesitation in approving Keystone XL would not only tcf in 2011 to 28.65 tcf in 2025, up from 26.34 tcf in the 2012 AEO, ensure higher economic costs, but enhance the fortunes of and 31.41 tcf in 2035, higher than the 27.99 estimate in 2012’s economic rivals, as Chinese state-owned oil companies and AEO. The 2013 reference case projected a transition from 1.95 tcf others race to secure permanent access to North American energy of net gas imports in 2011 to 1.58 tcf of exports in 2025 (more than sources,” the GOP lawmakers told Obama. the estimated 790 bcf in the 2012 reference case) and 2.55 tcf of exports in 2035 (more than the 2012 reference case’s 1.36 tcf). Separately, the chief executive of TransCanada Corp., the firm Sieminski said continued low US gas prices could help it penetrate building the pipeline, is meeting with a senior State Department new markets, including transportation (particularly LNG in official Thursday. long-haul, heavy-duty vehicles), although the heaviest demand growth will continue to come from industries and electric power The State Department is currently reviewing the international generators. pipeline, with its final report likely coming no earlier than the end of the first quarter. Page 3 Industry Affairs Green groups say Keystone should flunk the State Department’s In testimony before the RRC and later in a state district court it was environmental review. revealed that the water wells were drilled in 2005, and the Range Resources wells were not drilled until 2010. The driller of the Some of those groups are participating in a Feb. 17 climate rally in water wells in 2005 actually took a picture of the owner lighting a Washington, D.C., to urge Obama to reject the pipeline. water hose. They have cast the forthcoming decision as the litmus test for Testimony also revealed that an “environmental consultant” had whether Obama will honor recent comments — including in his contacted the water well owner and urged him to bypass the RRC, inaugural address — about tackling climate change in his second who had already been investigating the situation, and contact term. Armendariz at the EPA. Armendariz later resigned from EPA under fire because of his management practices.