Midstream Oil & Gas Contracts

January 23, 2025 | Online :: Central Time

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Whether the contract is for purchase and sale or gathering and processing; for the engineering, procurement, and construction of pipelines and other facilities; or for master purchase or service agreements; there are many critical areas attorneys and commercial managers must focus upon to create a clear and effective contract for the company. 

This course will provide the following key takeaways: 

• General contract terms
• FERC jurisdictional issues
• Construction contracts
• Other project development agreements
• Gathering and processing agreements
• Pipeline ROW
• Environment, health and safety issues

Register now for EUCI’s Midstream Oil & Gas Contracts course for an in-depth study of key considerations associated with putting a new contract in place, and how to negotiate more effective contracts with suppliers, customers, partners, and other counterparties.  In addition, this course will address the fundamentals and strategies for effective negotiation.  Each attendee will receive sample copies of the types of agreements and contracts discussed during the course. 

Learning Outcomes

• Discuss interrelationship between midstream contracts and business objectives
• Describe the basics of contract drafting
• Review special contract positions
• Assess environmental and real estate issues with midstream contracts
• Explain downstream sales of oil, natural gas, NGLs, and other petroleum products
• Describe gathering and transportation agreements
• Address processing and fractionation agreements
• Discuss confidentiality agreements

Thursday, January 23, 2025 : Central Time

9:00 -9:30 a.m. :: Welcome and Introduction

9:30 – 10:00 a.m. :: NAESB Gas Purchase and Sale Agreement

• Contract framework
• Market-based rates vs. cost-based rates
• Standardized contract terms
• Force majeure provisions
• Default and termination rights
• Delivery and acceptance terms
• Pricing mechanisms

10:30 – 10:45 a.m. :: Morning break

10:45 – 11:15 a.m. :: Legal Framework for Midstream Contacts

• FERC jurisdiction and regulatory oversight
• Contract enforceability
• Governing law clauses
• Liability and indemnification
• Dispute resolution mechanisms
• Confidentiality clauses
• Choice of venue and forum

11:15 – 11:45 a.m. :: Asset Management Agreements

• Operational control provisions
• Rights and obligations of asset manager
• Commercial risks
• Revenue sharing structures
• Contractual performance metrics

11:45 – 12:15 p.m. :: Negotiated Rate Agreements

• FERC approval processes
• Most favored nation clauses
• Discounted rate agreements
• Escalation clauses
• Regulatory compliance considerations

12:15 – 1:00 p.m. :: Lunch Break

1:00 -1:30 p.m. :: Pipeline Precedent Agreements

• Conditions precedent
• Timing and scheduling milestones
• Financial assurances
• Capacity allocation
• Tariff considerations
• Contract term and renewal provisions

1:30-2:00 p.m. :: Throughput and Deficiency Agreements and Firm Oil Pipeline Transportation Agreements

• Minimum volume commitments
• Take-or-pay provisions
• Deficiency payment structures
• Firm vs. interruptible transportation
• Capacity reservation fees
• Remedies for underperformance

2:00 – 2:30 p.m. :: Gathering and Processing Agreements

• Allocation of costs
• Volume commitment provisions
• Fee structures (commodity-based, fixed fee)
• Performance obligations
• Quality specifications
• Rights to processing capacity

2:30 – 2:45 p.m. :: Afternoon break

2:45 -3:15 p.m. :: Contract Renegotiation

• Change in market conditions
• Amendment provisions
• Renegotiation triggers
• Remedies for breach
• Alternative dispute resolution methods
• Negotiation strategies

3:15 – 3:45 p.m. :: Interconnection Agreements for Gas and Oil Pipelines

• Ownership of interconnection facilities
• Cost allocation
• Construction and operation obligations
• Measurement and metering provisions
• Maintenance and liability
• Termination and removal of interconnections

3:45 – 4:15 p.m. :: Gas Quality and Interchangeability Considerations in Interconnection Agreements

• Gas specifications and compliance
• Testing and monitoring protocols
• Quality assurance processes
• Interchangeability and blending considerations
• Remedies for non-conforming gas
• Dispute resolution for quality issues

4:15 – 4:45 p.m. :: Conclusion

Glenn Benson, Partner, BakerHostetler

One of the country’s leading representatives of onshore and offshore oil and gas producers on regulatory matters, Glenn Benson brings more than 24 years of experience and an uncommon familiarity with the Federal Energy Regulatory Commission (FERC) to his role on the BakerHostetler national Energy Industry practice team. He counsels clients across the energy industry on tariff and contract disputes before FERC, regulatory compliance and enforcement, and the negotiation of commercial transactions, including power purchase agreements, interconnection agreements, pipeline precedent agreements, asset management agreements, and oil and gas purchase and sale agreements.

We will be using Microsoft Teams to facilitate your participation in the upcoming event. You do not need to have an existing Teams account in order to participate in the broadcast – the course will play in your browser and you will have the option of using a microphone to speak with the room and ask questions, or type any questions in via the chat window and our on-site representative will relay your question to the instructor.

• Microsoft recommends downloading and installing the Teams app if possible. You may also use the Edge browser or Chrome.
• You will receive a separate email with a unique link to a personalized landing page which will include links to join all sessions of this event.
• If you are using a microphone, please ensure that it is muted until such time as you need to ask a question.
• The remote meeting connection will be open approximately 30 minutes before the start of the course. We encourage you to connect as early as possible in case you experience any unforeseen problems.

Please Note: This event is being conducted entirely online. All attendees will connect and attend from their computer, one connection per purchase. For details please see our FAQ

If you are unable to attend at the scheduled date and time, we make recordings available to all attendees for 7 days after the event

REGISTER NOW FOR THIS EVENT:

Midstream Oil & Gas Contracts

January 23, 2025 | Online

Your registration may be transferred to a member of your organization up to 24 hours in advance of the event. Cancellations must be received on or before December 19, 2024 in order to be refunded and will be subject to a US $195.00 processing fee per registrant. No refunds will be made after this date. Cancellations received after this date will create a credit of the tuition (less processing fee) good toward any other EUCI event. This credit will be good for six months from the cancellation date. In the event of non-attendance, all registration fees will be forfeited. In case of conference cancellation, EUCIs liability is limited to refund of the event registration fee only. For more information regarding administrative policies, such as complaints and refunds, please contact our offices at 303-770-8800

Credits

EUCI is accredited by the International Accreditors for Continuing Education and Training (IACET) and offers IACET CEUs for its learning events that comply with the ANSI/IACET Continuing Education and Training Standard. IACET is recognized internationally as a standard development organization and accrediting body that promotes quality of continuing education and training.

EUCI is authorized by IACET to offer 0.7 CEUs for this event

Verify our IACET accreditation

Who recognizes IACET Credits?

Instructional Methods

Case studies and PowerPoint presentations will be used in this program.

Requirements for Successful Completion of Program 

Participants must log in each day and be in attendance for the entirety of the course to be eligible for continuing education credit.

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CPE Credits

Upon successful completion of this event, program participants interested in receiving CPE credits will receive a certificate of completion.

Course CPE Credits: 7.5
There is no prerequisite for this Course.
Program field of study: Specialized Knowledge
Program Level: Basic
Delivery Method: Group Internet Based
Advanced Preparation: None

EUCI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its web site: www.nasbaregistry.org

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Who Should Attend 

• Contract administrators
• Contract negotiators
• Sales, marketing and commercial personnel
• Financial specialists
• Operators, planners and analysts
• Suppliers and shippers
• Bankers, lawyers and specialist advisors to the midstream oil and gas industry
• In-House Counsel