A number of free workshops are being offered in the coming weeks by the Oklahoma Energy Resources Board.
Provisions To Consider When Negotiating A New JOA
July 31 | 11 a.m. | Zoom
When considering a joint venture between parties, there are many issues to address and understand through the Joint Operating Agreement and its exhibits about sharing revenues and costs related to joint operations. We will discuss those provisions that typically cause the most disagreements between parties and things to consider when negotiating a new JOA.
Q&A With CPAs
August 7 | 11 a.m. | Zoom
Join us for a Q&A session as we learn from experts who will explain the different types of taxable entities and the benefits and drawbacks of each for tax purposes. This Q&A session will be helpful as taxpayers learn the benefits of each entity before making the selection. Attendees will also gain insight of the best time to consider converting to a different type of entity. Airington CPAs will also discuss specific oil and gas deductions and credits to minimize taxes and explain the reasons it is important to have good accounting when operating a business. Don’t miss out on this free tax advice and register today!
Plunger Lift 101
August 15 | 11 a.m. | Zoom
A plunger lift is an economical form of artificial lift that utilizes a well’s own pressure and gas energy to efficiently remove fluids from a well bore. By utilizing the wells own energy, a plunger acts as an interface between the accumulated liquids and gas in a tubing string creating an efficient seal that allows the plunger to surface multiple times a day removing fluids and allowing a well to produce intermittently or continuously without the need for costly downhole equipment. Plungers can assist with keeping a well clean of solids such as paraffin, scale, sand, and hydrates without the need for costly chemicals. Also, plunger lift systems can be maintained by operators and staff without the need for workovers like other forms of artificial lift.
During the presentation, the audience will learn plunger lift system basics, gas requirements, pressure requirements, plunger lift types, operating parameters, and how a plunger works.
ESP
August 21 | 11 a.m. | Zoom
Join OERB for an overview of ESP design that will compare conventional and unconventional applications. With a focus on Oklahoma plays, the presenter will walk through an ESP application and design. The class will outline the advantages and disadvantages of ESP and how they can be utilized in Oklahoma. The presentation will show how properly sizing ESP systems can make ESPs a cost-effective solution to Artificial Lift.
Gas Lift 101
August 28 | 11 a.m. | Zoom
This workshop will focus on the basics of gas lift and how it plays a vital role in lifting produced wells. Gas lift is an artificial lift system that mimics a naturally flowing well. High pressure gas is injected into the tubing/casing annulus through a series of gas lift valves to help lift liquids to the surface through the production tubing, thus lowering the bottom hole pressure in the wellbore. Gas lift works on the principle of lightening the fluid column, allowing the reservoir pressure to lift the well without the need for a positive displacement pump. Two basic types of gas lift in use today are continuous and intermittent flow. Gas lift is the most cost-effective from of artificial lift and is the reason many producers choose to use it.
Facility Design
September 4 | 11 a.m. | Zoom
The design and operation of oil and gas production facilities is changing fast to meet the demands of new regulations and recommended practices from industry associations. Additionally, new regulations and industry standards are redefining the design and installation of equipment.
All facility design topics in this workshop will have a common theme focused on the promotion of cost-effective fabrication and construction strategies and techniques within the engineering design process. The following topics will be reviewed and discussed:
· Modular facility design concepts for simple layouts, expansion, and prefabrication.
· Regulatory compliant closed vent system designs for onsite liquid storage.
· Application comparisons of bulk and test separation trains versus well specific separation trains.
· Facility piping design specifications per applicable industry standards and recommended practices in relation to fluid service types.