NOTICE TO INDUSTRY – SECOND DRAFT
A joint Confidentiality Agreement Committee of eleven members from CAPL (Canadian Association of Petroleum Landmen) and PADA (Petroleum Acquisitions and Divestments Association), was formed to create a confidentiality agreement that will provide Industry with standardized terms and conditions applicable to a wide variety of oil and gas transactions. A standardized confidentiality agreement offers Industry an efficient and effective means of ensuring consistent contractual terms for disclosure of confidential information related to any type of transaction.
The proposed form of agreement is comprised of two parts: i) the Confidentiality Head Agreement that allows for customization of the agreement, and ii) the Confidential Information Disclosure Procedure, which sets out the standardized industry terms and conditions (similar to other CAPL industry standard documents such as the Joint Operating Procedure and Farmout and Royalty Procedure), which can be modified as required in the appropriate schedule to the Head Agreement.
The first draft was distributed to Industry in September, 2014; click here to go directly to the posting. The Committee has now reviewed all the feedback received from Industry and now offers a second draft for further review and comment through the same link.
Industry is asked to review and provide comments related to this second draft by September 15, 2015. All questions and comments are to be directed to Michelle Radomski by email at michelle.radomski@prairiesky.com. This is intended to be the last draft circulated for Industry comment prior to rolling out the standardized form by yearend.
While feedback is appreciated and encouraged, please focus on the intended broader application of this document to meet the majority of Industry’s expectations and needs. Preferential wording changes that would not otherwise impact the overall intent, meaning, interpretation or application would not be useful in the context of a standardized industry document and, once finalized, further customization for your company can be accomplished in the body or schedules of the head agreement.
Michelle Radomski, Vice President Land, PrairieSky Royalty Ltd.
Committee Chairman
Committee Members:
Brian Bidyk, Davis LLP
Darryl Derouin, President, CB Securities Inc.
Derek Lynn, Manager, Divestments, Enerplus
Donald Mortimer, VP Business Development, Tuzo Energy Corporation
Heather Isidoro, Manager of Business Development, Pine Cliff Energy Ltd.
Kim Urban, Vice President, A&D and Joint Ventures, Harvest Operations Corp.
Leslie Kende, Managing Director - A&D, AltaCorp Capital Inc.
Margaret Ariss, Land Manager, Black Pearl Resources Inc.
Mike Belenkie, Modern Resources
Tim Blair, Vice President Land, Bellatrix Exploration Ltd.
