We are pleased to distribute the materials associated with the third (and probably last) industry draft of the 2015 CAPL Farmout & Royalty Procedure, together with the initial draft of the companion CAPL Overriding Royalty Procedure. This package includes: (i) an overview of the project scope and the major changes; (ii) a detailed matrix that outlines all material changes and their rationale; (iii) the text and annotations in a clean and red-lined format relative to the second draft; (iv) a matrix showing industry comments and our responses; (v) the text and annotations respecting the Overriding Royalty Procedure; and (vi) as an attachment to this letter, survey responses from the February 26th CAPLA Lunch & Learn with high level industry feedback. You can obtain a facing page presentation of the text and annotations by printing the PDFs in a double-sided format.
Continue reading by downloading the Cover Letter PDF:
Cover Letter and Survey Results
2015 CAPL Farmout & Royalty Procedure Overview of Changes (draft 3)
2015 CAPL Farmout & Royalty Procedure Clean Copy (part 1)
2015 CAPL Farmout & Royalty Procedure Clean Copy (part 2)
2015 CAPL Farmout & Royalty Procedure Red-Lined Version (part 1)
2015 CAPL Farmout & Royalty Procedure Red-Lined Version (part 2)
Modifications to 1997 CAPL Farmout & Royalty Procedure
Industry Comment Matrix and Responses (draft 2)
