Author Archives: iLandMan

2017 LAPL Membership Kickoff Party

Friends, football, food, and fun all came together last Monday for the 2017 Lafayette Association of Professional Landmen Membership Kickoff Party. It was a packed house at The Grouse Room here in Lafayette.

LAPL Kickoff Party 14 - The Grouse Room - Lafayette, LA

The annual event offered folks the opportunity to mix and mingle, renew their LAPL memberships, listen to some great live music, and most importantly… watch some New Orleans Saints football!

LAPL Kickoff Party 15 - The Grouse Room - Lafayette, LA

iLandMan was happy to be a sponsor for this great event, and some of our team members were there to enjoy the festivities. Door prizes were given out at each commercial break making for non-stop action throughout the entire game. There was also a cash prize football pool done each quarter/half which made for some added excitement.

Our thanks goes out to all members of the LAPL for their support, especially those that worked so hard to put on such a great event, and we are looking forward to the next one!

Where are we headed next? Check out the iLandMan events calendar for upcoming dates and event locations.

For more pictures from this great event, enjoy the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

2016 OCAPL Sporting Clays Tournament

From the whitewater of downtown Oklahoma City to the country woods of Guthrie, we had a great trip to Oklahoma a few weeks ago for the 2016 OCAPL Sporting Clays Tournament. Can you believe there is whitewater rafting in downtown Oklahoma City? We had to see it for ourselves and were totally blown away by the beautiful facility and the exciting experience!

OKC Riversports Rafting - Oklahoma City 2016

The big event was the next day, with multiple flights of shooters, so we dried out and were on the road bright and early to Silverleaf Shotgun Sports to serve coffee and breakfast to the crowd. The kolaches and assorted donuts were a hit as folks fueled up before hitting the shooting range.

Mike Gibson, Richard Hines, Hank Latimer, Mark Oates - 2016 OCAPL Sporting Clays Tournament

Three registrations, three safety meetings, three rounds of shooting, and three exciting prize drawings made for a great day, and the weather could not have been more perfect. Our hat goes off to Shannon and the folks from the OCAPL for putting together this fun (and to their credit, very efficient) event!

OCAPL Sporting Clays Crowd 4 - 2016 Tournament

Look for us next in booth #18 at the 2016 NALTA Annual Conference in Atlanta, GA and then at the 2016 PBLA Eric Hanson Memorial Sporting Clay Shoot in Midland, TX.

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

For more pictures from this great event, check out the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

Summer NAPE – 2016

Summer NAPE 2016 has come and gone and it was another great show at the George R. Brown Convention Center in Houston last week. We were excited to announce our new land and accounting software collaboration with OGsys on the opening day of the exhibits, and were very pleased with the response. We had dozens of folks stopping by the booth to learn more about this new integration.

Hank Latimer, Justin Tabasso, Al Tovar, Seth Beal,Philippe Benard - Summer NAPE 2016

It was Al’s first NAPE with the iLandMan team (though he’s been plenty of times before) and he hit the ground running, new yellow shirt and all. It was also the first time vendors and service providers were given the opportunity to present in the NAPE theater, and Richard was lucky enough to get a spot in the lineup and talk about iLandMan and some of our newest features.

Richard Hines Service Provider Presentation - Summer NAPE 2016

As always, these events give us the chance to catch up with old friends, make new ones, and maybe do a little business while we are at it. Thanks again to the hard work of the folks at NAPE and the AAPL for the great job that they do.

Trinidad Hernadez, Jodi Gallegos, Taylor Rowland - Summer NAPE 2016

Look for us next week at the 2016 OCAPL Sporting Clays Tournament in Guthrie, OK and the 2016 NALTA Annual Conference in Atlanta, GA in September.

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

For more pictures from this great event, check out the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

iLandMan and OGsys Integrate Land and Accounting Systems

We are very pleased to officially announce that iLandMan and OGsys, Inc. have entered into a developmental business agreement to offer a fully integrated land management and accounting solution for exploration and production companies.

iLandMan and OGsys

This state of the art technology relationship promises to unite land teams and accounting departments through a truly integrated technical approach, where data meaningful to each side of the company can be appropriately shared between them.

Chuck Blanton, President - OGsys

Chuck Blanton, President – OGsys

 “OGsys clients and prospective clients have requested that our firm link seamlessly with iLandMan among others. We’ve heard many times over that full land-life-cycle management, from leasing, to mapping, to divisions of interest, must be offered in a seamless connection,” said OGsys President Chuck Blanton. “The accuracy and efficiency that result from such an integration is invaluable to all.”

iLandMan President, Tim Supple, explains, “No longer do today’s land departments need to settle for a sub-par land system tied to their previously chosen accounting system. This solution will empower these companies to have the most accurate tract and formation-based data in the industry flow directly to a powerful accounting system with ease.”

Tim Supple, President - iLandMan

Tim Supple, President – iLandMan

Currently in development, a cloud-based OGsys platform will soon be released, offering E&P companies additional accounting and operations management options. For those desiring total cloud technology, the iLandMan/OGsys connection will provide functionality unheard of in the industry.

About iLandMan: iLandMan is the only online, real-time, tract and formation-based lease management software for exploration and production companies. The company has offices in Lafayette, Houston, and Oklahoma City.

About OGsys: Since 1982, OGsys has been providing user-friendly, intuitive oil and gas accounting software that accelerates answers to critical questions impacting daily productivity and overall success. The company has offices in Fort Worth and Houston.

2016 AAPL Annual Meeting

The 62nd Annual AAPL Meeting began on a somber note with the shooting spree at Pulse Nightclub in downtown Orlando on Saturday night. As you traveled around the city you noticed the heightened security at all public places and events. This year’s meeting was held at the Hyatt Regency Resort in Orlando Florida, a very nice hotel just a few minutes from the Disney area and outside of downtown. It was a rather large hotel with meeting space located onsite, nice lounges, and a great pool area with a water slide.

Mike Curry Audrey Curry Andrea Hines Richard Hines - 62nd Annual AAPL Meeting

The AAPL board met on Tuesday and Wednesday to discuss the state of the industry as well as put several motions into action to help tighten the belt due to budget concerns in this time of commodity price volatility. There was also a director’s round-table discussion featuring landmen from around the country discussing topics such as certification, meeting venues, technology advancements and revenue & expenses. Committee meetings were held to finalize the work done over the last year and roll out several projects that have been in the works. The board also held its quarterly meeting, welcoming the new executive officers and bidding farewell to its outgoing members.

The annual meeting opening reception was held at the Hyatt on Wednesday evening with a Havana Nights theme. Those in attendance enjoyed the music, food and festivities of this opening night party. Cigars were rolled and given to those wishing to  partake and there was even an outdoor patio cigar party for all to enjoy.

Dinner Table - 62nd Annual AAPL Meeting

Thursday, the opening meeting and seminars had many good topics and speakers including a keynote address from Tom Peters of McKinsey & Company, who entertained the audience with his wit and industry knowledge. Courses offered that day included: Fossil Fuels, Oilfield Economics, M&A Perspectives, Petroleum Geology, Global Perspective on LNG, and General Mining Laws. There was also a Golf Tournament at the Grand Cypress Golf Course, a Jack Nicklaus signature course that was converted to a links-style course. It was a great time for networking and enjoying the day with other golf enthusiasts. Later that evening the Landman Bash was held at Universal Studios, where there were refreshments and karaoke. I never knew we had so many who were willing  to share their dancing and singing talents with the group!

Karaoke 6 - 62nd Annual AAPL Meeting

Friday was another day of classes on topics such as Acquisitions, Joint Operations in Down Economic Times, Landwork Technology, Negotiating the Oil & Gas Lease, Business Etiquette, Offshore Leasing, and Principled Leadership. The day was topped off with a Reception hosted by iLandMan, for many of its clients and friends, the President’s Cocktail Party, and then the President’s Dinner Dance with live entertainment.

Norman Snyder Diane Snyder Natalie Gibson Mike Gibson Andrea Hines Richard Hines - 62nd Annual AAPL Meeting

Saturday held even more seminar classes to help all in attendance better their skills and understand how trying times can make you a better landman.

Even though there were sad events that occurred in Orlando during this week, the landmen took time to pray for the victims, as well as get together and discuss not only the local current events, but also our industry and strategies for helping others get through these tough times.

Richard Hines, CPL – Vice President – iLandMan

For more pictures from this great event, check out the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

2016 HAPL Spring Swing Membership Drive

Having the highest score when playing golf has never felt as good as it did last week at the second annual HAPL Spring Swing Membership Drive at Topgolf in Houston, TX.

2016 HAPL Spring Swing Membership Drive - Houston, TX

With a beautiful view of the arena and a nice breeze coming in, the whole third floor was dedicated to the HAPL crowd for the competition. Richard, TJ, Adam, Gene, and Don didn’t bring home the trophy, but had a great time swinging away and learning more about this new entertainment concept.

2016 HAPL Spring Swing Membership Drive - Houston, TX

Good food, drinks, and fun were had by all, and of course a few door prizes for the crowd were welcomed. Congratulations to Brandon Bibby on winning our special sponsor prize of a brand new 20 qt. Yeti Roadie Cooler!

2016 HAPL Spring Swing Membership Drive - Houston, TX

Stay tuned for more updates on our upcoming events, wherever they may be!

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

For more pictures from this great event, check out the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

iLandMan Introduces Technology to University of Tulsa Energy Management Students

Richard Hines, iLandMan Vice President, co-founder, and Certified Professional Landman (CPL), gave his first special class presentation to University of Tulsa Energy Management students earlier this month in Tulsa, OK. The iLandMan University Program allows students to take free training with access to iLandMan for their studies.

The University of Tulsa

With the help of Energy Management Director Tim Coburn, Asst. Director Tom Seng, and Instructor Shelia Wilson, Mr. Hines shared with the students his experiences as a landman, how the industry began and has evolved, where it is today, and technology changes he sees for the future of the industry. Students were also given the opportunity to view and train on iLandMan’s tract-based online land system by entering tract and lease data as well as mapping tracts.

“I always enjoy presenting to these students and seeing the looks on their faces when I share stories from my days as a landman” said Hines. “It’s also exciting to train a new batch of young landmen/women using our technology knowing that they will bring these skills out into the field.”

Richard Hines - University of Tulsa Energy Management Class

Along with his role at iLandMan, Hines has over 30 years’ experience in the land industry, served as Third Vice President of the American Association of Professional Landman (AAPL), was Chairman of the Certification Committee, served on the Website/IT Committee, and is the current Chairman of the Technology Committee. He was the recipient of the 2008 AAPL Best Director’s Communication Award.

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

iLandMan Shares Technology with Colorado Mesa and UL Landman Programs

Lafayette based lease acquisition and land management software company iLandMan continues its commitment to education by presenting to Colorado Mesa University and University of Louisiana landman program students again this year.

Colorado Mesa University

Richard Hines, iLandMan Vice President, co-founder, and Certified Professional Landman (CPL), gave special class presentations to landman students late last year in Grand Junction and earlier this year in Lafayette.

University of Louisiana Lafayette

Organized by Steve Soychak and Bryan Hotard in Grand Junction, and Oliver LeBlanc in Lafayette, Mr. Hines shared with the students his experiences as a landman, how the industry began and has evolved, where it is today, and technology changes he sees for the future of the industry. Students were also given the opportunity to view and train on iLandMan’s tract-based online land system by entering tract and lease data as well as mapping tracts.

“I always enjoy presenting to these students and seeing the looks on their faces when I share stories from my days as a landman” said Hines. “It’s also exciting to train a new batch of young landmen/women using our technology knowing that they will bring these skills out into the field.”

Richard Hines Energy Management Class

Along with his role at iLandMan, Hines has over 30 years’ experience in the land industry, served as Third Vice President of the American Association of Professional Landman (AAPL), was Chairman of the Certification Committee, served on the Website/IT Committee, and is the current Chairman of the Technology Committee. He was the recipient of the 2008 AAPL Best Director’s Communication Award.

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

NAPE Summit – 2016

NAPE Summit 2016 is in the books and it was one heck of a show! Last we heard there were over 11,500 people in attendance and the convention center floor was buzzing. Our team was happy to be busy answering questions and doing demonstrations all day long.NathanGreneaux

Catching up with old friends and spending some time with our clients was also a welcome treat. We were especially proud to see over 20 of our customer companies with booths at the show, many of which came over to say hello.SarahCaldwellChrisGraham

For the second year in a row, we were lucky enough to have a group of aspiring young oil and gas professionals stop by the booth from the Oklahoma University Energy Management Program. Our very own OU alumni Hank Latimer was more than happy to talk shop with them and share some iLandMan insight.OULandStudentsHankLatimer

Stay tuned for more updates on our upcoming events, wherever they may be!

If you have any questions about iLandMan, or want to set up a demonstration, please give us a call at 1-855-445-9629 or fill out our contact form.

For more pictures from this great event, check out the gallery below or view the album on our Facebook Page where you can tag yourself and your friends.

Oil Crisis: Investment Dream or Acquisition Nightmare?

Buying low and selling high in this market only works if you know the TRUE value of your acquisition.

Nobody, and I include myself, can predict oil prices for the immediate future. However, I do have another type of prediction…more new domestic oil and gas companies will be formed in the next five years than in any similar time frame in the history of the United States. This is for one simple reason, at these prices, oil is the safest investment simply because it is well below its replacement cost. If you look at the true full cycle cost of development and production, today’s price means that it is not possible for the U.S. to sustain exploration even at its present low level. No new exploration means no new reserves and less future production, which eventually leads to lower production and higher prices. So buy low and sell high.

I am not the only one who believes this, which may be why we see record amounts of capital gathering on the sidelines, waiting for the right investment opportunity. So the question is, what should you buy?

In working with our clients to help evaluate acquisitions, here is what we’ve discovered: A typical acquisition in the shale consist of a scattering of wells and leases across a broad area. Pooling agreements usually determine the working interest (expense) and net revenue interest (income) on each well based on tract acreage contribution to the “production unit”. This means that one acre in this unit has a separate and distinct value that is different than one acre in another unit, in the same area, and even on the same lease. The value of each acre is dependent on where it is located, what depths/horizons are part of that acre, how much is developed, and how much undeveloped is remaining. When buying acreage, you need to know how many more wells can be drilled within that unit as per the pooling agreement, as it is now common to see multiple wells drilled within any unit.

Recently we came a across a situation in which the oil and gas lease contained two adjacent tracts of land on the same lease, each tract was in its own separate producing unit for the Haynesville shale formation. One of the units had six producing wells (fully developed) and the other tract had one producing well (five potential additional locations), all drilled during higher gas price years and within two years of each other. Production and depletion for all of the wells was similar, so the depletion type curve, EUR’s for each well, cash flows, and remaining present values would all be the same. One might assume that based on today’s commodity price and the fact that no new wells can be economically drilled, that the value of each tract is based solely on the value of its current production. This assumption would be a mistake, and here’s why…

The unit with six wells is “fully developed”, meaning the reservoir has been fully developed and no more wells will be drilled in that unit, regardless of future commodity price. However, the tract in the unit with only one well drilled and producing can offer five new locations, when prices recover. So the value of the “underdeveloped” acreage has a greater income potential than the fully developed acreage. Think of the undeveloped acreage as an open ended call option. Meaning that at some time in the future, as long as the lease/tract is HBP, the owner of that lease has the right, but not the obligation, to drill additional wells. So, if and when commodity prices rise, the “undeveloped” tract becomes more and more valuable.

Also, it’s important to be aware of which leases have depth/horizon severance issues as well as horizontal and/or vertical pugh clause issues. With this awareness, you can determine what you can keep and what you will lose, as well as how much to budget for future payments and when to pay them.

The key to doing intelligent and effective due diligence and evaluation of an acquisition is to look at and value each tract of land, considering its present EUR and future EUR potential. As prices rise, the tracts with the least amount of developed producing wells will have a greater increase in value than those tracts that are more fully developed.

Tim Supple 2, President of iLandMan

With today’s database and GIS technology, this process can be simple, fast, and well worth the investment. Otherwise, I honestly do not know how anyone can truly be knowledgeable and competitive in acquisitions in today’s environment.

Tim Supple – President – iLandMan