TITLE EXAMINATION

Every task we perform derives from some level of a title examination. Accuracy is critical in examining title and a single mistake can result in significant economic impact. At Triad we have implemented a “checks and balance system” to ensure our title examination result in accuracy. We continually explore new methods to implement to ensure the accuracy of our title.

Title examinations generally fall into three different categories:

LEVEL A This involves what we call “Ultimate Title Examination”. This title examination begins at the sovereignty of the soil and includes any and every instrument that pertains to the surface, minerals, royalty and leasehold estates. This level title examination typically is for the drilling of a well or for units tracts within a pooled unit.

LEVEL B This is a less detailed title examination with the primary focus being the determination of the mineral ownership for the purpose of oil and gas lease acquisition.

LEVEL C This is a cursory title examination which could take the form of a “Lease Check” to determine if lands are either currently leased or held by production from a producing well or to determine surface ownership in order to acquire road or pipeline right of way or to settle surface damages for a wellsite.

OIL AND GAS LEASE ACQUISITION

Any good geological idea without an oil and gas lease(s) is just that – a good idea. We understand that no well gets drilled without an oil and gas lease. Our Professional Landmen posses the knowledge and experience to move swiftly with accuracy to acquire leases in competitive and complicated areas. Triad's Management staff has the ability to quickly assess land complexities of an area to determine the best course of action to implement to acquire the oil and gas leases and to achieve the project goals.

IN-HOUSE LAND FUNCTIONS

• Preparation and analysis of operating agreements, farmout agreements, pooling/unit designations.
• Notification lists for RRC commission purposes to include Rule 37/38 waivers.
• In-house preparation and analysis of other contracts, letter agreements, determination of working interests and net revenue interests for proposed gas units.
• Lease analysis and preparation schedules for delay rental, shut-in royalty payments and other critical dates.
• Railroad Commission research.
• Notification lists for RRC commission purposes to include Rule 37/38 waivers.

DUE DILIGENCE FOR PRODUCING PROPERTY ACQUISITIONS/DIVESTITURES

Completing a due diligence for any project can be difficult. Typically there is a deadline and much work to be done in a short time. Triad has completed due diligence on many projects both from an in-house and field perspective. We have the expertise to confirm working and net revenue interests, review operating agreements, farmouts/farmins, assignments, letter agreements, oil and gas leases and other significant information. We are able to ascertain pertinent information from these files and report them in a form that is easily understandable.

DIVISION ORDERS

This is typically the final step in the maturation of a well from a land standpoint. Payment of proceeds from and oil or gas well need to commence on or before 120 days from the date of first production. We have experienced professionals at Triad capable of analyzing title and preparing division of interest schedules in order to issue division orders to working interest owners, overriding royalty owners and royalty owners. The final division of interest schedule would include an exhaustive review of all title opinions and title curative to ensure the proper parties are placed in a pay status.

PIPELINE RIGHT OF WAY ACQUISITION

The achievement of getting your well drilled and completed is exhilarating but sometimes getting your gas to the marketplace can be the antithesis of that. We have Professional Landmen who specialize in working closely with surveyors to select the best possible route and then negotiate and secure right of way agreements to get your gas to the marketplace. Triad Landmen are respectful to landowner concerns while also understanding the objectives of our clients.

SURFACE DAMAGE SETTLEMENTS  

There is probably not a more sensitive subject that we deal with then the settling of surface damages for a proposed drillsite. The only way to deal with any surface owners is in a professional and respectful manner. This will typically result in a satisfied client and landowner. Only a Professional Landman with excellent people skills and a good working knowledge of oil and gas operations is able to achieve the desired results.