The Pennsylvania National Association of Royalty Owners (NARO) Conference Held in State College
Posted: March 31, 2014
The Pennsylvania chapter of the National Association or Royalty Owners (NARO) met in State College last week for their fourth annual conference. The mission of NARO is to encourage and promote exploration and production of minerals in the United States while preserving, protecting, advancing and representing the interests and rights of mineral and royalty owners through education, advocacy and assistance to our members, to NARO chapter organizations, to government bodies and to the public. Membership in NARO includes individuals, family and trust entities, businesses, corporations and institutions.
Over two days, the conference offered participants the opportunity to hear from a full slate of speakers and to learn from the experiences that other members share. Tropics presented in the breakout sessions included lease expiration and termination, estate planning, negotiating surface agreements, reading your royalty check stub and tax planning among others.
The general session on the first day was highlighted with the unveiling of Penn State’s soon-to-be released version of a royalty calculator and production tracker. The model is being based on the accumulation of data in Pennsylvania. The second day’s general sessions included updates on oil and gas case law and talks about Navigating PA-DEP’s public data bases and the role of natural gas in power generation - with special emphasis on Pennsylvania projects that are underway. The technical presentations concluded with Cabot Oil & Gas showcasing their procedure using line gas to power drilling and completions on their pad sites; leading to lower fuel costs and improved air quality.
Each year, the event attracts about 200 participants from across the state (and country) and many consider their participation a key part of wisely managing their oil and gas assets.