Community College of Allegheny County (CCAC)

Community College of Allegheny County

Course Description

LND-104 - Contract Law for Oil and Gas Industry (3 credits)
Prerequisite(s): PREREQUISITES: LND101, LND102, CIT155
This course is a study of the principles of basic contract law as it relates to issues in general business and specifically in the oil and natural gas industry. Emphasis on contract law for the oil and natural gas industry will include additional discussion topics and instruction on contracts utilized in the natural gas industry. The students will learn about various agreements such as farm-ins, farm-outs, pooling, unitzation, communitization, American Association of Petroleum Landman (AAPL) Model Form Operating Agreement and Council of Petroleum Accountants Societies, Inc. (COPAS) Accounting Procedure, various forms of assignments, joint exploration agreements, gas purchase, gas sales, gas distribution, transportation and gathering agreements.

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