2018iogawvaprilnews

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Independent Since 1959

NEWS

April 2018

Cotenancy Modernization Act Now WV Law West Virginia’s 83rd Legislature, 2nd Regular Session, passed House Bill 4268, the “Cotenancy Modernization and Majority Protection Act,” on March 5, 2018, and Governor Justice signed the bill (“Cotenancy Act”) on March 9, 2018. The new law will become effective on June 3, 2018 (i.e. 90 days following passage).

The Cotenancy Act is an important development for owners of oil and natural gas mineral interests and operators seeking to develop and produce those resources by providing another method to minimize waste and promote economic

development. Charlie Burd, Phil Reale, Jim Fealy and Ben Beakes played important roles on behalf of IOGAWV to educate legislators and successfully promote the passage of H.B. 4268.

The Cotenancy Act is a legislative revision to the common law relationship between cotenants owning “oil or natural gas and their constituents.” It is important to note that the Cotenancy Act is limited to joint ownership of oil or natural gas and their constituents by an undivided interest in a single tract of oil or natural gas.

The Cotenancy Act authorizes “the lawful use or development of oil or natural gas and their constituents” under certain conditions Mark Clark described below.

Spilman Thomas This authorization & Battle, PLLC is in contrast to existing common law that allowed a cotenant owning a very small fractional interest in the mineral tract to effectively prevent development Cotenancy Act Continued on page 8

See What’s Waiting at the Summer Meeting

Bring the family and join your friends for the 2018 IOGAWV Summer Meeting at The Greenbrier in White Sulphur Springs, West Virginia. You won’t want to miss the excellent lineup of speakers during the industry presentations on Monday and Tuesday. The fun of IOGAWV’s 43rd Annual Summer Meeting takes place August 5-7 and you won’t want to miss the good times awaiting you!

Golf tee times are available Sunday morning from 11:07 to 11:37 on the Meadows Course.

Sunday evening is the westernthemed welcome reception and banquet atop Kate’s Mountain.

Come enjoy our traditional buffet of lobster and filet mignon. The Josh Stewart Band will be providing entertainment for this popular

comfortable and casual event.

Industry presentations and business session begin on Monday from 8:30 a.m. to 10:00 a.m. in the Eisenhower Room.

Monday is filled with sporting events, as well, with something for everyone.

• The morning begins with the men’s and women’s doubles tennis tournament from 9:00 a.m. to 11:30 .m. at the Tennis Club.

• The Trap & Skeet Tournament will take place at The Greenbrier Gun Club on Kate’s Mountain Monday, August 6, with shooting times available from 9:30 a.m. to 5:30 p.m.

Practice times will be available on Sunday. Please call (800) 624-6070 to make practice and

tournament reservations at the Gun Club.

• Golf tee times are available Monday on the Meadows Brett Loflin Course from Vice President 11:17 a.m. to & Program Chair 2:07 p.m.

• The mixed doubles tennis tournament takes place from 1:30 p.m. to 4:00 p.m. Monday at the Tennis Club.

Monday evening features dinner on your own. Following dinner. wear your IOGAWV badge and head to the casino for our After Dinner Reception at 8:30 p.m. The Casino Join the Fun Continued on page 16

INSIDE

Marc Monteleone / 2 Mike McCown / 3 Charlie Burd / 4 Greg Kozera / 5 Hugh Byers / 7 Industry Events / 9 Ergon / 11 Mark Taylor / 13 Member News / 14 Jim Rode / 15 Sarah Smith / 17 Summer Meeting Sponsor Form / 18 Summer Meeting Registration Form / 19

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Marc Monteleone IOGAWV President

Thank You For All Your Hard Work The 2018 legislative session is over and what a session it was. I am sure it will go down in history as the year of the teachers’ strike, but we all know what history was really made this year. 2018 is the year of Co-Tenancy! Yes, we all worked together, and the legislation passed both houses in essentially the same form as the bill was originally introduced. That alone is significant but what is more significant is how we all worked together to make this happen.

IOGAWV, WVONGA, the West Virginia Farm Bureau, Bounty Minerals, the West Virginia Royalty Owners Association, the West Virginia Land and Mineral Owners Association and the West Virginia Surface Owners Rights Organization all came together to help pass this important legislation. However, even with our efforts, this bill would not have become law without the support and guidance of our legislative leadership. Key

leaders in both the House and Senate championed our cause and each worked relentlessly to make Cotenancy a reality. We all owe a big debt of gratitude to each of these individuals and I hope we all show our support when each one is up for re-election.

I want to thank also our government relations team for their tireless efforts this session. Our team is second to none and they worked literally around the clock during the entire session (remember our bill passed on the 59th day) to ensure the passage of Cotenancy.

Our team understands the political process better than most and they skillfully worked with our legislative leaders to overcome each obstacle put in to block passage of Cotenancy.

And now to the most important part of this year’s team….each of you. Cotenancy would not have passed without your help. The bill was in jeopardy late in the session

and we reached out to each of you as part of our grass roots campaign.

When we reached out you answered the call and you answered the call loudly. Hundreds of letters were sent to our legislative leaders and hundreds of telephone calls were made to the Senate urging passage of the Cotenancy bill. Your letters Thank You Continued on page 10

2017-2018 OFFICERS BOARD MEMBERS Marc Monteleone President Brett Loflin VP/Program, Govt. Affairs Chair Jim Pritt Secretary-Treasurer/Commerce Co-chair Scott Freshwater Immediate Past President James W. Crews Director, Commerce Co-chair J. Kevin Ellis Director, Governmental Affairs Co-chair Doug Malcolm Director, Environmental Chair Mike McCown Director, Comm. & Educ. Chair Sam McKown Director, Producers Issues Co-chair James Rode Director, Safety Chair Sarah Smith Director, Membership Vice Chair Rick Toothman Director, Producers Issues Co-chair

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Mike McCown Communications & Education Committee Chair

IOGAWV Buyers’ Guide Now Available Online The Independent Oil and Gas Association of West Virginia (IOGAWV) has announced that the exclusive IOGAWV Buyers’ Guide (the “Guide”) — the premier resource of relevant products and services for oil and gas professionals — is now available at the IOGAWV website at www.iogawv. com.

IOGAWV partnered with Overland Park, Kan.-based Strategic Value Media (SVM), a leading nationwide provider of print and digital media solutions for national, state and local trade and membership associations, to produce the Guide.

IOGAWV is proud to provide its members with this useful and easily

accessible year-round resource.

“This comprehensive Guide offers access to a vast network of industry suppliers,” said Charlie Burd, executive director of IOGAWV. “We are very pleased with the fine work SVM has done with this Guide, which we anticipate will now greatly assist industry professionals in making educated purchasing decisions throughout the year.

The response to this Guide by the industry has been nothing short of outstanding.”

The 2018 version of the Guide features updated and expanded company and product listings, in addition to other valuable information relating to the oil and gas

industry. The Guide provides IOGAWV members and other industry professionals with an efficient way to browse for goods and services. The Guide also offers oil and gas suppliers and companies exceptional visibility by showcasing their products and services to a targeted, industry-specific buyer group.

If your company or business has not yet taken advantage of this exceptional opportunity to highlight your products and services in the Guide, it is not too late! To learn more about advertising your products or services in this exclusive Guide, please email iogawvadvertise@svmmedia.com.

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Charlie Burd Executive Director, IOGAWV

From the Burd’s Nest: Legislative Madness, Sadness, Gladness!!

If you’re a fan of basketball, March is a time of year that’s extra special. It’s that time when everywhere you turn, sports fanatics are talking about bubble teams, brackets and buzzer beaters. What are we talking about—well March Madness, of course! That time of year (usually mid-March through the beginning of April) when the National Collegiate Athletic Association (NCAA) men’s and women’s college basketball tournaments take place.

The Madness: Well, there’s also that sixty-day period from mid-January to mid-March we lobbyists call “Legislative Madness.” It’s during this period that hundreds of special interest groups converge on the state capitol seeking to get legislation passed that will support or advance their cause. It is a time when friendships are forged, adversaries are identified and sometimes it’s hard to tell the difference! And lastly, it is a time where there is a reliance on the collective wisdom of 134 elected legislators to do the right thing for our State.

This year we had a teacher work stoppage to embrace. That meant long lines to get into the Capitol to work. It meant lots of noise, crowded hallways, crowded Senate and House of Delegates chambers, preoccupied member offices, signage, costumes and, did I mention, lots of noise?? In the end, their efforts netted them the result they sought, and normalcy returned. And it got much quieter.

The Sadness: Few in this state would disagree that oil and natural gas development is the one best HOPE for West Virginia’s economic future. If the billions of dollars of

investments in hundreds of Marcellus and Utica shale wells, in infrastructure development including processing facilities, fractionators, compressor stations and thousands of miles of transmission pipeline isn’t enough, what about the purchase of equipment, machinery, vehicles and the creation of thousands of jobs (17,720 direct jobs)! And that’s just the direct spending—add to this the indirect investments and job creation from the companies that serve the producers. It’s incomprehensible, really.

During the session, IOGAWV developed some fact sheets to use with legislators. The raw math was a bit shocking: Since 2008, $997 million paid in severance taxes; $957 million paid in property taxes to West Virginia counties; $255 million paid to retire the West Virginia’s unfunded Workers’ Comp Debt. That’s $2.21 billion dollars!! Add to this payroll taxes, personal income taxes and $500 million in royalty payments in 2016 alone.

Given all these billions, why would the industry have faced a call for an increase in severance tax burden? It was screamed from the Senate floor and preached in town hall meetings to teachers throughout the state.

The message seemed simple: just raise the severance tax on natural gas by 2.5% and our state’s financial woes are solved. It’s only 2.5%. We heard that urged on several occasions throughout the Session. Might I remind our members that 2.5% represents an astounding 50% tax increase on an industry already suffering from low commodity prices on top of a negative basis differential regardless of the transmission sys-

tem into which you produce. Picking winners and losers is a dangerous business.

The Gladness: Fortunately, the majority of our elected representatives, from both sides of the aisle, sees and understands the importance of the oil and natural gas industry to all West Virginians. From the beginning of the 2018 Legislative Session, IOGAWV’s number one priority was passage of cotenancy legislation. That was accomplished through House Bill 4268, The Cotenancy Modernization and Majority Protection Act, on March 5, 2018. On February 15, Committee Substitute for House Bill 4268 passed the House of Delegates with two non-threatening amendments and was sent to the Senate where, after successfully navigating two committees, Senate floor debate and passing three readings of the full Senate, HB-4268 was sent back to the House of Delegates which concurred with a title amendment and passed the legislation by a 5841-1 vote. SUCCESS!! House Bill 4268 was signed into law by Governor Justice on March 10, 2018, and becomes effective June 3, 2018.

In addition to the cotenancy legislation, the industry also saw House Bill 4270, the long-awaited royalty reporting transparency or check-stub bill, pass on March 10, 2018. This bill relates to §22-6-A or horizontal wells only. This was a concession sought by IOGAWV to protect small conventional producers who strive to sustain marginally producing wells as it is. The royalty owner groups and associations conceded this change. The bill is now before Burd’s Nest Continued on page 12

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Greg Kozera Learned Leadership LLC

The World Just Changed Again!!

Are YOU Ready?

Last month in this column I talked about being a disrupter. This year at the World Petrochemical Conference (WPC) in Houston, Texas on March 19-23, a new study was presented that will disrupt the petrochemical industry. Recall the words of John Chambers, chairman and CEO of Cisco USA, “If you don’t innovate fast, disrupt your industry, disrupt yourself, you’ll be left behind.”

Today, technology has become the great disrupter.

Last year the World Petrochemical Conference centered on the huge advantages of US shale gas to the petrochemical industry but did not mention where it came from. They had no idea that the Shale Crescent USA, YOU, are producing 30% of

the USA’s natural gas supply and a large part of the liquids.

The big change this year was a 45-minute panel discussion from the main stage about the Shale Crescent USA having a huge natural gas advantage and therefore feedstock advantage, in front of the 1,300+ attendees from 40+ countries.

The study commissioned by Shale Crescent USA, “Benefits, Risks and Estimated Project Cash Flows: Ethylene Project Located in the Shale Crescent USA versus the US Gulf Coast” was presented to the world as part of this panel. Representatives from Shell, Bechtel (who is constructing the Shale plant at Monaca) and Mountaineer Storage were also on the panel.

This study compares the financial returns and risks of a major petrochemical and plastics investment in our region with an identical investment in the US Gulf Coast. The study will help create an understanding of the basis for decisions like the recent PTT-Daelim announcement.

It will give local companies hard data they can use to justify expansion. It will give foreign companies, like those in Japan, the hard data they need to justify coming here and bringing high-wage jobs for our people.

The study, which was done by IHSMarkit, a highly respected global company, says a new petrochemical plant built in our Shale Crescent AreYOUReady? Continued on page 16

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Hugh Byers Direct Energy

Nymex Natural Gas Futures Contract 12-Month Forward Strip Average Prices Through 3/26/2018

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Cotenancy Act Continued from page 1 of the oil and natural gas -- essentially a veto power by any cotenant despite the wishes of 99.9% of the ownership interest. This power in one or more minority interest owners is based upon case law that held that development of the minerals without agreement of 100% of the ownership interest constitutes “waste” which may be prevented by injunctive relief.

The conditions imposed in §37B1-4(a) of the Cotenancy Act authorizing the “lawful use or development” of a single mineral tract are: A. The oil and natural gas mineral tract must be owned by seven (7) or more royalty owners (meaning that if only six separate individuals or entities own all of the oil and natural gas in a tract or parcel then the Cotenancy Act may not be utilized for development); B. The developing operator (or owner) must have “made reasonable efforts to negotiate with all royalty owners in an oil or natural gas mineral property;” C. The developing operator must obtain the written consent (by lease or other writing) to the development from royalty owners vested with at least 75% of the right to develop, operate and produce oil, natural gas or their constituents (the “consenting cotenants”).

If these three conditions are met, the lawful use or development is “permissible, is not waste, and is not trespass” and the consenting cotenants “are not liable for damages for waste or trespass due to the lawful use or development.” However, the development of the oil and natural gas is further subject to the following conditions and restrictions applicable to “nonconsenting cotenants” and “unknown or unlocatable mineral interest owners:”

1. The nonconsenting cotenants must receive payment in accordance with one of two options that each nonconsenting cotenant may elect; 2. Royalty payments must be reserved for unknown and unlocatable mineral interest owners and a report and remittance of the reserved funds made to the State Treasurer as the Unclaimed Property Administrator; 3. A nonconsenting cotenant is entitled to receive based on his or her election either: a. Production Royalty -- a prorata share of production royalty, paid on the gross proceeds received at the first point of sale to an unaffiliated third-party purchaser and free of post production expenses, equal to the highest royalty percentage paid to his or her cotenants in the same mineral property, under a bona fide, arms-length transaction and lease bonus and delay rental payments or other non-royalty mineral payments, calculated on a weighted-average net mineral acre basis [or in the circumstance where only the target stratigraphic formation is leased by a consenting cotenant then the highest royalty, bonus and delay rental shall be paid]; OR b. Working Interest Participation - a carried working interest participa tion for his or her prorata share of the revenue and cost equal to his or her share of production at tributable to the tract or tracts being developed according to the interest

of such nonconsenting co tenant, exclusive of any royalty or overriding royalty reserved in any lease, assign ments or agreements AFTER THE MARKET VALUE of such noncon senting cotenant’s SHARE OF PRODUCTION EQUALS DOUBLE THE SHARE OF SUCH COSTS PAYABLE OR CHARGED to the interest of such non consenting cotenant; 4. A nonconsenting cotenant has 45 days following the operator’s written delivery of its “best and final lease offer” in which to make the election between a production royalty and working interest participation. If the nonconsenting cotenant fails to deliver a written election to the operator within the 45-day period, the nonconsenting cotenant will be “deemed to have elected” the production royalty option; 5. A nonconsenting cotenant then has 30 days after the election or “deemed election” of a production royalty to appeal to the Commission (presumably the Oil and Gas Conservation Commission) regarding the issue of whether there has been compliance with the requirement to pay the highest royalty in the same mineral property and the appropriate lease bonus and delay rental payments. Notwithstanding an appeal by a nonconsenting cotenant, the operations regarding the mineral tract may continue during the appeal to the Commission; 6. The nonconsenting cotenants and unknown and unlocatable interest owners electing or “deemed electing” the production royalty shall be subject to Cotenancy Act Continued on page 10

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Industry Events

Please Add These Dates To Your Calendar April 16-18, 2018 Marcellus to Manufacturing Conference Marriott Waterfront Place Morgantown, WV Info: https://mmdc.wvma.com

June 19-20, 2018 IOGAWV Teacher Education Conference Embassy Suites Charleston, WV Info: www.iogawv.com

May 6-8, 2018 IOGCC Annual Business Meeting Sheraton Downtown Oklahoma City, OK Info: www.iogcc.publishpath.com/ events

June 20-22, 2018 Virginia Oil & Gas Association Annual Meeting Hilton Garden Inn Virginia Beach, VA Info: www.vaoilandgas.com

May 18, 2018 SOOGA Spring Golf Outing Lakeside Golf Course Beverly, OH Info: www.sooga.org

June 25-27, 2018 IPAA Mid-year Meeting Fairmont Austin Hotel Austin, TX Info: www.ipaa.org

June 4, 2018 Ted Cranmer Memorial Golf Outing & Steak Fry Wanango Golf Club Reno, PA Info: www.pioga.org

July 10-12, 2018 Tom Dunn Energy Academy WV Wesylan Buckhannon, WV

August 5-7, 2018 IOGAWV Summer Meeting The Greenbrier White Sulphur Springs, WV Info: www.iogawv.com August 15-16, 2018 Summer NAPE Brown Convention Center Houston, TX Info: http://napeexpocom/ August 17, 2018 SOOGA Fall Golf Outing Oxbow Golf Course Belpre, OH Info: www.sooga.org August 23, 2018 Divot Diggers Golf Outing & Steak Fry Tam O’Shanter Golf Club Hermitage, PA Info: www.pioga.org September 21-22, 2018 IOGAWV Sports Weekend Bridgeport Country Club Bridgeport, WV September 30 – October 2, 2018 IOGCC Annual Conference Coeur D’Alene Hotel Coeur D’Alene, ID Info: http://iogcc.publishpath. com/events October 17-18, 2018 Fall Oktoberfest, Annual Meeting and Sports Outing Seven Springs Mountain Resort Champion, PA Info: www.pioga.org November 11-13, 2018 IPAA Annual Meeting Ritz-Carlton New Orleans, LA Info: www.ipaa.org

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Cotenancy Act

Continued from page 8

and benefit from the “other terms and provisions most favorable to the nonconsenting cotenant or unknown or unlocatable interest owners AND they “shall not be subject to or liable under any warranty of title, jurisdictional or choice of law provisions, arbitration provisions, injection well provisions, disposal well provisions, and storage provisions AND the operator and consenting cotenants“ shall only develop the specifically targeted stratigraphic formation” with the nonconsenting cotenants and unknown or unlocatable interest owners retaining “all other formations unless or until reasonable efforts are made to renegotiate under this section for each additional formation;” 7. A nonconsenting cotenant electing the working interest participation option “shall be subject to and shall benefit from other terms and provisions determined to be just and reasonable by the Oil and Gas Conservation Commission in a manner similar to the provisions of §22C-9-7(b)(5)(B)” governing deep wells AND the operator may proceed with the development; 8. A nonconsenting cotenant electing a production royalty and any unknown or unlocatable interest owner shall have “no liability for bodily injury, property damage, warranty of title, or environmental claims, arising out of site preparation, mineral extraction, maintenance, reclamation, and other operations with respect to minerals produced” except for their intentional acts; 9. Surface Use Limitation -- in the event mineral property is owned by a nonconsenting cotenant

and developed pursuant to §37B-1-4, then “in no event shall drilling be initiated upon, or other surface disturbance occur, without the surface owner’s consent regardless of whether such surface owner possesses any actual ownership in the mineral interest,” but this language “shall not require surface owner consent for tracts on which surface disturbance does not occur or tracts otherwise subject to an existing surface use agreement, oil and gas lease which includes surface use rights, or other valid contractual arrangement in which the owner has granted rights to the operator to use the Thank You

surface for horizontal drilling or any other use for which this article is used.”

Of course, this article is not an all-encompassing description of the Cotenancy Act. There are definitions for “royalty owner,” “prorata share,” “post-production expense,” etc., that are important to understand. There are also provisions empowering the Oil and Gas Conservation Commission to administer portions of the Cotenancy Act. You should review the new law carefully as you work toward utilizing it. If you have questions, please contact Mark Clark at MClark@Spilmanlaw. com or Dave Yaussy at DYaussy@ Spilmanlaw.com.

Continued from page 2

and calls were heard. Many legislators commented to me that they received your call or letter and were persuaded by your request to pass Cotenancy. You made the difference!!

As we all know, passage of Cotenancy is vitally important to our industry, state and region. It will help allow our industry to offer HOPE for the future of our great

state by providing good paying jobs, increased tax revenues and fuel to power our Country into energy independence and dominance. Cotenancy was the most important piece of legislation passed in 2018 and we could not have done it without everyone’s help. So THANK EACH OF YOU FOR ALL YOUR HARD WORK!!

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Burd’s Nest Continued from page 4 the Governor for further action.

All in all, it was a good session for the industry. Did our adversaries get everything they wanted? NO! Did we get everything we wanted?

NO! Compromise generally means balance and success. House Bill 4563, which proposed to increase the existing marginal well exemptions for both oil and natural gas wells was caused to be introduced

by IOGAWV. IOGAWV lobbyists maneuvered artfully to get the bill on committee agendas and successfully caused it to pass in the two House of Delegates committees before legislative time came to a close.

Although the bill did not pass, the stage was certainly set for next year.

IOGAWV will pursue this legislation in the 2019 Legislative Session as it helps complete the puzzle on keeping wells in service and providing natural gas to several gas distribution systems around the State where new vertical wells have not been drilled in many years. This legislation has the support of the West Virginia Public Service Commission staff.

In conclusion, I want to thank the IOGAWV Executive Committee members Marc Monteleone, Scott Freshwater, Jim Pritt and Brett Loflin (who doubles as our Governmental Affairs chair); to Kevin Ellis, Governmental Affairs Vice Chair; and your IOGAWV lobbying team of Phil Reale, Jim Fealy and Ben Beakes for their outstanding support of our efforts. In addition to those just mentioned, I want to also recognize IOGAWV legal counsel, George Patterson, who reads more legislation than the Capitol bill drafting staff, and to the IOGAWV staff for all they do in my absence from the office.

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Mark Taylor WeatherBELL Analytics

WeatherBELL 2018 Summer Forecast

Image: WeatherBELL Temperature Anomaly Forecast – June to August 2018 For more information about WeatherBELL’s services and to get the hot-off-the-press winter forecast, please visit our website www.weatherbell.com or contact Mark Taylor at (770) 649-0000/taylor@weatherbell.com.

After a very active late winter period, our attention turns to expectations for the summer season.

In April, we are anticipating an early start to summer in the southcentral states, centered on Texas.

Periodic warm shots will move northeastward and fight the leftovers of winter to the north.

The heart of the summer is expected to be near to warmer than normal in most areas. We are particularly concerned about drought along the Southeast Coast, which could amplify any Bermuda High Pressure systems that push into the East Coast.

Stay tuned to WeatherBELL energy services for the latest monthly and weekly forecast updates.

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Member News

MVB Celebrates Nasdaq Closing Bell Event MVB Bank, the Fairmont-based financial institution, celebrated a major achievement April 27 on the floor of the world’s second largest stock exchange.

Members of the MVB board of directors and the bank’s senior management team participated in the Nasdaq closing bell ringing ceremony in New York in celebration of the company’s continued success.

The company first began trading on the Nasdaq Capital Market on Dec. 7, 2017, under the symbol “MVBF.” Wednesday’s ceremony represents a turning point in the bank’s history, MVB CEO Larry Mazza said.

“I’m excited to be the first bank from West Virginia in 18 years to be listed on the Nasdaq,” he said.

“I’m excited about our stock price — it’s up 50 percent over the last 52 weeks and the S&P 500 is only up 17. I’m excited about our trading volume — we had traded just 1,000 shares not too long ago and now we’re trading near 20,000 shares a day.”

Because of all of MVB’s success, Mazza said he knows the company is capable of doing and becoming more.

“Some people would say, ‘Larry, you should be pretty satisfied, you made it to Nasdaq,’” he said. “But I say, think bigger. Nasdaq is not the destination, Nasdaq is just part of the journey. Today, we’re $200 million market cap. Why can’t we be a billion? We can do that. Our team is ready for the challenge.”

Frank Sutton, MVB’s central division market president, said the ceremony was a testament to years of hard work put in by all of MVB’s team members.

“It’s the result of outstanding and

strategic growth, going from $8.5 million to $175 million in market capitalization since 2005, it’s a major milestone,” he said. “It’s the culmination of more than a decade of team work and dedication.”

Now that MVB is operating on a national stage, the company has positioned itself to continue its success for years to come, Sutton said.

“This event, and being listed on the Nasdaq, it will cause greater liquidity for our stock and it will basically support growth going forward,” he said. “Our plan is to grow, that’s always been our mission. This will enable us to do so.”

MVB locations throughout West Virginia held watch parties Wednesday afternoon, where employees were able to witness the bell ringing ceremony via live stream.

West Virginia Gov. Jim Justice marked the occasion with a proclamation declaring March 28 as “MVB Day” in the Mountain State.

The proclamation was signed by Secretary of State Mac Warner and presented to MVB officials.

MVB was founded in 1999 and has grown to include 14 bank branches, as well as 18 MVB mortgage locations in West Virginia, Virginia, Washington, D.C., North Carolina and South Carolina.

For more information on MVB, visit www.mvbbanking.com.

The Exponent Telegrams Staff Writer Charles Young can be reached at 304-626-1447 or cyoung@theet. com.

Shown above, from left, MVB CEO Larry Mazza and board Vice Chairman David Alvarez.

Members of the MVB Board of Directors and the MVB senior management team participated in the Nasdaq Closing Bell Ringing ceremony in New York on Wednesday.

Submitted photo

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Jim Rode Safety Committee Chair

Membership Safety Survey The IOGAWV Safety Committee, with the help of BrickStreet Insurance, has developed a safety needs survey. The survey will help inform the committee as to the needs of the membership in offering safety training in the coming months. Please fill out the survey and return to Safety Committee Member Jessica Greathouse at jgreathouse@coreoperating. com or mail to her at Core Appalachia Operating, LLC, 414 Summers Street, Charleston, WV 25301, no later than Friday, April 6, 2018.

Thank you for your help.

1. OSHA imposes training and education requirements for almost all standards. Are you aware of the OSHA training and education requirements for your company? a. Yes b. No 2. Are you aware of risks and threats to your company for non-compliance of OSHA requirements? a. Yes b. No 3. Does your company maintain an OSHA 300 log? a. Yes b. No 4. Would your company be interested in sharing safety statistics, anonymously through IOGA, for benchmarking purposes? a. Yes b. No 5. Would you like to receive more information regarding OSHA requirements for your business? a. Yes (If yes - Please provide your contact information) b. No

6. Does your company currently participate in the IOGAWV/ BrickStreet Association Safety Discount Program? a. Yes b. No 7. How does your company provide safety awareness and loss prevention training to your employees? Please check all that apply: a. Computer/videos b. On-the-job/hands on c. Professional instructors onsite d. Professional instructors offsite e. All of the above f. Other 8. Are you and your company interested in industry specific safety and loss prevention training to be provided by IOGA/ BrickStreet Association Safety Program? a. Yes (If yes, please indicate training topics that are of interest to you and your company) b. No 9. Does your company currently have written procedures in place should an on-the-job injury occur? a. Yes b. No

10. What is the procedure your employee must follow when an on-the-job injury occurs? a. Report injury to a supervi sor or specific individual immediately b. Report injury to a supervi sor or specific individual within 24 hours c. Report injury to a supervi sor or specific individual with no defined timeframe d. Other – please specify 11. Does your company require employees to complete an incident/ accident report at the time of an injury? a. Yes b. No 12. Once a workers’ compensation claim is reported, who at your facility manages the claims and injuries through the entire process? a. Supervisor or specific indi vidual who received the injury report b. Company owner/officer c. Company safety or risk management employee d. Other: Please Specify 13. Do you have a disciplinary action policy in place for workers that do not follow your injury reporting policy? a. Yes b. No Safety Survey Continued on page 17

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Join the Fun Continued from page 1 Night fun will feature a private IOGAWV bar and the opportunity to enjoy an evening of your favorite casino games.

Tuesday begins with our second set of industry presentations from 8:30 a.m. to 10:00 a.m. in the Eisenhower Room.

The festivities then move back outdoors for more sporting fun. The Trap & Skeet Tournament enjoys its second day of competition from 9:30 a.m. to 4:30 p.m.

The shotgun-start golf tournament will take place on the Old White course Tuesday, August 7, beginning at 12:30 p.m. If you have questions, please contact Hill Herrick at (304) 536-4909.

There will be a special event for spouses and non-tournament golfers on Tuesday. Plans are being finalized, but we’ll be doing something special from noon to 2:00 p.m. More details will be available in May. Your Summer Meeting adventure concludes Tuesday evening with an awards reception at the Outdoor Pool from 7:00 p.m. to 8:00 p.m.

A luau will follow the awards reception, also at the Outdoor Pool, from 8:00 p.m. to 10:00 p.m. This special evening will conclude with music, dancing and fireworks! Dare we say it will be a sparkling evening?

To make golf reservations, please email Hill Herrick at hill_herrick@ greenbrier.com. To make reservations for Trap and Skeet, call 1-800-

624-6070. You do not need to make reservations for the Tennis Tournament (just show up).

Please call Jessica Dowdy at (304) 536-1110 ext. 4943 or jessica. dowdy@greenbrier.com to make your room reservation by July 1.

There are a number of other hotel options in Lewisburg, including the Fairfield Inn & Suites, Hampton Inn, Historic General Lewis Inn, Holiday Inn Express & Suites and Minnie Manor B&B. In White Sulphur Springs, there is the James Wylie House B&B. Summer Meeting registration is open online at www,iogawv.com.

You can also use the sponsor form on page 18 and the registration form on page 19. See you there!

Are YOU Ready? Continued from page 5 USA Region would have a fourtimes greater cash flow and save $3.6 nillion over a similar plant built on the Gulf Coast. The Shale Crescent USA is now the most profitable region in the world for a petrochemical plant.

This study could disrupt the petrochemical industry. For the past 75+ years, the US Gulf Coast has been the most profitable region for a petrochemical plant.

Because of the study results, we spent most of our time at WPC with key decision makers of our prospect companies. We had meaningful meetings with CEOs, company presidents, VPs, directors and GMs. All of this happened because of the new technology that disrupted the oil and gas industry and allowed us to create world-class wells through horizontal drilling and hydraulic fracturing. We had a special, invitationonly lunch had resulted in four solid leads. All were foreign companies.

One man was so excited that he said to me, “Can you send these slides to my boss TODAY?”

What does this mean to you and your company? The slide that got the most attention in Houston was our slide showing the location of the wells, gas processing facilities and plant locations. How many places in the world are there where raw materials, fuel, petrochemical plants and their customers are all in the same place? The US Gulf Coast is getting their fuel and feed stocks primarily from the Permian (which is 500 miles away) and you in the Shale Crescent USA. This is a significant cost to Gulf Coast petrochemical plants. Once they manufacture their pellets, 70% of the polyethylene converters are in our region requiring them to be shipped here at a significant cost. The converters are in our region because they are close to 50% of the US and Canadian markets.

What would a significantly increased local gas demand mean for your company? The gas here is literally underneath the plants! Could this create direct sales to end users

of gas or shorter pipeline hauls? We will still need to ship gas out of our region, but would a mix of long-haul pipelines with local sales that avoid a major transportation fee help improve profitability for our industry?

This increased local demand isn’t going to be a sprint; it is a marathon, but at least we now have several miles behind us. We got a lot of positive media on the study the week we were in Houston. We have been told that this news has a “very long tail.”

We have begun to create awareness and people all over the world are interested. We have a lot of follow up work to do from WPC. The next big event for Shale Crescent USA is the West Virginia Manufacturers’ Association Conference on April 16th and 17th in Morgantown, WV. Ron Whitfield of IHSMarkit will present the study results to the people in this region. It will be a great conference.

A disruption has been created.

The world has changed again and we are in the middle of it. Are YOU ready?

17

Sarah Smith Membership Vice Chair

IOGAWV Board Approved Three New Members in March Please welcome these new members approved in March: Astorg Ford ALL Brian Valentine 2028 7th St. Parkersburg, WV 26101 Phone: (304) 485-8585 valentine@astorg.auto astorgauto.com

Coen Energy, LLC ALL Stephen Lamm 1045 West Chestnut St. Washington, PA 15301 Phone: (724) 223-5500 Cell: (412) 491-4162 Fax: (724) 223-5501 slamm@coenenergy.com www.coenenergy.com

Debo, Bill RET Bill Debo 33034 Sawgrass Ct Magnolia, TX 77354 Phone: (396) 777-2085 debert33034@comcast.net

If you would like your company, be it a large producer or a small producer, conventional or horizontal, to be featured in IOGA News, please contact IOGAWV’s Charlie Burd at cburd@iogawv.com.

Safety Survey Continued from page 15 14. Which of the following IOGAWV/BrickStreet services are important to you and your company to reduce risks to your employees associated with workers’ compensation? Check all that apply. a. Safety assessments (includ ing inspections of your facility to identify risks and hazards) b. Education and training (both on/offsite sessions) c. Safety program develop ment (support to create a workplace safety and health program) d. Loss analysis (identification of accident/claims frequen cy, severity, etc.) e. All of the above f. Other

Please list the top five safety training topics you would like to see offered.

1. _________________________ __________________________ 2. ______________________ ___________________________ 3. ________________________ ___________________________ 4. _________________________ ___________________________ 5. _________________________ __________________________

18

Summer Meeting Sponsor Form

2018 Summer Meeting Sponsor Form The Greenbrier, White Sulphur Springs, WV August 5-7, 2018 ____________________________________________________________ Company Name ____________________________________________________________ Contact Name _____________________________________________________________ Address _____________________________________________________________ City State Zip ____________________________________________________________ Telephone Email

Sponsorship opportunities:

______ Diamond Event Sponsor $5,000 and up (call for availability) • Banner hung at sponsored event • Specific signage at sponsored event • Listing on Diamond Sponsor board • Logo and name listed in event PowerPoint presentation • Logo listed in event program, web site page and newsletter ______ Platinum Sponsor $3,000 • Listing on Platinum Sponsor board • Logo and name listed in event PowerPoint presentation • Logo listed in event program, web site page and newsletter ______ Gold Sponsor $2,000 • Listing on Gold Sponsor board • Logo and name listed in event PowerPoint presentation • Logo listed in event program, web site page and newsletter ______ Silver Sponsor $1,000 • Listing on Silver Sponsor board • Logo and name listed in event PowerPoint presentation • Logo listed in event program, web site page and newsletter ______ Bronze Sponsor $500 • Listing on Bronze Sponsor board • Logo and name listed in event PowerPoint presentation • Logo listed in event program, web site page and newsletter Please return this form to IOGAWV, address below, by July 13, 2018. Be sure to email a high resolution (300-dpi minimum) version of your company’s color logo and a link to your web site to lmillersmith@iogawv.com.

Thank you for your continued support! www.iogawv.com

300 Summers Street | Suite 820 | Charleston, WV | 25301 P: (304) 344-9867 F: (304) 344-5836

19

Summer Meeting Registration Form

2018 Summer Meeting Registration The Greenbrier, White Sulphur Springs, WV August 5-7, 2018 Please complete and return this form, along with your check, by July 13, 2018. Please type or print the information as you would like your badge to read.

__________________________________________________________________ Name on Room Registration __________________________________________________________________ Company Name __________________________________________________________________ Address __________________________________________________________________ City, State, Zip, Telephone Registration Fees A) Member (per person) $ 375.00 B) Member’s Spouse $ 225.00 C) Children Under 21 $ 100.00 (if attending IOGAWV events) D) Children Over 21 $ 225.00

E) Kate’s Mountain Only $ 200.00 F) Kate’s Mtn. Only, < 21 $ 100.00 G) Non-Member (per person) $ 600.00 H) Non-Member’s Spouse $ 350.00

Individuals with special needs (mobility, access, medical diet, etc.) should indicate specific needs in a letter attached to your registration form. ____________________________ Name as it should appear on Badge

ABCDEF (Circle one)

$_________

____________________________ Name as it should appear on Badge

ABCDEF (Circle one)

$_________

____________________________ Name as it should appear on Badge

ABCDEF (Circle one)

$_________

____________________________ Name as it should appear on Badge

ABCDEF (Circle one)

$_________

Spouses’ Event (includes lunch)

$125

$_________

Late fee of $25 per person registering after July 13, 2018 TOTAL

$_________ $_________

IOGAWV • 300 Summer Street, Suite 820 • Charleston, WV 25301 Phone: 304-344-9867 • Fax: 304-344-5836 NO REFUNDS AFTER JULY 13, 2018 Golf Tee Times should be made directly with Hill Herrick: email hill_herrick@greenbrier.com or call 304-536-4909. www.iogawv.com

300 Summers Street | Suite 820 | Charleston, WV | 25301 P: (304) 344-9867 F: (304) 344-5836

300 Summers Street, Suite 820 Charleston, WV 25301 Phone (304) 344-9867 Fax (304) 344-5836

Presort Standard U.S. Postage PAID Charleston, WV 25312 Permit No. 175