Randy King is a partner in the energy section of Porter & Hedges. He is listed in the Best Lawyers in America in Oil & Gas Law and has been selected as a “Texas Super Lawyer” in Energy/Oil & Gas Law by Texas Monthly every year since 2004. Mr. King represents clients in a wide range of energy-related projects located onshore, offshore, upstream, midstream and internationally, including:

• acquisitions, divestitures, construction and financing of natural gas storage facilities
• natural gas storage and carbon capture and sequestration leases and agreements
• acquisitions and divestitures of producing and non-producing oil and gas properties 
• oil and gas exploration and development programs
• exploration and development project agreements including joint operating agreements, COPAS accounting procedures, exploration and development agreements and joint operating agreements
• natural gas purchase, sales and marketing agreements and NAESB agreements
• natural gas processing and treating agreements, oil and gas transportation agreements, natural gas storage agreements, natural gas supply agreements
• acquisitions and divestitures of pipelines and gathering systems
• operating and maintenance agreements for mid-stream facilities
• production handling agreements
• master service agreements and IADC drilling contracts
• hedging, derivative, swap and ISDA agreements
• credit support annexes, cash collateral agreements and letters of credit
• master setoff and netting agreements
• reserve-based and mezzanine oil and gas producer and mid-stream financings
• seismic data licenses and acquisition agreements

Prior to becoming a lawyer, Mr. King spent 13 years practicing as an independent petroleum landman. His experience included negotiating oil and gas leases, title examination, structuring oil and gas property acquisitions and exploration transactions. Mr. King has been a Certified Professional Landman since 1984.

Representative Experience

• Representation of major natural gas company in connection with numerous acquisitions, construction and operation of natural gas storage projects in depleted reservoirs, salt domes and other storage matrices including the purchase of the Katy Gas Storage Facility (Texas), the Freebird Gas Storage Facility (Alabama), and the Caledonia Gas Storage Facility (Mississippi).
• Drafting of CO2 capture (sequestration) leases and natural gas storage leases for numerous client projects
• Representation of numerous oil and gas exploration companies in establishing and funding joint ventures and partnerships for oil and gas exploration and development projects, both domestic and international.
• Representation of numerous oil and gas producing companies in acquisitions and divestitures of onshore and offshore producing oil and gas properties.
• Representation of various companies in acquiring natural gas storage and carbon capture and storage rights (also called carbon sequestration rights) from landowners.
• Representation of natural gas pipeline in negotiation of contracts for physical delivery under NAESB and custom contracts and derivative contracts made under ISDA, including related credit support documents.
• Representation of major oilfield service company in innovative project to satisfy over $40 million dollars of offshore well plugging, abandonment and decommissioning obligations in partially depleted oil and gas properties in the Gulf of Mexico.
• Representation of exploration and production companies and oilfield service companies in drafting and negotiating master service contracts.
• Representation of commercial banks in producer financings in excess of $500 million secured by onshore and offshore producing oil and gas properties.
• Representation of U.S. exploration company in negotiation of contracts for drilling project in France.

Professional / Civic Affiliations

• Martindale Hubbell AV Rated Attorney
• Member of the Oil, Gas and Mineral Law Section of the Houston Bar Association
• Houston Association of Petroleum Landmen, the American Association of Petroleum Landmen
• Certified Professional Landman
• Kiwanis Club of Houston

News

• Porter & Hedges Team Acts as Legal Advisor to Noble Energy in $494 Million Acquisition (1/13/2010)
• 2010 Best Lawyers in America Announced (7/31/2009)
• Seventy percent of Porter & Hedges' Attorneys Named as 2007 Texas Super Lawyers (9/17/2007)
• 27 Porter & Hedges' Attorneys Named as 2006 Texas Super Lawyers (9/25/2006)
• Seventy Percent of Porter & Hedges' Partners Selected as Super Lawyers (10/1/2005)

Publications

• South Texas Law Review:  Royalty Owner Claims to Take-or-Pay Payments Under the Implied Covenant to Market and the Duty of Good Faith and Fair Dealing (1/1/1993).
• Insurance And Indemnity Clauses In Oil & Gas Contracts (6/30/2004)
• To Hedge Or Not To Hedge, That Is The Question For E&P Companies (6/27/2003)
• What Landmen Need To Know About The Texas Anti-Indemnity Statute (1/1/2003)
• Oil Field Contracts: What You See May Not Be What You Get (11/29/2002)
• The Express Negligence Rule In Oil Field Contracts (11/1/2002)

Events

• "Insurance and Indemnity Clauses in Oilfield Contracts" (9/10/2008)
• "Gas Sales and Purchase Contracts from a Producer's Perspective" (2/21/2008)
• "ISDA Master Agreements" (1/17/2008)
• “Pooling Interests of the Forced Involuntary Variety,” Texas Land Institute (9/1/2005)
• Land and Lease Issues from the Landowners Perspective, University of Houston Law Foundation Advanced Oil and Gas Short Course (2/1/2005)
• “Document Retention And Destruction Policies In The Energy Industry: How To Cover Your Bases,” Document Retention and Destruction in Texas, Lorman Education Seminar (8/24/2004)
• “Insurance and Indemnity Clauses in Oil & Gas Contracts,” American Association of Professional Landmen Annual Convention (6/30/2004)
• “Top ‘5’ Oil and Gas Leasing Issues from the Landowner’s Perspective,” Houston Association of Professional Landmen Spring Seminar (3/1/2003)
• “Top Five Issues in Oil and Gas Leasing,” Houston Bar Association, Oil, Gas & Mineral Law Section Meeting (3/1/2003)
• “Land and Lease Issues from the Landowner’s Perspective,” University of Houston Law Foundation Advanced Oil and Gas Short Course (1/1/2003)
• “Natural Gas Storage: A Landman’s Perspective,” Houston Association of Petroleum Landmen Seminar (12/1/2000)