Porter Hedges represents companies in the upstream energy sector ranging from large publicly-traded companies to smaller privately-owned oil and gas companies including landowners and mineral owners. The energy group has extensive experience in upstream agreements such as:

  • Negotiation and drafting of joint venture agreements between companies for purposes of exploration, development, gathering, processing and transportation of oil and gas
  • Negotiating and drafting master limited partnership drop down transaction
  • Acquisitions and divestitures, including financial; asset purchase agreements, membership interest purchase agreements, partnership interest purchase agreements, mergers and other special purpose entity structures
  • Financing upstream projects including, reserve-based credit facilities, commercial bank credit facilities, mezzanine, private equity and public debt and equity offerings
  • Exploration agreements, participation agreements and joint development agreements
  • Production handling agreements
  • Drilling funds
  • Master service agreements
  • Hedging agreements, including ISDA master swap agreements and master netting agreements
  • Oil and gas sales contracts, including NAESB contracts
  • Oil and gas transportation and gathering agreements including long term dedications to support infrastructure construction
  • Volumetric production payment and net profits interest conveyances
  • Oil and gas leases
  • Farm-out and farm-in agreements
  • Operating agreements, COPAS accounting procedures and gas balancing agreements
  • Turnkey, day rate and footage rate drilling contracts – onshore, offshore, domestic and international
  • Seismic data purchase and license agreements
  • Area of mutual interest agreements
  • Pooling and unitization agreements

Experience

  • Representation of Ascent Resources, LLC in the acquisition of natural gas and oil properties from Hess Corporation, CNX Resources, Utica Minerals Development, and a fourth undisclosed seller for $1.5 billion.
  • Representation of BHP Billiton in the sale of certain Eagle Ford Shale assets.
  • Representation of Noble Energy in the $3.2 billion acquisition of 50% of a company’s Marcellus oil and gas development leases and the related joint venture development agreement.
  • Representation of Ascent Resources, LLC in the $1.7 billion acquisition of Utica and Marcellus properties from East Resources, Inc.
  • Representation of Black Stone Minerals, L.P. in the $340 million acquisition of a large and diverse mineral and royalty package from affiliates of Noble Energy.
  • Representation of Red Mountain Energy and IOG Capital in the sale of its STACK position to SandRidge Energy.
  • Representation of Noble Energy in the $1.225 billion divestiture of Marcellus Shale assets to an undisclosed buyer.
  • Representation of Middle Fork Energy Partners, LLC in an acquisition of natural gas and oil producing properties, undeveloped acreage, and related assets located in the Uinta Basin for $155 million from QEP Energy Company.
  • Representation of Talisman Energy in the $1.325 billion acquisition of Eagle Ford shale leases and formed a joint venture to develop the fields with Statoil.
  • Representation a Special Committee of the Gulfport Energy Corporation Board of Directors in the $372 million and $220 million acquisition of Utica Shale Acreage from Windsor Ohio.
  • Representation of EPL Oil & Gas in the purchase of oil and gas assets in the Gulf of Mexico from Hilcorp Energy Co. for $550 million.
  • Representation of White Star Petroleum, LLC in the acquisition of Mississippi Lime and Woodford Shale assets from Devon Energy Corporation for $200 million.

Professionals