Sometimes it seems like there are a thousand moving parts in an acquisition of oil and gas properties – negotiation of agreements, documentation, due diligence, post-closing responsibilities – sometimes it seems endless. Sadler can help you by bringing a focus on the transaction that lets you get through it and back to business. Our attorneys have been on all sides of the transaction – whether domestic or foreign, producing or non-producing, upstream or mid- stream assets.
Our attorneys are routinely involved in negotiating and drafting purchase and sale agreements, assignments and agreements incident to the transaction. Our attorneys have been involved in documenting the purchase and sale of billions of dollars of assets, and are familiar with the course of the deal and the potential pitfalls.
The pre-closing due diligence process can be chaotic. Sadler attorneys bring order to that chaos. Whether the title due diligence process involves title defect notices, full-blown opinions, or something in between, Sadler attorneys focus on expediting the due diligence process in a manner which yields readable, understandable documents to aid the client in their understanding of the oil and gas properties and the impact of the state of the title on the purchase price and related matters. We are large enough to bring the necessary force to bear for large acquisitions, yet still nimble enough to adjust to changing conditions or demands dictated by the state of the title and the relative valuations of the properties. Because we have attorneys on staff who have served in an in-house capacity, we understand and have experienced the aspects of the due diligence phase of the acquisition in a fashion which goes beyond the title. We are experienced with the geological reports and engineering reports which form a part of the due diligence phase of an acquisition. As curative documentation is so important in the due diligence process, we work closely with the client both on our recommendations for curative action and the analysis of the curative materials upon receipt.
Our involvement in acquisitions has not been limited to the representation of purchasers, but has also encompassed representation of lenders in the transaction. As such we are experienced in negotiating, preparing and reviewing credit agreements, loan agreements, mortgages, financing statements, security agreements and related documents and instruments for both borrowers and lenders.
Because of the Sadler view that acquisition is simply one point on the continuum of exploration and production, we understand the importance of a purchaser’s or seller’s post-closing responsibilities, and the legal support to maximize the efficiency of exploration. Sadler attorneys are experienced in negotiating and drafting a variety of documents which may be necessary post-closing, such as joint operating agreements, participation agreements, unitization or pooling agreements, farmout agreements, surface or subsurface agreements, indemnity agreements, and net profits or production payment agreements.
Sadler Law Firm also represents common carriers and gas utilities in their exercise of the power of eminent domain, in defending their property rights when the power of eminent domain is exercised, and in aiding them in the enforcement of their easement rights against encroachments.