Brandon E. Durrett Member

Transactions and Negotiations:

Negotiated and closed multi-seller $90MM Purchase and Sale Agreement for publicly-traded oil company in sale of Delaware Basin producing leasehold assets in Texas and New Mexico, including transition agreement and separate seller’s agreement

Negotiated and drafted $68MM Purchase and Sale Agreement for private equity funded E&P company for sale of producing leasehold properties in Barnett Shale

Represented publicly-traded E&P company in negotiation and closing of $18MM Exchange and Sale Agreement with concurrent arbitration agreement in settlement of leasehold title dispute

Negotiated, drafted, and closed $40MM Purchase and Sale Agreement for publicly-traded oil company in purchase of Delaware Basin producing and proven undeveloped leasehold acreage in New Mexico

Negotiated, drafted, and closed Asset Acquisition and Development Agreement for independent oil company for sale of producing leasehold properties in Delaware Basin involving exchange and settlement of complex operating agreement rights, detailed development obligations, and a series of carried interest reservations and put options

Negotiated, drafted, and closed Purchase and Sale Agreement for operating position in 3,600-acre producing Permian oil field for mid-size Texas E&P company, including preparation of finance and conveyance instruments and due diligence on contract, title, and regulatory matters

Negotiated and drafted 45,000-acre Joint Development Agreement for major Texas E&P company for joint exploration and development of tribal leasehold in the San Juan Basin, as well as associated agreements governing joint operations, tribal participation rights, confidentiality, surface management, and indemnification

Negotiated and closed Farmout and Participation Agreement and associated operational and service contracts for development of 18,000 leasehold acres in Montana

Negotiated and closed sale of real property and injection facilities for acquisition of several saltwater disposal wells and plugged wellbores in the Permian Basin for an independent Texas operating company

Represented independent Texas operating company in negotiation of contracts for joint development of Edwards Plateau lease, including a Farmout Agreement with a complex series of drill-to-earn requirements and participation options, and a custom Joint Operating Agreement

Represented mid-size city in bidding and issuance of oil and gas lease on 1,500 acres of city land, involving negotiation of drill sites, injection rights, vehicle access, special surface and environmental damages, noise and aesthetic protections, setback and airspace restrictions, and compliance with various municipal and district ordinances 

Managed and closed sale of 2,800 acres of ranch land for small Texas oil and ranch company, involving partition and exchange of adjacent lands, resurvey of riparian tracts, reservation of mineral acreage and water rights, and negotiation of easements and access rights

Regulatory Matters:

Represented offset operator protesting Rule 37 spacing exception and substantial compliance application before Railroad Commission of Texas involving survey errors and deviated wellbore in associated-prorated oil field with complex technical testimony regarding structure geology

Successfully defended applicants for saltwater disposal well permits before Railroad Commission of Texas in protest by offset landowners and mineral estate owner for well injecting into non-productive strata

Defended small independent operator in enforcement action by Railroad Commission of Texas regarding liability for cleanup of oil blowout from legacy wellbore that had been plugged and abandoned by operator and reconditioned by landowner as water well

Negotiated Production Sharing Agreement for major international energy company among dozens of leasehold, mineral, and non-participating interest owners in multiple tracts for compliance with spacing and density rules in completion of multiple horizontal oil wells 

Represented mid-size E&P company in settlement of disputes with prior lessor regarding application of density and proration field rules to size and location of retained acreage

Successfully negotiated release of undeveloped leasehold acreage in exchange for client operator’s waiver of objection to lease line spacing violation

Litigation and Disputes:

Participated in defense of mid-size E&P company in litigation regarding exercise of preferential rights under multiple operating agreements in context of package sale of 40,000 leasehold acres 

Successfully settled accounting of unpaid production revenue and subsurface trespass claim on behalf of unleased mineral owner by transfer of oil well facilities to client

Defended private storefront owner against multiple limitations title claims in party wall boundary dispute, resulting in non-judicial settlement and boundary line agreement

Represented non-participating working interest owner in settlement of operator’s overcharge of ad valorem taxes and underpayment of production revenue from six oil wells