Early in the month, the Firm represented the Seller of producing and development properties in six (6) West Texas counties with a value of $88 Million. Partner Matt Garner worked closely with the client to negotiate the terms of the transaction and to prepare the necessary documents; to transfer the operations; and to secure the necessary corporate authorizations and resolutions. The Buyer is a publicly traded exploration and development company based in Texas and was represented by a major international law firm. The head of the Firm's governmental practice, Ross Peavey, participated in the post-closing transfer of operations with the Texas Railroad Commission.
Later in the month, Garner represented another Seller of properties covering over 6,000 acres of land with a value of $177 Million. Once again, Garner helped negotiate the transaction and drafted all of the Seller's documents. The Buyer is a publicly traded independent oil and gas company and was represented by a large national law firm.
One day after Garner's closing, Partner Tom Taylor represented the Sellers of over 150 producing wells and development sites in the Permian Basin with a value of $70 Million. Taylor worked with the client to negotiate the sale and prepared the necessary documents for the Sellers to close. "When an issue came up in the negotiation, we were able to offer practical solutions and work with the Buyer's legal counsel to come to a prompt resolution,"
Garner added, "Having been operators ourselves, we are able to understand the financial goals of our clients, and the opportunities the properties present to the Buyers. With this unique perspective of both sides, we can add value to the transaction by participating in the negotiations and in efficiently close the transactions."
All divestures were negotiated; the purchase and sale agreements executed; and the transactions closed within the month of February.
The firm has offices in Austin, Dallas and Houston.
For further information, please visit our website at www.taylorgarnerlaw.com