Molly Butkus represents and counsels developers, exploration and production companies, midstream companies, private equity funds, purchasers and sellers in all aspects of upstream and midstream transactions, including acquisitions and divestitures, joint venture formation and other day-to-day operational representation.
Recent Notable Matters
Three Rivers Operating Company III LLC — sale of 59,000 net acres in the Delaware Basin for an undisclosed cash consideration to Admiral Permian Resources, LLC
Noble Energy, Inc. — sale of 30,200 net acres in the DJ Basin in Weld County, Colorado to SRC Energy Inc. for $608 million
Independent oil and natural gas exploration and production company — acquisition of Clayton Williams Energy, Inc. for $2.7 billion in stock and cash
Independent oil and natural gas exploration and production company — divestiture of Wattenberg Field assets in the DJ Basin for $505 million to Synergy Resources Corporation
Integrated international energy company — multiple divestitures of its producing assets in the Gulf of Mexico
Tall City Exploration LLC — agreement with Moss Creek Resources, LLC to sell its Howard and Borden county assets in Texas for $803 million
Private equity-backed seller — sale of Permian acreage and production to an undisclosed buyer for $1.24 billion
Heyco Energy Group, Inc. — sale of its subsidiary, Harvey E. Yates Company, to Matador Resources Co. in exchange for Matador stock
Tall City Exploration LLC — sale of Permian acreage and production to American Energy – Permian Basin, LLC for $440 million
Private equity-backed buyer — purchase of Encana’s East Texas acreage and production for approximately $425 million
Three Rivers Acquisition LLC and Three Rivers Operating Company LLC — sale of all their Permian Basin oil and gas producing assets to Concho Resources for $1 billion
Manti Equity Partners, LP — $141 million joint sale of Eagle Ford acreage and production to a subsidiary of the Chinese company, MeiDu Holding Co., Ltd.
Apache Corporation — $3.75 billion divestiture of its Gulf of Mexico Outer Continental Shelf business, including an innovative collateral arrangement to secure the performance by the buyer of $2 billion of abandonment exposure
Private equity fund — $150 million capitalization of a portfolio company engaged in exploration and production activities in Texas and Louisiana
Fortune 500 company — multiple acquisitions and divestitures in the Permian Basin, Bakken, MidCon and Niobrara
Fortune 150 oilfield services company — several alternative investment transactions involving the exchange of services for Net Profits Interests in associated oil and gas properties, which, in each case, included an area of mutual interest, right of first refusal to provide services, as well as structuring of a cash waterfall within a special purpose vehicle to address applicable tax consequences
Kinder Morgan, Inc. — approximately $280 million purchase of CO2 and helium producing properties in the Permian Basin
Private equity-backed seller — sale of oil and gas assets in the Utica Shale
SWEPI LP (a unit of Royal Dutch Shell plc) — $1.9 billion acquisition from Chesapeake Energy Corporation of approximately 618,000 net acres of oil and gas properties in the Southern Delaware region of the Permian Basin
Private equity-backed buyer — $190 million acquisition of approximately 15,000 acres in the Permian Basin
Kinder Morgan, Inc. — purchase of CO2 and Helium producing properties in New Mexico and Arizona for approximately $30 million
Kinder Morgan, Inc. — $7.15 billion sale of El Paso’s exploration and production business unit which includes assets in the Eagle Ford Shale, Permian Basin, Haynesville Shale, Black Warrior Basin, Uintah Basin, Raton Basin, Powder River Basin and the Gulf of Mexico, as well as in Egypt and Brazil
Venoco, Inc. — divestiture of a pipeline system in California
Publications and Speeches
“Areas of Mutual Interest Agreements – Certain Legal Issues to Consider in Texas,” Section Report of the Oil, Gas & Energy Resources Law Section of the State Bar of Texas, Volume 41, Number 3/ Spring 2017.
“Hedging Strategy,” The American Oil & Gas Reporter, July 2015.
“Two Companies Formed Partnership After All, Jury Finds,” Oil & Gas Investor, March 2014.
“Maturing Shale Plays Help Usher in Recent Increase in Upstream MLPs,” Oil & Gas Financial Journal, June 11, 2013.