Structuring and Negotiating Farmout Agreements: Modern Exploration and Production Challenges

Interplay With JOAs, Sale vs. Lease Transactions, Land Descriptions, Risk Allocation, Financial Responsibilities

A live 90-minute CLE webinar with interactive Q&A

Tuesday, March 12, 2019

1:00pm-2:30pm EDT, 10:00am-11:30am PDT

Early Registration Discount Deadline, Friday, February 22, 2019

or call 1-800-926-7926

This CLE webinar will address critical issues and challenges that energy counsel must consider when structuring and negotiating farmout transactions. The panel will discuss highly relevant provisions of farmout agreements, land description, lease provisions, risk allocations, and financial responsibilities.


Farmout transactions are essential to the energy industry. These transactions and related agreements enable multiple parties to share the risk and expense as well as the benefits of projects that one party would be unable to complete on its own.

Farmout agreements lack a standard form and must contemplate evolving exploration and production techniques. Counsel creating these complex and often far-reaching agreements must assess the goals of the two parties, identify primary areas to address, and deal with risk management concerns.

Listen as our panel of experienced energy practitioners examines the essential elements to consider in structuring and negotiating farmout transactions and how counsel can craft agreements to enable the parties to control costs, reduce risks, and increase a project's potential for success.



  1. Overview of the use of farmout agreements across the energy sector
  2. Essential considerations in structuring and negotiating farmout transactions
    1. Basic agreement structure
    2. Key areas to address
    3. Recent judicial interpretation of farmout agreements
  3. Using JOAs and farmout agreements together


The panel will review these and other notable questions:

  • Understanding the critical elements of structuring farmout transactions
  • Land description, key lease provisions and allocating risk
  • Avoiding pitfalls in farmout transactions and joint operations
  • Common omissions in a farmout agreement that create conflict and how to address them


Chicken, Brent
Brent D. Chicken

Steptoe & Johnson

Mr. Chicken is an experienced natural resources attorney with extensive knowledge of the challenges faced by companies...  |  Read More

Farnsworth-T Brooke
T Brooke Farnsworth

Farnsworth & vonBerg

Mr. Farnsworth focuses his practice on energy, business and commercial litigation. The matters he handles include...  |  Read More

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