Structuring Preferential Rights to Purchase in Oil & Gas Transactions: Triggers, Assignment and Enforceabilty

Recording of a 90-minute CLE webinar with Q&A


Conducted on Thursday, September 4, 2014

Recorded event now available

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Program Materials

This CLE webinar will provide guidance for energy counsel on preferential rights to purchase in oil & gas transactions. The panel will examine key considerations, including triggers, implications on title, implications for future transactions, and consents to assign. The panel will also discuss best practices for addressing the structure, assignment and enforcement of preferential rights.

Description

Preferential rights to purchase are an important part of joint operating agreements (JOAs) in the oil and gas industry, where multiple parties have an interest in the property. Preferential rights often become a factor in oil and gas package sales.

When oil and gas property is involved in a purchase, lease or easement transaction, counsel to the parties must be able to identify and evaluate existing preferential rights, which events will trigger those rights, whether and when the rights can be assigned, and the impact of preferential rights on the property’s title.

Counsel for parties to JOAs or package sales must carefully draft the preferential right and assignment language in order to ensure the provisions are enforceable as intended and do not place unanticipated limitations on the oil and gas property that may impact future transactions.

Listen as our authoritative panel examines preferential rights to purchase in oil & gas transactions. The panel will discuss key considerations, including triggers, impact on property title, implications for future transactions, and consents to assign. The panel will offer best practices for addressing the structure, assignment and enforcement of preferential rights.

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Outline

  1. Key considerations
  2. Triggering events
  3. Implications on title
  4. Implications for future transactions
  5. Assignment
  6. Best practices

Benefits

The panel will address these and other key questions:

  • What are the drafting challenges with preferential rights and assignments?
  • What implications might preferential rights in an oil and gas property have on the deal?
  • What impact does a consent to assign provision have on future transactions?

Faculty

T Brooke Farnsworth
T Brooke Farnsworth

Partner
Farnsworth & vonBerg

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

Dick Watt
Dick Watt

Partner
Watt Beckworth Thompson Henneman & Sullivan

Mr. Watt focuses his practice on general civil litigation, oil and gas law, and oil and gas litigation, including...  |  Read More

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