“My strong offshore regulatory and title background allow me to identify often overlooked potential issues in a client’s transaction, so we have time to come up with a workable solution together in advance of critical target dates. No one wants to find out after closing that the deal won’t work as planned due to unanticipated regulatory agency requirements and procedures.”
Collette Gordon is a Houston-based lawyer sought by the region’s energy industry for sophisticated transactions, complex regulations and difficult disputes involving the Outer Continental Shelf and onshore in Texas and Louisiana. She has earned a well-regarded reputation with E&P and midstream companies for oil and gas acquisitions and divestitures, energy-related contract drafting, onshore and offshore title examination, leasing, right of way and pipeline issues.
“My clients range from small, independent entities to midstream to major international giants.” Here’s a look at two examples of representative engagements:
A relatively new E&P company sought to acquire all of the OCS assets of a large independent oil and gas company. “We advised on terms of the letter of intent (LOI), confidentiality and access agreements, and helped to negotiate a more favorable Purchase and Sale Agreement for our client. During the due diligence period, I led the team conducting title review, which included directly reviewing the Seller’s physical lease and title files on-site for over 70 leases and rights-of-way involved in the transaction, as well as analyzing the records of the Bureau of Ocean Energy Management and adjacent Louisiana parishes to prepare title reports for use in connection with determining title defects for all leases. As a result of our efforts, we identified over $70MM in title defects, which we asserted to obtain both title cures as well as an adjustment to the purchase price. Following closing, I headed up the team that made all of the regulatory filings with BOEM and the adjacent Louisiana parishes to effect the transfer of the purchased assets and associated fixtures and other equipment and to change operatorship of the assets.”
- As a condition to emerging from bankruptcy, a prior OCS operator was required to resolve certain outstanding claims asserted by the BOEM and Bureau of Safety and Environmental Enforcement (BSEE).
Collette engaged with BSEE on behalf of the entity to negotiate a significant reduction in the over $80MM in decommissioning costs assessed against the client based on a review of the agency’s files regarding facility status.
- After the client emerged from bankruptcy, Collette worked with BOEM to update the client’s BOEM qualification file, allowing it to formally execute and file documents, such as assignments and changes in designated operator, with the agency. She also guided the entity through BOEM’s financial assurance/bonding requirements and Oil Spill Financial Responsibility (OSFR) demonstration to ensure entity compliance with the applicable regulations.