Law 792: Energy and Natural Resources Transactions
This survey course will begin with an introduction to the oil and gas, coal and wind power industries. The course then will cover oil, gas, and other mineral property interests and interests in wind power projects, with a view to understanding how those interests (1) are treated for federal income tax purposes and (2) can be used to raise funds for corporate finance purposes. With this background, the course will analyze the transaction documents for a number of common transactions in which parties transfer some or all of their ownership rights to other parties, including documents for leasing transactions, farmout transactions, purchase and sale transactions, financing transactions (including production payments, mezzanine finance, and secured lending), joint ventures, exploration and development funds, and master limited partnerships. Course materials will include a limited number of provisions from the Internal Revenue Code, sample transactional documents, and selected law review articles. Students in this course will have unique exposure to contract law and issues in drafting transactions.
Sequence and Prerequisites: Prior courses in Income Taxation and Oil & Gas Law are suggested but not required.
Evaluation: Final examination.