As a member of the Energy Practice Group, Austin Elam maintains a broad transactional energy practice that includes energy finance and the acquisition, development and disposition of oil and gas properties. He has represented lenders and borrowers in secured reserve based financings, project development and project finance, and negotiated oil and gas purchase and sale agreements and a variety of other transactions ranging from gas gathering agreements to ISDA Master Agreements and Schedules
Austin has represented clients in connection with oil and gas plays in the Eagle Ford, Bakken, Haynesville and Marcellus Shales. He also has experience in the alternative energy arena, including solar energy project financing and a financing in connection with an oil recycling refinery.
Publications
- "TRAIN May Stay New EPA Regulation of Power Plant Emissions," American Bar Association Section of Litigation, Energy Litigation News & Developments, October 5, 2011.
Selected Representative Experience
$450 Million Syndicated Credit Facility for GeoResources, Inc.
Represented lead arranger and administrative agent in connection with $450 million syndicated revolving credit facility for GeoResources, Inc., an independent oil and gas company engaged in the acquisition and development of oil and gas reserves. The credit facility is secured by interests in oil and gas properties located in Texas, Louisiana and in the Williston Basin.
$150 Million Development Loan - Marcellus Shale
Represented Wells Fargo Energy Capital, Inc. in a secured $150 million development financing involving shale oil and gas assets in Pennsylvania. Facility was secured by the oil and gas properties and the lenders additionally received a net profits interest from the production.
Acquisition of Offshore Oil and Gas Properties in Conjunction with Listing on the AIM
Represented Silvermere Energy PLC in the formation of a U.S. based subsidiary and in Silvermere's subsequent acquisition of offshore oil and gas assets in the costal waters of Texas. Additionally, served as U.S. counsel in conjunction with Silvermere's placement on the London Alternative Investment Market.
Guggenheim Partners - $50 Million Debt Purchase and Refinancing
Represented credit provider in connection with a $50 million distressed debt purchase and subsequent refinancing of a green energy oil recycling refinery in San Francisco, California.
Amegy Bank, N.A. and National Bank of Arizona - Solar Energy Project Financing
Represented the agent and lender in a complex financing of a solar energy company which will lease solar equipment to thousands of homeowners. The financing was secured by various federal and state solar energy grants and incentives and the leased solar equipment.
$200 Million Second Lien Loan - Acquisition of Oil and Gas Properties
Represent second lien lender and agent in connection with $200 million second lien loan for acquisition of Barnett Shale Properties, including negotiation of intercreditor agreement between first lien lenders and hedge providers and second lien lenders.