Austin Elam

Practices

Education and Clerkships

J.D., Georgetown University Law Center, 2010, Barristers' Council; CALI Award - Legal Writing I, Legal Writing II

B.A., History, Minor in Classics, Southern Methodist University, 2007

  • Judicial Intern, Chief Justice Sherry Radack, First Court of Appeals, Houston, Texas, June-August, 2008

Bar Admissions

Texas, 2010

Profile

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

  • "'Billions' Paid to Landowners in Natural-Gas Royalties," American Bar Association Section of Litigation, Energy Litigation News & Developments, January 31, 2013. 
  • "Offshore Federal Leases - ownership, transfer and bonding," CLE presentation, September 24, 2012. 
  • "TRAIN May Stay New EPA Regulation of Power Plant Emissions," American Bar Association Section of Litigation, Energy Litigation News & Developments, October 5, 2011.

Client Focus

Energy

Haynes and Boone Advises GeoMet in Sale of $107 Million of Appalachian Coalbed Methane Properties

Haynes and Boone, LLP advised GeoMet, Inc., an independent energy company, in the sale of substantially all of its coalbed methane interests and other assets located in the Appalachian Basin to ARP Mountaineer Productions, LLC, a wholly-owned subsidiary of Atlas Resource Partners, L.P.

Selected Client Representations

  • Represented the administrative agent and investor in joint debt and equity facilities to finance the acquisition and development of oil and gas properties located in the Eagle Ford Shale Play. The debt facility involved a $100 million advancing line credit facility secured by all of the borrower's assets, including the oil and gas properties. The lenders under the debt facility additionally received a convertible royalty interest, consisting of an overriding royalty interest that converts into a net profits interest, in the oil and gas properties. The equity facility involved the formation of a limited partnership to own and operate the properties and an initial capital investment of $30 million. 
  • Represented US Infrastructure Holdings, LLC in the acquisition of the Wildcat Sabine Gas Gathering System situated in the Bossier-Haynesville Shale. Further represented US Infrastructure Holdings, LLC in the negotiation and documentation of numerous gas gathering agreements and transportation agreements in connection with the Wildcat Sabine Gas Gathering System. 
  • Represented the agent and lender in a $75 million revolving credit facility for the acquisition and development of a gas gathering system located in the Eagle Ford Shale. The loan was secured by all of the borrower's assets, including its various gathering systems and pledges of equity in subsidiaries. 
  • Represented Silvermere Energy PLC in the acquisition of offshore oil and gas assets in the coastal waters of Texas and Silvermere's formation of a U.S. based subsidiary. Additionally, served as U.S. counsel in conjunction with Silvermere's placement on the London Alternative Investment Market. 
  • Represented Wells Fargo Energy Capital, Inc. in a secured $150 million development financing involving shale oil and gas assets in the Pennsylvania Marcellus Shale. Facility was secured by the oil and gas properties and the lenders additionally received a net profits interest from the production. 
  • Represented Wells Fargo Energy Capital, Inc., as the administrative agent and sole lender, in a $50 million senior secured second lien term loan to LRR Energy, L.P. The loan was secured by LRR Energy, L.P.'s oil and gas properties located in the Permian Basin as well as Oklahoma and the Texas Gulf Coast. 
  • Represented the administrative agent and sole lender in a $25 million revolving credit facility to finance the acquisition and development of "conventional" oil and gas properties located in Austin and Waller Counties in Texas. The facility was secured by a lien upon all of the borrower's assets, including the oil and gas properties. 
  • Represented E&P company as borrower under a $250 million credit facility entered into in connection with the company's refinancing of existing indebtedness and recapitalization. 
  • Represented administrative agent and lenders in a $150 million development loan to a borrower focused on the exploration and development of Eaglebine, West Texas and DJ Basin properties. 
  • 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. 
  • 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. 
  • 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. 
  • 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. 

Recognition

Super Lawyers

Texas Rising Stars 2014

Thirty-two Haynes and Boone lawyers have been selected for inclusion in the 2014 edition of the Texas Super Lawyers Rising Stars directory. Compiled through peer nominations and research, the Rising Star distinction is given to only two percent of young attorneys in Texas.

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