A team of Haynes and Boone, LLP lawyers from Houston and Dallas advised Alta Mesa Holdings, LP in its recently announced joint development agreement with Bayou City Energy to jointly drill and develop wells in the STACK play in central Oklahoma.
The agreement between Bayou City’s wholly owned subsidiary BCE-STACK Development LLC and Alta Mesa subsidiary Oklahoma Energy Acquisitions, LP calls for initially drilling 40 horizontal wells in Kingfisher County, Okla. The operations, which began this month, could be extended to additional wells under subsequently agreed well packages, according to the agreement.
Bayou City committed to fund all of Alta Mesa’s working interest share up to a maximum average costs per well of $3.2 million in drilling and completion. Alta Mesa is responsible for any drilling and completion costs exceeding the limit.
Haynes and Boone team members included Houston Partner Buddy Clark rel="noopener noreferrer" and Houston Associates Austin Elam, Kim Mai, and Ellen Desrochers (Transactional), Houston rel="noopener noreferrer" Partner Joe Vilardo and Houston Associate Kraig Grahmann (Finance), Houston Partner rel="noopener noreferrer" Kristina Trauger (Corporate Governance), and Dallas Counsel Michael Cooper and Dallas Associate Lauren White (Tax).
The agreement between Bayou City’s wholly owned subsidiary BCE-STACK Development LLC and Alta Mesa subsidiary Oklahoma Energy Acquisitions, LP calls for initially drilling 40 horizontal wells in Kingfisher County, Okla. The operations, which began this month, could be extended to additional wells under subsequently agreed well packages, according to the agreement.
Bayou City committed to fund all of Alta Mesa’s working interest share up to a maximum average costs per well of $3.2 million in drilling and completion. Alta Mesa is responsible for any drilling and completion costs exceeding the limit.
Haynes and Boone team members included Houston Partner Buddy Clark rel="noopener noreferrer" and Houston Associates Austin Elam, Kim Mai, and Ellen Desrochers (Transactional), Houston rel="noopener noreferrer" Partner Joe Vilardo and Houston Associate Kraig Grahmann (Finance), Houston Partner rel="noopener noreferrer" Kristina Trauger (Corporate Governance), and Dallas Counsel Michael Cooper and Dallas Associate Lauren White (Tax).
