Haynes and Boone Lawyers Counsel Global Energy Development in Colombian Contract Area Farmout


HOUSTON – A Haynes and Boone, LLP team has advised client Global Energy Development PLC in an agreement with Everest Hill Energy Group Ltd. to farm out a 50 percent working interest in its Bolivar license in Colombia for $5 million.

Under terms of the joint venture agreement, Everest will also pay all the costs of a three-well venture involving re-entry and hydraulic fracturing two wells and drilling and completing a third.

The Haynes and Boone team was led by Of Counsel Bob Thibault and included Partner Ricardo Garcia-Moreno and Associate Valisa Berber-Thayer, all of the firm’s Houston office; and Dallas Partners Rafael Anchia and Larry Pascal.

Global Energy, a UK-based petroleum production and development company focused on South America, holds the association contract for Bolivar with state oil giant Ecopetrol. The contract area covers about 21,000 acres.

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