Holland Services Due Diligence in Houston, Texas
The Due Diligence Agent’s primary function is to verify record title of various oil and gas assets while simultaneously ensuring that a Seller has the ability to transfer those assets unencumbered and in a manner consistent with a negotiated sales agreement. The Agent utilizes various websites and title search software, along with unfiled records located in the Seller’s office to reach their conclusions. Must have a thorough understanding of title, leasing and payment responsibilities of an operator through all stages of oil and gas development, and is responsible for making a determination as to what does or does not constitute a “defect” as that term is defined in the sales agreement. Agent must be able to operate in an environment with tight deadlines and strict standards.
Thoroughly analyze oil and gas leases and all clauses, including an analysis of the depths covered, the lessee’s authority/ability to pool acreage, and clauses providing for the partial release of acreage.
Analyze Seller’s internal records ensuring timely payment of all bonuses, rentals and royalties required by leases.
Review any operating agreements and evaluate all provisions altering interests or relationships of the parties (preferential purchase rights, maintenance of uniform interest provisions, provisions requiring prior approval of other parties, depth or formation limiting provisions, etc.).
Review and fully evaluate any and all farm-in/farm-out agreements, saltwater disposal agreements, term assignments, and any other agreement affecting Seller’s interests or obligations.
Utilize the public records made available by various governmental reporting agencies to locate all wells affecting each oil and gas lease.
For each oil and gas well, ensure that the drilling and allocation unit created conforms with the specific limitations outlined within all affected leases, and evaluate production history with an eye toward potential Defects.
Examine Title Opinions and Title made available by the Seller to verify ownership of individual assets, utilizing various county software & websites to update title as necessary.
Bachelors degree from an accredited university or college.
Minimum 3 years of experience as Landman or related field.
Intermediate to advanced knowledge of the Microsoft Office suite of programs (i.e. Excel, Word, Access, PowerPoint, and Outlook).
Able to read, write, and speak the English language fluently.
Able to work in an office setting and operate a computer and other office productivity machinery frequently as well as perform minimal lifting on occasion.
Must be able to work with minimal supervision and demonstrate appropriate initiative when making decisions and problem-solving. Must be able to prioritize and organize multiple simultaneous tasks to ensure timely and accurate completion. Willingness to learn and apply knowledge in title law desired; demonstrated knowledge of title law in any state, preferred. Must have excellent communication skills on all levels within and outside of the organization, and the ability to negotiate win-win solutions. Must be flexible and willing to adjust to project needs and various courthouse environments.