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About Molly

Molly Butkus represents and counsels developers, exploration and production companies, midstream companies, private equity funds, purchasers and sellers in all aspects of upstream and midstream transactions, including acquisitions and divestitures, joint venture formation and other day-to-day operational representation.

Experience

Recent Notable Matters

Independent oil and natural gas exploration and production company — acquisition of Clayton Williams Energy, Inc. for $2.7 billion in stock and cash

Independent oil and natural gas exploration and production company — divestiture of Wattenberg Field assets in the DJ Basin for $505 million to Synergy Resources Corporation

Tall City Exploration LLC — agreement with Moss Creek Resources, LLC to sell its Howard and Borden county assets in Texas for $803 million

Private equity-backed seller — sale of Permian acreage and production to an undisclosed buyer for $1.24 billion

Heyco Energy Group, Inc. — sale of its subsidiary, Harvey E. Yates Company, to Matador Resources Co. in exchange for Matador stock

Tall City Exploration LLC — sale of Permian acreage and production to American Energy – Permian Basin, LLC for $440 million

Private equity-backed buyer — purchase of Encana’s East Texas acreage and production for approximately $425 million

Integrated international energy company — multiple divestitures of its producing assets in the Gulf of Mexico

Three Rivers Acquisition LLC and Three Rivers Operating Company LLC — sale of all their Permian Basin oil and gas producing assets to Concho Resources for $1 billion

Manti Equity Partners, LP — $141 million joint sale of Eagle Ford acreage and production to a subsidiary of the Chinese company, MeiDu Holding Co., Ltd.

Apache Corporation — $3.75 billion divestiture of its Gulf of Mexico Outer Continental Shelf business, including an innovative collateral arrangement to secure the performance by the buyer of $2 billion of abandonment exposure

Private equity fund — $150 million capitalization of a portfolio company engaged in exploration and production activities in Texas and Louisiana

Private equity-backed seller — multi-stage divestiture program of oil and gas assets in Texas

Private equity-backed buyer — multiple acquisitions of acreage and production in the Permian Basin

Fortune 500 company — multiple acquisitions and divestitures in the Permian Basin, Bakken, MidCon and Niobrara

Fortune 150 oilfield services company — several alternative investment transactions involving the exchange of services for Net Profits Interests in associated oil and gas properties, which, in each case, included an area of mutual interest, right of first refusal to provide services, as well as structuring of a cash waterfall within a special purpose vehicle to address applicable tax consequences

Kinder Morgan, Inc. — approximately $280 million purchase of CO2 and helium producing properties in the Permian Basin

Private equity-backed seller — sale of oil and gas assets in the Utica Shale

SWEPI LP (a unit of Royal Dutch Shell plc) — $1.9 billion acquisition from Chesapeake Energy Corporation of approximately 618,000 net acres of oil and gas properties in the Southern Delaware region of the Permian Basin

Private equity-backed buyer — $190 million acquisition of approximately 15,000 acres in the Permian Basin

Kinder Morgan, Inc. — purchase of CO2 and Helium producing properties in New Mexico and Arizona for approximately $30 million

Kinder Morgan, Inc. — $7.15 billion sale of El Paso’s exploration and production business unit which includes assets in the Eagle Ford Shale, Permian Basin, Haynesville Shale, Black Warrior Basin, Uintah Basin, Raton Basin, Powder River Basin and the Gulf of Mexico, as well as in Egypt and Brazil

Venoco, Inc. — divestiture of a pipeline system in California

Publications and Speeches

“Areas of Mutual Interest Agreements – Certain Legal Issues to Consider in Texas,” Section Report of the Oil, Gas & Energy Resources Law Section of the State Bar of Texas, Volume 41, Number 3/ Spring 2017.

“Hedging Strategy,” The American Oil & Gas Reporter, July 2015.

“Two Companies Formed Partnership After All, Jury Finds,” Oil & Gas Investor, March 2014.

“Maturing Shale Plays Help Usher in Recent Increase in Upstream MLPs,” Oil & Gas Financial Journal, June 11, 2013.

Credentials

Education

The University of Texas School of Law,
J.D.
2010
with honors
The University of Kansas,
Bachelor of Arts
2006
with honors, Phi Beta Kappa

Bar Admissions

Texas

Affiliations

State Bar of Texas
Houston Bar Association
Houston Young Lawyers Association

News

News

Maturing shale plays help usher in recent increase in upstream MLPs

June 11, 2013
Oil & Gas Financial Journal - Online

Deal of the Week: Kinder Morgan Selling Energy Assets

August 27, 2012
Texas Lawyer - Houston Bureau