David H. Sweeney
Associate
Brandie Martin
713.221.2688 x2024
David Sweeney is a member of the firm’s energy, finance, and real estate and projects practice areas, where he focuses his practice on representing and counseling clients in the acquisition and divestiture of oil and gas and coal properties, storage facilities, platforms, and other facilities, and all aspects of domestic and international oil and gas operations, from production through sales, including the negotiation and analysis of joint operating agreements; unit and unit operating agreements; joint development agreements, farmouts and other joint ventures; leases and host government arrangements; gathering and transportation arrangements; offtake agreements; processing, production handling, and similar agreements and marketing agreements.
Mr. Sweeney's finance practice focuses on the representation of a wide variety of lenders and borrowers in the financing of oil and gas properties; coal, sand, and other mining properties; pipeline systems and other midstream assets; and drilling rigs, platforms, and other development facilities. He has represented clients in connection with the acquisition of overriding royalties and net profits interests, and other royalty interests.
Mr. Sweeney has been recognized by Chambers USA 2010 as an Associate to Watch in Energy: Oil & Gas (Transactional).
Representative Matters
Mergers, Acquisitions and Joint Ventures
Apache Corporation in the $7 billion acquisition of BP's oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico and in Egypt's Western Desert, as well as BP's upstream natural gas business in western Alberta and British Columbia.
Eni Petroleum in the negotiation of a purchase and sale agreement, diligence, and post-closing matters for the purchase of Gulf of Mexico exploration and production assets (including large offshore platforms and production handling facilities and interests in several offshore production hubs and pipelines) for $4.757 billion in cash.
A consortium of independent oil and gas companies in the sale of onshore exploration and production assets and related midstream assets for approximately $620 million in cash.
An international exploration and production company in the acquisition of substantially all of the shares of a public company with assets in Morocco, Tunisia, the North Sea, and Poland.
Eni Petroleum in the acquisition of Barnett Shale exploration and production properties for $280 million, including the negotiation of an asset purchase agreement, joint development agreement, joint operating agreement, area of mutual interest agreement and related agreements.
Eni Petroleum in connection with the Sale of Gulf of Mexico producing assets to GDF SUEZ for approximately $230 million, including the negotiation of several deepwater and shelf joint operating agreements and related documents.
Venoco, Inc. in connection with its 5-package bid divestiture of substantially all of its exploration and production assets located in the State of Texas for approximately $105 million.
A major public utility in connection with the acquisition of a lignite surface mine and related facilities, including surface use arrangements with respect to reserved Haynesville Shale rights.
A publicly traded gas distribution company in connection with the acquisition of a salt dome in East Texas to be used as a gas storage facility.
A Fortune 500 company in connection with the negotiation of oil and gas leases, acquisitions and divestitures, joint development agreements, joint operating agreements, and related agreements in the Marcellus Shale and D-J Basin.
Energy Finance
Union Bank in connection with a $1 billion revolving senior credit facility secured by exploration and production assets in the Gulf of Mexico and the Permian Basin.
Société Générale in a multi-tranche $350 million loan to an upstream master limited partnership with assets in 15 states.
Various mezzanine lenders in connection with the financing of oil and gas exploration and production activities and coal mining ventures, including the acquisition of overriding royalty interests and net profits interests in oil and gas and coal, including the provision of acquisition financing for coal ventures with properties throughout Appalachia and Alabama and oil and gas ventures with assets throughout the United States and the Gulf of Mexico.
Lenders, borrowers, and bidders in connection with oil and gas and coal issues related to bankruptcies, workouts, and financial distress credits, including the acquisition of assets out of bankruptcy, DIP loans and alternative financing arrangements, and the preparation and analysis of "stalking-horse" bids.
Operational, Infrastructure and Midstream Matters
An integrated oil and gas company in connection with the acquisition of a Gulf of Mexico production platform for use as a production hub, including the analysis of facilities use and production handling arrangements.
A large, publicly traded independent oil and gas company in connection with the analysis of its joint operating agreements, unit and unit operating agreements, and gas marketing and supply arrangements in Trinidad and Tobago.
Various major and independent oil and gas companies in the negotiation and analysis of joint operating agreements, balancing arrangements, and producing handling agreements.
Education
J.D., with honors, The University of Texas School of Law, 2005
B.A., cum laude, Yale University, 2002
Bar Admissions
Texas
Affiliations
Member - Association of International Petroleum Negotiators; Joint Operating Agreement Revision Committee; Accounting Procedure Revision Committee; Young Negotiators Group
Institute for Energy Law, Co-Chair, Young Energy Professionals Committee; Advisory Board Member
State Bar of Texas Oil, Gas, and Energy Resources Law Section
Noteworthy
Chambers USA: America's Leading Lawyers for Business, Energy: Oil & Gas (Transactional), 2010
Mr. Sweeney has experience as a landman
Languages
Conversational Spanish