Many companies build reserves through the process of acquisitions of existing reserves or producing properties. Likewise, companies may determine that the continued ownership of properties in an area no longer comports with the company’s business plans. A portion of Ted’s practice consists of drafting, reviewing, negotiating, and advising clients regarding the acquisition and sale of oil and gas properties and energy companies, through production purchases, royalty purchases, or other asset-based acquisitions, as well as through merger arrangements (including recapitalizations, leveraged buyouts, and exchanges of stock or partnership units), and the purchase of properties through bankruptcy and other insolvency proceedings. Acquiring large blocks of producing and non-producing properties requires the coordination of many professionals, including management, financial, engineering, accounting, land, legal and risk management professionals, and the coordination of their activities. Ted has been involved in several hundred acquisitions and can advise regarding the legal aspects of the reviews of properties, both on the purchaser and seller side. He can also advise clients regarding the coordination of the aspects of the acquisition or divestiture of properties, and as needed, can supervise other professionals in due diligence reviews and associated activities.