Course Schedule

This interdisciplinary course will introduce students to the legal, business, and technical facets of energy development and entrepreneurship. The course is structured around five potential development sites—two wind development projects (a coastal and a north Texas site), a west Texas solar project, and two natural gas combined-cycle plants (a new combined heat and power plant in Houston and a conventional plant in San Antonio). The key stages of project development will be covered, including site selection, life cycle analysis, due diligence, permitting, contracting, and financing. The case studies are designed (1) to provide real-world conditions for understanding project development, (2) to allow students to engage in practical problem solving, and (3) to enable government policies to be evaluated in context. Course work will be complemented by regular discussions with leading experts in the utility and renewable-energy sectors. Students will work in interdisciplinary teams of graduate students from law, business, and engineering to develop a project proposal based on a mix of renewables and natural gas generation. In addition to short exercises during the semester (e.g., negotiations, financial modeling, technical analysis), each student team will prepare a project prospectus and presentation on the technical, business, and legal aspects of their project proposal. The course will culminate with each team presenting their proposal to a corporate investment panel, which will be made up of local energy experts. Course evaluation will be based on class participation, a preliminary project memo, and the final team presentation and project prospectus.

This interdisciplinary course will introduce students to the legal, business, and technical facets of energy development and entrepreneurship. The course is structured around five potential development sites—two wind development projects (a coastal and a north Texas site), a west Texas solar project, and two natural gas combined-cycle plants (a new combined heat and power plant in Houston and a conventional plant in San Antonio). The key stages of project development will be covered, including site selection, life cycle analysis, due diligence, permitting, contracting, and financing. The case studies are designed (1) to provide real-world conditions for understanding project development, (2) to allow students to engage in practical problem solving, and (3) to enable government policies to be evaluated in context. Course work will be complemented by regular discussions with leading experts in the utility and renewable-energy sectors. Students will work in interdisciplinary teams of graduate students from law, business, and engineering to develop a project proposal based on a mix of renewables and natural gas generation. In addition to short exercises during the semester (e.g., negotiations, financial modeling, technical analysis), each student team will prepare a project prospectus and presentation on the technical, business, and legal aspects of their assigned technologies / locations. The course will culminate with each team presenting their proposal to a corporate investment panel and the class and the creation of a project portfolio based on all of the teams' input and analyses. Course evaluation will be based on class participation, a preliminary project memo, and the final team presentation.

Title:  Energy Finance and Transactions

Catalogue Description:  Highly relevant for any lawyer in energy or finance practice, this course will immerse students in practical business and legal concepts inherent in oil and gas financing by teaching a working knowledge based on actual loan documents relevant to financial and M&A transactions. Through discussion of actual loan provisions, the class will demonstrate how the client’s business concepts are manifested in the financing documents drafted by lawyers.  In addition, the course will provide a historical context of the dependent relationship between producers and bankers illustrating the evolution of loan documentation from the early beginnings of the US oil industry through current times.

This course will provide students a head-start on their transactional legal training by providing students with useful knowledge on energy transactions and financing documentation. Students will learn the basic architecture of financing documents, and, importantly, learn the legal and business issues and historical foundation behind the provisions. The professors, who collectively have over 60 years of energy lending experience, will also provide their insight on energy lending negotiation strategy. In addition to class participation and the final exam, students will complete a short client memorandum on a topic of their choice related to the energy finance transactions.

Grading: Students will be graded on class participation (20%), client memorandum (30%) and final exam (50%).

The final exam will be a timed, short answer open-book format exam.

Prerequisites: 1L contracts and property. The professors are accustomed to training associates with no exposure to oil and gas or finance.

Credit Hours:  Two hours.

Proposed Schedule:  12 weeks, consisting of 12 two-hour classes. 

Learning Outcomes:  Students will gain an understanding of basic principles of energy lending and energy transactions, and how those principals are embodied in loan documentation.  In addition to the practical substantive knowledge, students will gain insight into a career path.  This course is tailored for students interested in pursuing a career in sophisticated energy transactions of all types.  Students who have already chosen this career path will be better prepared, having completed part of the training of a first-year associate.

Hands on practical business and legal concepts in financing oil and gas development and application of current market issues through negotiation and loan documentation. The course will provide historical context for the commercial and legal development of present day commercial bank lending to oil and gas producers illustrating the evolution of loan documentation between producers, private equity, and energy lenders. The tools and concepts taught in class lectures will be implemented by students in practice through negotiation and drafting of select loan provisions utilizing current real world example of a syndicated energy credit agreement and term sheet. Reading for the course has been selected to provide both the historical perspective and a technical analysis of common loan provisions. For the negotiation component, students will be divided into banker and producer teams serving to negotiate key provisions in a Term Sheet and Credit Agreement for an oil and gas loan through email and conference call interactions with their clients. The ‘clients’ will be Haynes and Boone, LLP energy finance lawyers who will be acting as bankers or producers, respectively. With client input, teams will negotiate and agree on the final Term Sheet and Credit Agreement. Some negotiations will be in class and the professors will lead a class discussion on the teams' work product. By the end of the course students will have negotiated high points in the term sheet and incorporated their negotiated changes into revisions to the model form credit agreement. The final work product will be the negotiated provisions of the Credit Agreement redlined against the form. In our final class, each group will discuss the final “deal” that was struck and three principal points of contention and how they drafted compromises in the documents. 

Students will be graded on class participation, drafting and negotiation exercises, a final work product, and a final exam (short answer).

This course will immerse students in practical business and legal concepts in financing oil and gas and alternative energy development and demonstrate how those issues manifest themselves in the negotiation and loan documentation. In addition, the course will provide an historical context for the development of present day commercial bank lending to oil and gas companies illustrating how loan documentation between producers and energy lenders has evolved since the early 1900’s. The tools and concepts taught in class lectures will be implemented by students in practice through negotiation and drafting of an energy loan utilizing current real world example of a syndicated energy credit agreement and term sheet. The first half of the course will lay the groundwork for how and why today’s energy loans are structured drawing upon the historical analysis in Oil Capital, The History of American Oil, Wildcatters, Independents and Their Bankers written by one of the professors, Buddy Clark. Alongside this historical perspective, the course will cover the principal provisions of an energy loan based upon assigned readings from The LSTA's Complete Credit Agreement Guide, Second Edition. In the second half of the course, students will be divided into banker and producer teams serving to negotiate key provisions in a Term Sheet and Credit Agreement for an oil and gas loan through email and conference call interactions with their clients. The ‘clients’ will be Haynes and Boone, LLP energy finance lawyers who will be acting as bankers or producers, respectively. With input from their client, groups will negotiate and agree on the final Term Sheet and Credit Agreement. The final work product will be a Credit Agreement redlined against the form. At the end of the course, in class, each group will discuss the final “deal” that was struck and three principal points of contention and how they drafted compromises in the documents.In addition, the second half of the course will cover renewable energy project development and transactional issues based on assigned readings from Energy & Environmental Project Finance: Law & Taxation available on Lexis and selected articles addressing major renewables transactional documentation.

Students will be graded on class participation, drafting and negotiation exercises, a final work product, and a final exam (short answer).

This course examines in detail the regulatory regimes governing the sale and delivery of energy in American energy markets. Students will develop a working understanding of electricity and gas markets, how federal and state regulatory commissions regulate price and competition in those markets under the Federal Power Act, the Natural Gas Act, and analogous state laws. We will also address topical issues associated with the rapid technological and economic changes underway in the electricity and gas markets, including the effects of the rapid growth in renewable generation, disputes over the pricing and regulation of distributed energy resources (such as rooftop solar or demand response), the move toward increasing competition and market pricing, legal rules governing the siting of natural gas and electric transmission lines, and more. This class will be based in the Law School, but also open to students from the McCombs School, the Jackson School, and the LBJ School, and will mix traditional lecture and discussion with small group work in multidisciplinary teams. This is a companion course to (but not a prerequisite for) Energy Law: Regulating Energy Production.

This course examines in detail the regulatory regimes governing the sale and delivery of energy in American energy markets. Students will develop a working understanding of electricity and gas markets, how federal and state regulatory commissions regulate price and competition in those markets under the Federal Power Act, the Natural Gas Act, and analogous state laws. We will also address topical issues associated with the rapid technological and economic changes underway in the electricity and gas markets, including the effects of the rapid growth in renewable generation, disputes over the pricing and regulation of distributed energy resources (such as rooftop solar or demand response), the move toward increasing competition and market pricing, legal rules governing the siting of natural gas and electric transmission lines, and more. This class will be based in the Law School, but also open to students from the McCombs School, the Jackson School, and the LBJ School, and will mix traditional lecture and discussion with small group work in multidisciplinary teams. This is a companion course to (but not a prerequisite for) Energy Law: Regulating Energy Production.

This course examines in detail the regulatory regimes governing the sale and delivery of energy in American energy markets. Students will develop a working understanding of electricity and gas markets, how federal and state regulatory commissions regulate price and competition in those markets under the Federal Power Act, the Natural Gas Act, and analogous state laws. We will also address topical issues associated with the rapid technological and economic changes underway in the electricity and gas markets, including the effects of the rapid growth in renewable generation, disputes over the pricing and regulation of distributed energy resources (such as rooftop solar or demand response), the move toward increasing competition and market pricing, legal rules governing the siting of natural gas and electric transmission lines, and more. This class will be based in the Law School, but also open to students from the McCombs School, the Jackson School, and the LBJ School, and will mix traditional lecture and discussion with small group work in multidisciplinary teams. This is a companion course to (but not a prerequisite for) Energy Law: Regulating Energy Production.

This course examines in detail the regulatory regimes governing the sale and delivery of energy in American energy markets. Students will develop a working understanding of electricity and gas markets, how federal and state regulatory commissions regulate price and competition in those markets under the Federal Power Act, the Natural Gas Act, and analogous state laws. We will also address topical issues associated with the rapid technological and economic changes underway in the electricity and gas markets, including the effects of the rapid growth in renewable generation, disputes over the pricing and regulation of distributed energy resources (such as rooftop solar or demand response), the move toward increasing competition and market pricing, legal rules governing the siting of natural gas and electric transmission lines, and more. This class will be based in the Law School, but also open to students from the McCombs School, the Jackson School, and the LBJ School, and will mix traditional lecture and discussion with small group work in multidisciplinary teams. This is a companion course to (but not a prerequisite for) Energy Law: Regulating Energy Production.

This course examines in detail the regulatory regimes governing the sale and delivery of energy in American energy markets. Students will develop a working understanding of electricity and gas markets, how federal and state regulatory commissions regulate price and competition in those markets under the Federal Power Act, the Natural Gas Act, and analogous state laws. We will also address topical issues associated with the rapid technological and economic changes underway in the electricity and gas markets, including the effects of the rapid growth in renewable generation, disputes over the pricing and regulation of distributed energy resources (such as rooftop solar or demand response), the move toward increasing competition and market pricing, legal rules governing the siting of natural gas and electric transmission lines, and more. This class will be based in the Law School, but also open to students from the McCombs School, the Jackson School, and the LBJ School, and will mix traditional lecture and discussion with small group work in multidisciplinary teams. This is a companion course to (but not a prerequisite for) Energy Law: Regulating Energy Production.

The Energy Ventures Practicum is an opportunity for teams of law students, business students, policy students, and technologists to build up skills, capabilities and contacts to create a new venture in the energy sector. Objectives of the class are to provide a framework for commercializing innovations in the energy sector, and the tools that entrepreneurs need to frame and build businesses for this purpose.

Students must submit a complete application, attend an information session and be selected to participate in the Energy Ventures Practicum. Full course requirements and qualifications will be reviewed with students during information sessions offered before the registration period for each semester.

This is a full semester course that can only be taken for a grade. The course requires meeting during the scheduled class time and work to be conducted in between classes. For more information and details on this course, visit the website (https://www.mccombs.utexas.edu/centers-initiatives/brumley-institute/energy-ventures-practicum/).

The TVL Energy Ventures Practicum is an opportunity for teams of law students, business students, policy students, and technologists to build up skills, capabilities and contacts to create a new venture in the energy sector. Objectives of the class are to provide a framework for commercializing innovations in the energy sector, and the tools that entrepreneurs need to frame and build businesses for this purpose.

The TVL Energy Ventures Practicum is an opportunity for teams of law students, business students, policy students, and technologists to build up skills, capabilities and contacts to create a new venture in the energy sector. Objectives of the class are to provide a framework for commercializing innovations in the energy sector, and the tools that entrepreneurs need to frame and build businesses for this purpose.

The TVL Energy Ventures Practicum is an opportunity for teams of law students, business students, policy students, and technologists to build up skills, capabilities and contacts to create a new venture in the energy sector. Objectives of the class are to provide a framework for commercializing innovations in the energy sector, and the tools that entrepreneurs need to frame and build businesses for this purpose.

Entertainment Law: Content Licensing is a course that explores the legal and business frameworks governing the licensing of creative works across film, television, music, publishing, gaming, and emerging digital platforms. Students will examine core contract structures, standard provisions, negotiation strategies, and risk allocation in licensing transactions, with attention to both traditional and cutting-edge issues such as evolving standards of fair use, streaming, and "open-source" licensing and content licensing in the age of AI. Through case studies, drafting exercises, and class discussion, the course emphasizes practical skills and critical thinking necessary for advising clients in an evolving entertainment marketplace.

The ETA & Search Fund Practicum is designed for graduate students interested in pursuing a path of Entrepreneurship Through Acquisition (ETA). The course will utilize a combination of lectures, in-class exercises, guest speakers, case studies, and interactive evaluation of real acquisition opportunities. Students will gain experience formulating an investment thesis, engaging in deal sourcing, conducting due diligence, and building requisite financial models. The intended goal of the course is to provide students with both the knowledge and practical experience needed to embark on a successful acquisition search following completion of the class. The course culminates in a Capstone Project, where students will pitch a real acquisition opportunity to experienced investors and get valuable feedback. 

Students must submit a complete application, attend an information session and be selected to participate in the ETA & Search Fund Practicum. Full course requirements and qualifications will be reviewed with students during information sessions offered before the registration period for each semester.

This is a full semester course that can only be taken for a grade. The course requires meeting during the scheduled class time and work to be conducted in between classes. For more information and details on this course, visit the website (https://www.mccombs.utexas.edu/centers-initiatives/brumley-institute/eta-search-fund-practicum/).

We will be offering two virtual AMA/info sessions for students who want to learn more about the course.  Times and links are below:

Monday, Oct 27th at noon: https://utexas.zoom.us/j/85450274841

Thursday, Oct 30th at noon: https://utexas.zoom.us/j/82292019602

Texas Venture Lab’s new practicum is designed for graduate students interested in pursuing a path of Entrepreneurship Through Acquisition (ETA). The course will utilize a combination of lectures, in-class exercises, guest speakers, case studies, and interactive evaluation of real acquisition opportunities. Students will gain experience formulating an investment thesis, engaging in deal sourcing, conducting due diligence, and building requisite financial models. The intended goal of the course is to provide students with both the knowledge and practical experience needed to embark on a successful acquisition search following completion of the class. The course culminates in a Capstone Project, where students will pitch a real acquisition opportunity to experienced investors and get valuable feedback. Class Time: Tuesdays, 3:30–6:30 PM Location: Robert Rowling Hall 2.238 Instructors: Jacob Hall, MBA - Mellie Price, MSTC

HERE is the link to the course application.

This three credit survey course focuses on the legal issues that pervade the conservation and regulation of public lands, wildlife, fisheries, and wetlands. These issues include, among others, competing claims of the "public interest" versus private property rights; the roles of administrative agencies and the judiciary in environmental decision making; tensions presented by the multiple use/sustainable yield standard in federal law; conflicts among and between local, state, and federal approaches to natural resource regulation; and the opposing goals of resource management espoused by fishermen, farmers, developers, environmentalists, and recreational users. These issues will be developed in the context of the regulatory schemes embodied in the National Environmental Policy Act, the Endangered Species Act, and the Clean Water Act and the various statutes that govern federal public lands, such as the Wilderness Act and Federal Land Policy Management Act. The focus of the course is primarily U.S. law; however, it will touch on international law relevant to natural resources and, where appropriate, compare U.S. law to the laws of other countries.

This three credit survey course focuses on the legal issues that pervade the conservation and regulation of public lands, wildlife, fisheries, and wetlands. These issues include, among others, competing claims of the "public interest" versus private property rights; the roles of administrative agencies and the judiciary in environmental decision making; tensions presented by the multiple use/sustainable yield standard in federal law; conflicts among and between local, state, and federal approaches to natural resource regulation; and the opposing goals of resource management espoused by fishermen, farmers, developers, environmentalists, and recreational users. These issues will be developed in the context of the regulatory schemes embodied in the National Environmental Policy Act, the Endangered Species Act, and the Clean Water Act and the various statutes that govern federal public lands, such as the Wilderness Act and Federal Land Policy Management Act. The focus of the course is primarily U.S. law; however, it will touch on international law relevant to natural resources and, where appropriate, compare U.S. law to the laws of other countries.

This three credit survey course focuses on the legal issues that pervade the conservation and regulation of public lands, wildlife, fisheries, and wetlands. These issues include, among others, competing claims of the "public interest" versus private property rights; the roles of administrative agencies and the judiciary in environmental decision making; tensions presented by the multiple use/sustainable yield standard in federal law; conflicts among and between local, state, and federal approaches to natural resource regulation; and the opposing goals of resource management espoused by fishermen, farmers, developers, environmentalists, and recreational users. These issues will be developed in the context of the regulatory schemes embodied in the National Environmental Policy Act, the Endangered Species Act, and the Clean Water Act and the various statutes that govern federal public lands, such as the Wilderness Act and Federal Land Policy Management Act. The focus of the course is primarily U.S. law; however, it will touch on international law relevant to natural resources and, where appropriate, compare U.S. law to the laws of other countries.

This three credit survey course focuses on the legal issues that pervade the conservation and regulation of public lands, wildlife, fisheries, and wetlands. These issues include, among others, competing claims of the "public interest" versus private property rights; the roles of administrative agencies and the judiciary in environmental decision making; tensions presented by the multiple use/sustainable yield standard in federal law; conflicts among and between local, state, and federal approaches to natural resource regulation; and the opposing goals of resource management espoused by fishermen, farmers, developers, environmentalists, and recreational users. These issues will be developed in the context of the regulatory schemes embodied in the National Environmental Policy Act, the Endangered Species Act, and the Clean Water Act and the various statutes that govern federal public lands, such as the Wilderness Act and Federal Land Policy Management Act. The focus of the course is primarily U.S. law; however, it will touch on international law relevant to natural resources and, where appropriate, compare U.S. law to the laws of other countries.

This course will begin with an introduction to pollution control, the common law antecedents, and early statutory developments. The remainder of the course will be devoted to an intensive study of the Clean Air Act and the Clean Water Act. The student will become familiar with the substantive provisions of those statutes and will gain a knowledge of how the statutes are implemented by the United States Environmental Protection Agency and the relevant state agencies. In addition, the course will expose the student to scientific and engineering concepts relevant to regulating the "conventional" air and water pollutants.  Finally, the course will examine ongoing regulatory attempts to address climate change under the Clean Air Act and the prospect for climate change legislation.

This course will begin with an introduction to pollution control, the common law antecedents, and early statutory developments. The remainder of the course will be devoted to an intensive study of the Clean Air Act and the Clean Water Act. The student will become familiar with the substantive provisions of those statutes and will gain a knowledge of how the statutes are implemented by the United States Environmental Protection Agency and the relevant state agencies. In addition, the course will expose the student to scientific and engineering concepts relevant to regulating the "conventional" air and water pollutants.  Finally, the course will examine ongoing regulatory attempts to address climate change under the Clean Air Act and the prospect for climate change legislation.