Course Schedule

My goal for each student taking this class is to teach you as much about the new venture creation process as possible. Regardless of the line of work you pursue after earning your master’s degree, your ability to approach a business problem using an entrepreneurial skill set will always be valuable and differentiate you from your peers. What frequently is the deciding factor for financing a venture, whether inside a large company or in the private equity markets, is the entrepreneur’s ability to articulate what the business is about, why it will succeed and ultimately how it will produce enough of a profit to give investors a return on their investment. Your ability to do this has very little to do with the actual writing of the business plan. The best business plans and presentations are the documentation of well thought-out and thorough market validation, business model development and financial projections passionately communicated and firmly grounded in facts. By performing these functions effectively, the writing and presenting of the business plan becomes a straight-forward, objective process. This class is designed to give you the hands-on experience of developing all of these skills while producing a viable plan for a new venture. I strongly encourage you to think of this as an opportunity to develop a business plan for a venture you will likely pursue at some point in your career. The format of this class will cover each of the major components you need to develop a viable business and review real business plans and presentations from previous Venture Labs Investment Competitions (formerly Moot Corp®) using case based analysis. This will give you the theory and the practical application of the theory in a real world environment. This course can only be taken for a grade.

My goal for each student taking this class is to teach you as much about the new venture creation process as possible. Regardless of the line of work you pursue after earning your master’s degree, your ability to approach a business problem using an entrepreneurial skill set will always be valuable and differentiate you from your peers. What frequently is the deciding factor for financing a venture, whether inside a large company or in the private equity markets, is the entrepreneur’s ability to articulate what the business is about, why it will succeed and ultimately how it will produce enough of a profit to give investors a return on their investment. Your ability to do this has very little to do with the actual writing of the business plan. The best business plans and presentations are the documentation of well thought-out and thorough market validation, business model development and financial projections passionately communicated and firmly grounded in facts. By performing these functions effectively, the writing and presenting of the business plan becomes a straight-forward, objective process. This class is designed to give you the hands-on experience of developing all of these skills while producing a viable plan for a new venture. I strongly encourage you to think of this as an opportunity to develop a business plan for a venture you will likely pursue at some point in your career. The format of this class will cover each of the major components you need to develop a viable business and review real business plans and presentations from previous Venture Labs Investment Competitions (formerly Moot Corp®) using case based analysis. This will give you the theory and the practical application of the theory in a real world environment. This course can only be taken for a grade.

My goal for each student taking this class is to teach you as much about the new venture creation process as possible. Regardless of the line of work you pursue after earning your master’s degree, your ability to approach a business problem using an entrepreneurial skill set will always be valuable and differentiate you from your peers. What frequently is the deciding factor for financing a venture, whether inside a large company or in the private equity markets, is the entrepreneur’s ability to articulate what the business is about, why it will succeed and ultimately how it will produce enough of a profit to give investors a return on their investment. Your ability to do this has very little to do with the actual writing of the business plan. The best business plans and presentations are the documentation of well thought-out and thorough market validation, business model development and financial projections passionately communicated and firmly grounded in facts. By performing these functions effectively, the writing and presenting of the business plan becomes a straight-forward, objective process. This class is designed to give you the hands-on experience of developing all of these skills while producing a viable plan for a new venture. I strongly encourage you to think of this as an opportunity to develop a business plan for a venture you will likely pursue at some point in your career. The format of this class will cover each of the major components you need to develop a viable business and review real business plans and presentations from previous Venture Labs Investment Competitions (formerly Moot Corp®) using case based analysis. This will give you the theory and the practical application of the theory in a real world environment. This course can only be taken for a grade.

This class provides an overview of U.S. oil and gas law. Students will gain an understanding of basic oil and gas law principles, derived from a combination of property, contract, administrative, tort, and constitutional law. The course provides an opportunity to take a law course that cuts across several core law-school subjects and from the perspective of a particular business—oil and gas, a business that deals with the most widely traded and strategically important commodity and that has important customs and practices that influence both contract and law. The law of all producing states will be considered with some emphasis on Oklahoma and Texas, the two states with large bodies of oil and gas case law and that most often provide divergent views on various oil and gas issues.

This class provides an overview of U.S. oil and gas law. Students will gain an understanding of basic oil and gas law principles, derived from a combination of property, contract, administrative, tort, and constitutional law. The course provides an opportunity to take a law course that cuts across several core law-school subjects and from the perspective of a particular business—oil and gas, a business that deals with the most widely traded and strategically important commodity and that has important customs and practices that influence both contract and law. The law of all producing states will be considered with some emphasis on Oklahoma and Texas, the two states with large bodies of oil and gas case law and that most often provide divergent views on various oil and gas issues.

The course is primarily focused on domestic onshore oil and gas case law, viewed in part with a litigation focus, and including a study of common property interests created in oil and gas, with limited consideration of developing law on renewable energy and climate. The course includes an examination of fundamental state oil and gas law concepts including issues raised by modern horizontal drilling and fracturing; introduction to, and analysis of, the oil and gas lease with attention to its common structural components and the law that has developed around them; introduction to titles and conveyances in oil and gas; introduction to state regulation of oil and gas; discussion of selected oil and gas agreements that arise subsequent to the oil and gas lease; discussion of developing of state owned lands; and brief consideration of renewable energy, climate change litigation and federal environmental regulation. 

Evaluation of student performance will consist of a final examination (including essay questions or a combination of essay and short-answer questions) plus attendance and class participation credit.

Oil and Gas Law provides an overview of oil and gas law throughout the United States, with emphasis on Texas. Students will gain an understanding of basic oil and gas law principles, derived from a combination of property, contract, administrative, tort, and constitutional law. The course provides a unique opportunity to take a law course that cuts across several core law-school subjects and from the perspective of a particular business—the upstream oil and gas industry and affected landowners. Oil and gas is the world's most widely traded and strategically important commodity, from which important customs and practices have evolved to influence both contract provisions and law as well as governent regulation and policy.

The materials for the course are Lowe, Anderson, Kulander, Ehrman, and Griggs, Oil and Gas Law: Cases & Materials (8th ed. 2022), various forms used in oil and gas transactions and regulatory orders, and other supplemental materials. The course syllabus and supplemental materials will be available on Canvas; however, any supplemental cases can be found on Westlaw or Lexis.

Unless otherwise announced in the syllabus, a final examination will cover all subject areas discussed and assigned over the course of the semester, including assigned reading and supplemental classroom information. The format and the nature of the exam will be announced later but you should anticipate part multiple-choice questions and part essay. Your grade will be based on the final exam. However, credit may be given for high quality class participation to increase the final grade by one grade increment, e.g., from a final exam grade of B+ to a final course grade of A-. Conversely, if someone is consistently unprepared or absent, his or her final rade may be reduced by one grade increment, e.g., from a final exam grade of B to a final course grade B-.

The course is primarily focused on domestic onshore oil and gas law, including common property interests created in oil and gas, with limited consideration of developing law on renewable energy and climate. The course includes an examination of fundamental state oil and gas law concepts including issues raised by modern horizontal drilling and fracturing; introduction to, and analysis of, the oil and gas lease with attention to its common structural components and the law that has developed around them; introduction to titles and conveyances in oil and gas; introduction to state regulation of oil and gas; discussion of selected oil and gas agreements that arise subsequent to the oil and gas lease; discussion of developing of state owned lands; and brief consideration of renewable energy, climate change litigation and federal environmental regulation. 

Evaluation of student performance will consist of a final examination (including essay questions or a combination of essay and short-answer questions) plus attendance and class participation credit.

Oil and Gas Law provides an overview of oil and gas law throughout the United States, with emphasis on Texas. Students will gain an understanding of basic oil and gas law principles, derived from a combination of property, contract, administrative, tort, and constitutional law. The course provides a unique opportunity to take a law course that cuts across several core law-school subjects and from the perspective of a particular business—the upstream oil and gas industry and affected landowners. Oil and gas is the world's most widely traded and strategically important commodity, from which important customs and practices have evolved to influence both contract provisions and law as well as governent regulation and policy.

The materials for the course are Lowe, Anderson, Kulander, Ehrman, and Griggs, Oil and Gas Law: Cases & Materials (8th ed. 2022), various forms used in oil and gas transactions and regulatory orders, and other supplemental materials. The course syllabus and supplemental materials will be available on Canvas; however, any supplemental cases can be found on Westlaw or Lexis.

Unless otherwise announced in the syllabus, a final examination will cover all subject areas discussed and assigned over the course of the semester, including assigned reading and supplemental classroom information. The format and the nature of the exam will be announced later but you should anticipate part multiple-choice questions and part essay. Your grade will be based on the final exam. However, credit may be given for high quality class participation to increase the final grade by one grade increment, e.g., from a final exam grade of B+ to a final course grade of A-. Conversely, if someone is consistently unprepared or absent, his or her final rade may be reduced by one grade increment, e.g., from a final exam grade of B to a final course grade B-.

The course is focused on domestic onshore oil and gas law, including private property interests created in oil and gas. The course includes an examination of fundamental state oil and gas law concepts including issues raised by modern horizontal drilling and fracturing; introduction to, and analysis of, the oil and gas lease with attention to its structural components and the law interpreting them; introduction to titles and conveyances in oil and gas; introduction to state regulation of oil and gas; discussion of selected oil and gas agreements that arise subsequent to the oil and gas lease; discussion of development of of state owned lands; and, brief consideration of federal environmental regulation. 

Evaluation of student performance will consist of a closed-book final examination (including essay questions or a combination of essay and short-answer questions) plus attendance and class participation credit. 

The course is focused on domestic onshore oil and gas law, including common property interests created in oil and gas and in the land from which they are produced. The course includes an examination of fundamental state oil and gas law concepts including issues raised by modern horizontal drilling and fracturing; introduction to, and analysis of, the oil and gas lease with attention to its common structural components and the law that has developed around them; introduction to titles and conveyances in oil and gas; introduction to state regulation of oil and gas; discussion of selected oil and gas agreements that arise subsequent to the oil and gas lease; discussion of developing of state owned lands; and, brief consideration of federal environmental regulation. 

Evaluation of student performance, depending on class size, either will consist of a final examination (including essay questions or a combination of essay and short-answer questions) plus attendance and class participation credit; or, it will consist of several assigned papers plus attendance and class participation credit. 

The course is focused on domestic onshore oil and gas law, including common property interests created in oil and gas and in the land from which they are produced. The course includes an examination of fundamental state oil and gas law concepts including issues raised by modern horizontal drilling and fracturing; introduction to, and analysis of, the oil and gas lease with attention to its common structural components and the law that has developed around them; introduction to titles and conveyances in oil and gas; introduction to state regulation of oil and gas; discussion of selected oil and gas agreements that arise subsequent to the oil and gas lease; discussion of developing of state owned lands; and, brief consideration of federal environmental regulation. 

Evaluation of student performance, depending on class size, either will consist of a final examination (including essay questions or a combination of essay and short-answer questions) plus attendance and class participation credit; or, it will consist of several assigned papers plus attendance and class participation credit. 

This class covers practical aspects of the U.S. oil and gas legal regime, focusing on the relationship between energy companies and between energy companies and regulatory authorities. Topics of discussion include contracts and transfers by oil and gas lessees such as assignments, farmouts, operating agreements, purchase and sale agreements, and master service agreements. Oil and gas development on federal, state, and American Indian lands will be considered, as well as environmental regulation of the petroleum industry. Bankruptcy, energy finance, and land use control will also be covered, as well as purchase of domestic oil and gas assets by foreigners. The law of all producing states will be considered with some emphasis on Oklahoma and Texas, the two states with largest bodies of oil and gas case law and which most often provide divergent views on various oil and gas issues. May be taken concurrently with Oil and Gas (LAW 390).

Oil & Gas Taxation covers the United States federal income taxation of domestic oil and gas operations and transactions. The course examines taxation associated with the operational life cycle of oil and gas operations including exploration, development, production and abandonment. The study of transactions involving oil and gas interests analyzes acquisition, disposition, structuring and investment. Course participants learn the historical context and development of oil and gas provisions found in U.S. tax law. Current tax legislative proposals or enactments that affect the oil and gas industry are addressed if warranted. Although emphasis is on federal income taxation of domestic oil and gas transactions, the international tax aspects of the oil and gas business also are surveyed. It is helpful if students have taken Federal Income Tax or Oil and Gas Law, but I will teach the class so that students will not need to have taken these classes as prerequisites to this course. This class is open to Accounting and Petroleum engineering students.

Oil & Gas Taxation covers the United States federal income taxation of domestic oil and gas operations and transactions. The course examines taxation associated with the operational life cycle of oil and gas operations including exploration, development, production and abandonment. The study of transactions involving oil and gas interests analyzes acquisition, disposition, structuring and investment. Course participants learn the historical context and development of oil and gas provisions found in U.S. tax law. Current tax legislative proposals or enactments that affect the oil and gas industry are addressed if warranted. Although emphasis is on federal income taxation of domestic oil and gas transactions, the international tax aspects of the oil and gas business also are surveyed. It is helpful if students have taken Federal Income Tax or Oil and Gas Law as prerequisites to this course.

Oil & Gas Taxation covers the United States federal income taxation of domestic oil and gas operations and transactions. The course examines taxation associated with the operational life cycle of oil and gas operations including exploration, development, production and abandonment. The study of transactions involving oil and gas interests analyzes acquisition, disposition, structuring and investment. Course participants learn the historical context and development of oil and gas provisions found in U.S. tax law. Current tax legislative proposals or enactments that affect the oil and gas industry are addressed if warranted. Although emphasis is on federal income taxation of domestic oil and gas transactions, the international tax aspects of the oil and gas business also are surveyed. It is helpful if students have taken Federal Income Tax or Oil and Gas Law as prerequisites to this course.

Prerequisite: Law 254J, 354J, 454J, 554J, (Federal Income Taxation) 254N, or 354N (Federal Income Taxation A). The course covers the taxation of partnerships, limited liability companies and S corporations, the most common forms of business organizations that involve a single level of tax. Most business entities with non-publicly traded interests take one of these forms; almost all such entities should take one of these forms. The rules on partnership tax also are increasingly relevant to a corporate and international practice as partnerships are used for corporate and international joint ventures and as vehicles for mergers and acquisitions. The course is essential for anyone who intends to practice in tax. It is useful for anyone who intends to practice in an area involving significant business planning.

Prerequisite: Law 254J, 354J, 454J, 554J, (Federal Income Taxation) 254N, or 354N (Federal Income Taxation A).

The course covers the taxation of partnerships, limited liability companies and S corporations, the most common forms of business organizations that involve a single level of tax. Most business entities with non-publicly traded interests take one of these forms; almost all such entities should take one of these forms. The rules on partnership tax also are increasingly relevant to a corporate and international practice as partnerships are used for corporate and international joint ventures and as vehicles for mergers and acquisitions. The course is essential for anyone who intends to practice in tax. It is useful for anyone who intends to practice in an area involving significant business planning.

Prerequisite: Law 254J, 354J, 454J, 554J, (Federal Income Taxation) 254N, or 354N (Federal Income Taxation A).

The course covers the taxation of partnerships, limited liability companies and S corporations, the most common forms of business organizations that involve a single level of tax. Most business entities with non-publicly traded interests take one of these forms; almost all such entities should take one of these forms. The rules on partnership tax also are increasingly relevant to a corporate and international practice as partnerships are used for corporate and international joint ventures and as vehicles for mergers and acquisitions. The course is essential for anyone who intends to practice in tax. It is useful for anyone who intends to practice in an area involving significant business planning.

Prerequisite: Law 254J, 354J, 454J, 554J, (Federal Income Taxation) 254N, or 354N (Federal Income Taxation A).

The course covers the taxation of partnerships, limited liability companies and S corporations, the most common forms of business organizations that involve a single level of tax. Most business entities with non-publicly traded interests take one of these forms; almost all such entities should take one of these forms. The rules on partnership tax also are increasingly relevant to a corporate and international practice as partnerships are used for corporate and international joint ventures and as vehicles for mergers and acquisitions. The course is essential for anyone who intends to practice in tax. It is useful for anyone who intends to practice in an area involving significant business planning.

Prerequisite: Law 254J, 354J, 454J, 554J, (Federal Income Taxation) 254N, or 354N (Federal Income Taxation A).

The course covers the taxation of partnerships, limited liability companies and S corporations, the most common forms of business organizations that involve a single level of tax. Most business entities with non-publicly traded interests take one of these forms; almost all such entities should take one of these forms. The rules on partnership tax also are increasingly relevant to a corporate and international practice as partnerships are used for corporate and international joint ventures and as vehicles for mergers and acquisitions. The course is essential for anyone who intends to practice in tax. It is useful for anyone who intends to practice in an area involving significant business planning.

This course provides a practical understanding of the primary business objectives and legal considerations in equity co-investing and the formation of joint  ventures (“JVs”) as well as the core legal documents commonly used to govern them. While the form and terms of a JV can widely vary, we will focus primarily on investments carried out through separate legal entities and, with a few exceptions, assume the JV and JV parties are US entities. Throughout the semester, students will not only gain an understanding of common business and legal terms negotiated in the formation of a JV, but also see how those concepts are translated into the form of a legal agreement using model documents (primarily the limited liability company agreement  or shareholders agreement). We will also use select facts pertaining to real life JVs to illustrate the areas of possible tension or alignment between JV parties and how different types of JV partners (financial vs. strategic) bring different contributions and concerns to the table. The course will also provide a general background of private equity structures and strategies.

25% Class Participation

75% Drafting Exercises (3 total) - Over the course of the semester students will complete two drafting exercises where they will be asked to review and propose revisions to or interpretations of select provisions of a joint venture agreement using a hypothetical fact pattern and client goals based on readings and class discussions on the applicable topic(s). There will be a third and final assignment to be completed as a take-home final which will require students to analyze a hypothetical fact pattern and documents using the knowledge gained over the course of the semester  

It is strongly suggest students take Business Organizations/Associations as a pre-requisite or at a minimum concurrently with the course.