Jim Strawn

Jim Strawn handles oil and gas A&D, mergers, and the full range of upstream and midstream transactions for independent and mid-size E&P companies. He draws on thirty years in-house and more than a decade in Big Law. He understands the business from prospect identification to the burner tip, which lets him spot the land, tax, regulatory, and operational issues many transactional lawyers overlook. Clients rely on his no-nonsense, service-first approach: he’s available, useful, and timely, with clear answers that keep their business moving.

Producing Property Acquisitions and Divestitures

The purchase and sale agreement widely used for producing property transactions is loosely modeled on a form Jim drafted in the late 1980s. Some of his original clauses are still in use, so when a question comes up about what a provision means, he can explain why it was written. He understands the full range of issues that can come up with the assets being bought or sold, across the land, production, contract, tax, HR, corporate, and regulatory sides. That often goes beyond what a seasoned land manager knows. He also keeps deals on pace, because bids weaken the longer they sit. A delayed signing can cause a top bidder to walk away and leave the seller negotiating from a weaker position with the rest of the field.

Merger and Deal Structuring Built on Business Knowledge

Jim’s work on merger and contribution agreements begins with a business question: where does the value lie, and what is each party bringing to the transaction? His understanding of the geology and exploration targets behind a deal helps him assess the assets and identify issues early. When an owner’s outside obligations threaten a transaction, he develops alternative structures, such as converting an equity stake into a passive working interest or an overriding royalty interest and explains each option clearly. His transactional work also includes:

• Joint operating agreements
• Farmouts and drillco arrangements
• Oil and gas marketing and midstream agreements
• Hard minerals and mining rights
• Renewable energy matters

Bench, In-House, and Operator Experience

Jim began his career as an administrative oil and gas judge. Operators there needed prompt decisions because significant capital rode on every well, and that sense of urgency has stayed with him. He went on to spend thirty years in-house, visitng rigs and well sites, serving on management committees, and helping build Devon Energy’s legal department as the company grew tenfold. In-house counsel handle whatever comes through the door, which Jim compares to learning to read music rather than playing a single song. It’s a fitting comparison for a lawyer who composes at the piano. He also owns oil companies, so he sees the same LOE invoices and AFEs his clients receive. He’s one of the few attorneys who can interpret well logs or explain a Darcy, keyseat, or salt scrape. That range makes him the lawyer clients call when a matter falls outside the usual lines, and his reputation for it reaches even his competitive ice hockey teammates.

Transaction Drafting Informed by Litigation and Industry Shifts

In-house lawyers carry a deal from cradle to grave, so Jim has managed hundreds of litigation matters. That experience informs every agreement he drafts, because he knows what holds up, what doesn’t, and which contract provisions, title matters, environmental issues or damage incidents tend to turn into disputes. He also follows where the industry is heading. As shale plays mature, operators are returning to higher-risk conventional prospects, where drilling and completion elections under JOAs matter again. More clients now send him AI-drafted contracts, and he reviews them with the same rigor he applies to any other draft. He shares this perspective as an expert witness in oil and gas transactional matters and through presentations to land professionals and legal audiences.