A Joint Development Agreement (“JDA”) is the most important DrillCo agreement and contains the full expression of the rights and obligations of the drillCo parties. Among the most important terms of the JDA are: [Context: September 11, the Carlyle Group (NASDAQ: CG) announced a $620 million drilling with Diamondback Energy (NYSE: FANG). More details, consultants and related links can be found below.] New York, NY – September 11, 2018 – Global alternative asset manager The Carlyle Group L.P. (NASDAQ: CG) and Diamondback Energy, Inc. (NYSE: FANG) have reached an agreement to finance the development of Diamondback`s oil and gas facilities in the San Pedro area of Pecos County, Texas, in the southern Delaware Basin. Carlyle Group`s Energy Mezzanine team and Diamondback Energy Form joint venture; Carlyle Fund and Diamondback provide $620 million for the development of oil and gas facilities in Texas “News Feeds provide us with the latest legal analysis and practical information. There seems to be a comprehensive analysis that is beneficial to us in the analysis of different legal areas. It offers a quick-fire update of various legal developments and helps us stay informed. The items are well covered and contain the right amount of detail. The size and depth of the items are also good, so we can get the information you need very quickly.
The articles are generally of pure quality and by high-level authors who provide articles concise enough to learn a lot about new developments in a short period of time. I like the format because it`s easy to scan relevant articles. It`s a great tool. I like the fact that you can customize news feeds based on jurisdiction and workspace, and receive only information relevant to your practice. Operators appreciate the use of DrillCo agreements because DrillCos, if well structured, receive cash flow and avoid balance sheet liabilities. For an operator with limited access to capital and which has a development potential area, a DrillCo transaction is an attractive mechanism for the operator to expand its area.