The Woodlands Divorce Attorney Represents Oil and Gas Industry Executives and Spouses
Specific experience with litigation involving Texas mineral leases and royalties
When residents of The Woodlands and the greater Houston area go through a divorce, their joint or separate property holdings often include interests in oil and gas exploration and/or production. Safeguarding a client’s interests, while shepherding this type of property through the “just and right” distribution process, requires specific knowledge and experience. At the Law Office of Jerry Porter, we are prepared to manage all issues related to oil and gas rights during property division. I have more than 30 years of experience. I am experienced in complex, high net-worth divorce litigation. Whether you are an executive in the energy sector or a spouse, I can protect your rights to a fair distribution of these valuable assets.
Guiding oil and gas holdings through Texas property division
During your divorce, oil and gas assets must go through the same “just and right” division process as all your other assets and debts. However, these types of assets raise important questions that your attorney must address at each stage of the process:
- Classification as separate or marital property — Property rights generally belong to the person whose name is on the deed or lease. If both spouses have signed, the weight of the evidence would seem to favor a classification as marital property. However, if only one spouse’s name is on a lease, is that dispositive? Did the executive use funds from the marital estate to make the purchase? Did the executive’s spouse understand that the executive was handling the business end of such purchases, but any revenues were to be shared? Was the purchase made before the marriage, but profits were only realized during the marriage? Were those profits commingled or held separately? Proper classification requires thorough investigation into the provenance of the assets.
- Valuation — Oil and gas holdings are highly speculative. There’s often doubt about how long it will take for a well to produce and how much product it will yield. Additional complications, such as cost of construction and indemnities, can influence the value of mineral rights.
- Distribution — In the event that oil and gas rights are determined to be marital property, what is a fair split of the profits? Was the executive’s particular expertise in this area such a factor as to merit the lion’s share of the revenues? Or was this type of investment simply part of the couple’s diverse portfolio? Do factors like the duration of the marriage and the spouse’s contribution to the household approximate the executive’s contribution in building wealth through oil and gas acquisitions?
In a high net-worth divorce, your attorney must be willing to outwork the other side to make the strongest case for your property rights. Throughout the process, I am totally focused on helping you achieve the best possible outcome.
Contact a Woodlands divorce attorney who understands oil and gas rights
If your personal or marital property includes property dedicated to oil and gas production, you need a divorce lawyer who understands that industry. After more than 30 years of practice, I have the knowledge and experience to manage the distribution of these types of assets. If you’re in The Woodlands, Montgomery County or the greater Houston area, call 281.296.3131 or contact the Law Office of Jerry Porter online to schedule a consultation.