Environmental issues in the oil and gas exploration and production industry continue to grow and become more complex. As the domestic industry is reshaped through acquisitions and divestitures, the associated environmental issues become a major factor in this evolutionary cycle. An understanding of the environmental aspects of a transaction and the timely and complete management of them will greatly assist in a successful transfer of assets for both the buyer and seller. Early identification of the environmental aspects of the acquisition/divestiture and involvement by the key personnel in their management should prevent those costly surprises from a governmental agency or a court at a later date.

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