Learning how to successfully buy and sell petroleum property through trial and error is a costly lesson. In this text, seasoned veteran Jim Haag imparts to readers on both sides of petroleum property transactions, drawing on his more than 25 years experience in the discipline. Addressing the acquisition and divestiture of individual producing or discovered non-producing assets Haag, in step-by-step fashion covers the entire process so readers will understand each step in the process, know where that step fits in the overall transaction, and anticipate what will happen next. Key Features & Benefits: • Case histories show how the author's guidelines are applied in working transaction proposals • ""Lessons Learned"" chapter summarizes for readers how they can avoid common mistakes