David H. Smith leads the Acquisitions, Finance, & Divestiture group at Smith Clark Pennington. He represents E&P companies, midstream, and service companies in all manners of transactions, acquisitions, and divestitures, private equity, as well as lenders and borrowers. His clients also include businesses in the health care industry and federally chartered and private banks. He offers outside general counsel services to select established clients.

Previous Experience:

Mr. Smith served on the Board of Directors of Parsley Energy (NYSE: PE) from its time as a private company in 2012 until its merger with Pioneer Natural Resources (NYSE: PNG) in 2021. Mr. Smith chaired the Nominating and Governance Committee and was ultimately the chairman of the ESG Committee.

Mr. Smith was a shareholder at Davis Gerald & Cremer, PC, where he worked for twenty-one years prior to founding Smith Clark Pennington. He led that firm’s business and transaction group.

Prior to moving back to West Texas, Mr. Smith worked at Thompson & Knight in Dallas as an oil and gas trial lawyer.

Bar Admission:

Texas, 1995

Education:

• University of Houston Law Center, J.D., 1995, Magna Cum Laude, Order of the Coif, Order of the Barons, and editor of the Houston Law Review.
• Harvard University, Master of Economics
• Boston University, B.A. Economics and Business Administration

Mr. Smith represented Parsley Energy in almost all of its acquisitions and other matters from its founding to its public offering. Upon its merger with Pioneer, Mr. Smith continues to represent the follow up companies of Parsley, including Formentera Operations, which was also founded by Bryan Sheffield.

Having known David Smith for 15 years and having numerous conversations with him in helping us start an E&P company (Parsley Energy, formerly NYSE: PE), papering most of our largest acquisitions, loans, and private equity investments, being a board member, reviewing and discussing operational aspects from business strategies to master service agreements, his experience has made an indelible impact on me both professionally and personally. In the business I’m in, trust and knowledge from people in his profession is invaluable. I can’t imagine being in the profession I’m in without his insights and expertise.

– Paul Treadwell, Managing Partner, Formentera Partners. Co-Founder of SVP Parsley Energy

Justin Clark practices in the Acquisitions, Finance, & Divestiture and Tax Planning & Controversy groups at Smith Clark Pennington. He focuses on advising companies in the oil and gas and oilfield service industries in acquisitions, divestitures, private equity raises, joint ventures, debt financings, leases and sales of minerals and equipment, and 1031 exchanges with issues unique to mineral interests.

Previous Experience:

Justin began as an associate at Davis Gerald & Cremer, PC, and later became an equity shareholder in 2018. He also worked as an associate in the tax and energy departments of Munsch Hardt Kopf & Harr, PC, in its Dallas office prior to returning to Midland.

In connection with Parsley Energy’s initial public offering, Justin contrived a structure that allowed the company’s founders to preserve their suspended “at risk” losses for intangible drilling costs whereby such losses could offset gains from subsequent stock dispositions.

Justin also represented several of the principals of E.G.L. Resources in effectuating numerous 1031 exchanges with gains arising from their sales of the Spanish Trail assets to RSP Permian.

More recently, Justin represented West Texas Gas, Inc. in connection with its joint ventures with Stonepeak Infrastructure Partners to invest in the Whistler and BANGL Pipeline Projects.

Education:

• New York University School of Law
  New York, New York, 2008
  LL.M. in Taxation
• University of Missouri-Kansas City School of Law
  Kansas City, Missouri, 2007
  J.D., cum laude
  Law Review: UMKC Law Review Associate Editor
• Westminster College
  Fulton, Missouri, 2004
  B.S., Business Finance and Political Science
  Honors: Scholarship Chair for the Kappa Alpha Order

Publications and Presentations:

• “Estate and Gift Tax Updates and Opportunities in the Current Economy,” published in Investments & Wealth Monitor, July/August 2009
• “Recent Developments in Trasferee Liability for Intermediary Transactions,” published in Checkpoint’s Federal Taxes Weekly Alert Newsletter, Volume 58, No. 7, February 16, 2012
• “Like-Kind Exchanges After The 2017 Tax Cuts & Jobs Act,” presented to the Permian Basin Chapter of the Texas Society of CPAs in May of 2018

Bar Admissions:

• Missouri, 2007
• Illinois, 2008
• Texas, 2011
• U.S. Tax Court, 2009

Other:

Justin currently serves on the Board of Directors of Hillander School where his sons, Ian and Max, are students.

Justin has worked with us at PBEX for over 7 years as our corporate lawyer. He is an expert in business transactions from all facets. With his expertise in tax law and working hand in hand with our CPA and CAO, we successfully minimize our tax liabilities. In addition, he is the best transaction lawyer we have ever worked with. He understands complex structures, is diligent, timely and extremely smart. PBEX counts on him for all our legal needs.

–  Wes Perry, Chairman of PBEX

Justin is the first true tax attorney I have had the pleasure of working with. Over the course of my business career various lawyers and accountants have often responded to certain questions with “that’s a question for your attorney” or “that’s a question for your CPA.” In contrast, Justin is often able to answer such questions with the likes of “these are your options for structuring the deal, here are how the different structures will be taxed, and I will coordinate the reporting of such with your CPA.” I would recommend him to anyone who enjoys minimizing tax liability in their business affairs.

– Mike Oestmann, CEO of Tall City Exploration

Jill C. Pennington leads the Trial and Litigation Group. With strong roots in the oil and gas industry, coupled with her graduate studies in business, her practice emphasizes oil and gas contract disputes, complex personal injury and property matters, general corporate and business defense, and probate, trust and fiduciary litigation. She has represented a variety of clients in Texas and surrounding states, including oil and gas operators, corporations, publicly traded companies, landowners, small and mid-size businesses, estates, executors and fiduciaries. Jill was recently recognized as a Top Women Attorney in Texas, Super Lawyers honoree. She is active in the Midland community and as a Texas Tech alum.

Previous Experience:

Jill began her career in oil and gas working for a large oil and gas operator in Bartlesville, Oklahoma. After graduating with a  Petroleum Land Management (PLM) degree, she went on to obtain her JD and MBA with sights of working on oil and gas title matters. In 1998, Jill began her practice in the oil and gas section of a Midland-based firm. She soon transitioned into blending her advocacy skills with her energy background, moving into oil and gas litigation the following year. Jill soon expanded her practice to include catastrophic oil and gas personal injury and medical malpractice matters. This gave her invaluable insight into both sides of personal and property damage claims. For the next 15 years, Jill practiced as a shareholder with Davis, Gerald & Cremer representing energy clients and individuals in all types of oil and gas and catastrophic loss litigation.  You may find a link to her curriculum vitae here.

Bar Admissions:

• Texas, 1998
• U.S. District Court, Western District of Texas, 1998

Education:

• Texas Tech University School of Law – Dual Degree Participant, M.B.A., J.D. Honors: Board of Barristers; Golden Key; Dean Scholar; Student of the Year – American Association of Petroleum Landmen
• Texas Tech University, B.S., Petroleum Land Management

Professional Associations and Memberships:

• Member, State Bar of Texas
• Member, American Bar Association
• Member, Midland County Bar Association
• Member, Texas Association of Defense Counsel
• Member, American Association of Petroleum Landmen
• Member, Texas Tech Law School Advisory Board (2019 – present)

Other:

• Advisory Member, Texas Tech Energy Law Advisory Board (2018-Present)
• Board of Trustee, Midland Memorial Hospital (2020 – present)
• Board Member, Midland Development Corporation (2020 – present)

The legal services provided by the attorneys at Smith Clark Pennington are trustworthy and sound. Justin Clark has been a tremendous resource for corporate structuring and in advising our family and businesses on esoteric nuances of tax law. Jill Pennington has represented Mabee Ranch for over a decade. Her background and knowledge of the oil and gas industry, as well as fiduciary law, coupled with her polished presentation style are cognizable assets in litigation matters.

– John Mabee, Mabee Ranch

Bobby Bland is Of Counsel in the Trial & Litigation group at Smith Clark Pennington. He represents large net worth individuals, midstream, and service companies in all manners of litigation. His clients also include large landowners, farmers, and trust-related litigants.

Previous Experience:

Mr. Bland served as the Ector County District Attorney for fourteen years. Governor Rick Perry appointed Mr. Bland in 2006. He was re-elected four times. While District Attorney, Mr. Bland personally handled some of the most difficult and important criminal cases in Ector County history, including prosecuting the most prolific serial killer in U.S. history. Mr. Bland has trained prosecutors, criminal defense attorneys, and law enforcement throughout Texas on numerous criminal law topics. In 2019, he was recognized by his peers and named the Lone Star Prosecutor of the Year. Mr. Bland has been featured on 60 Minutes, 20/20, CNN, Fox News, the New York Times, London Times, USA Today, and many other media outlets. When he retired, he was the longest serving District Attorney in Ector County history having lost only one criminal trial during his prolific time in office. With his vast trial experience, Mr. Bland and Ms. Pennington form a formidable team in all types of litigation matters.

Bar Admission:

Texas, 1994

Education:

• Texas Tech College of Law, J.D. 1994
• Texas A&M University

News Articles:

2019 Ector County DA Bobby Bland honored with Lone Star Prosecutor Award

Other:

Mr. Bland has served on the Board of the Odessa and Permian Basin Boys and Girls Club for over 20 years, including several stints as President. He also has served as the President of the Texas District and County Attorney Foundation.

Michael Christensen is in the Trial & Litigation group at Smith Clark Pennington. He represents clients in probate, trust, and other fiduciary disputes. Michael also has extensive experience representing oil and gas exploration companies and landowners in upstream oil and gas litigation matters. Michael’s background as an oil and gas litigator provides him with a unique perspective and advantage in resolving complex estate and trust controversies involving significant oil and gas assets.

Previous Experience:

Prior to joining Smith Clark Pennington, Michael was a Shareholder and Vice President at Stubbeman, McRae, Sealy, Laughlin & Browder, Inc., and an associate attorney at the Midland-based oil and gas litigation boutique, Davis, Gerald & Cremer PC, where his practice focused on oil and gas lease termination disputes, general commercial litigation, and catastrophic personal injury defense. Michael is a West Texas native and has represented Fortune 500 companies, publicly traded independent oil and gas companies, privately held companies of all sizes, and individuals throughout the Permian Basin. Michael is licensed in Texas and New Mexico.

Bar Admissions:

• Texas, 2013
• New Mexico, 2014

Education:

• Texas Tech University School of Law
  Lubbock Texas, 2013
  J.D., magna cum laude
• Texas Christian University
  Fort Worth, Texas, 2010
  B.A., cum laude