David G. Drumm
Partner
Real Estate and Oil and Gas
Phone: 214-855-3032
Direct Fax: 214-758-3732
Email: ddrumm@ccsb.com
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“In real estate you have to balance speed with being deliberative and contemplative. Real estate lawyers can be overly analytical, ‘Ready aim, aim, aim, aim…’, and end up afraid to fire. It’s important to be as analytical as the situation requires, but my job is to figure out what the client needs and then pull the trigger.”
Mr. Drumm serves on Carrington Coleman’s four-person Executive Committee. He is a transactional attorney whose practice focuses primarily on lending, real estate, and oil and gas transactions, and extends to other types of business transactions. In real estate, Mr. Drumm represents developers, lenders, investors, landlords and tenants, sellers and purchasers of land and income-producing property, investment managers, brokers, and home buyers and sellers. He routinely handles a broad range of real estate matters involving various aspects of the development, subdivision, construction, and financing process for all market sectors, including apartments, shopping centers, office buildings, warehouse and industrial properties, hotels, condominiums, and single-family residential subdivisions. Representative clients include a variety of religious and other non-profit organizations and a number of family investment groups.
Mr. Drumm handles real estate loans of all types, including home and construction loans and tax-exempt bond financing; foreclosures; work-out negotiations and reorganizations; lease negotiations for all land and building types; lease enforcement issues, residential lot warehousing transactions; and purchases of land for speculative investment or simultaneous resale.
He regularly represents oil and gas producers in connection with leasing, operating agreements, farm-out agreements, purchase and sale of producing properties, energy lending credit transactions, exploration agreements, title opinions, and various other aspects of the industry. He also has represented lending institutions making energy-related loans, and landowners who lease oil and gas properties to oil and gas operators.
The balance of Mr. Drumm's practice includes the representation of lenders in areas other than real estate and oil and gas, including asset-based lending and commercial loans; formation of limited partnerships, limited liability companies, and other business entities; and representation of parties to a variety of other contractual agreements, including franchise agreements, service contracts, co-ownership agreements, and equipment leases.
Mr. Drumm is listed in the 2012 and 2013 editions of The Best Lawyers in America in the area of Real Estate Law.
“I enjoy interaction with clients, particularly clients who own their own businesses and don’t deal with bureaucratic hierarchies. I like getting inside their heads and seeing the world through their eyes. You see the world one way for one client and differently for the next.”
Representative Matters
Represented oil and gas producer in 9-figure sale of Barnett Shale properties.
Represented developer in securing ad valorem and occupancy tax rebates on mixed-use hotel, retail and office development.
Represented purchaser of 50 acres of commercial land out of bankruptcy.
Represented investors in an out-of-court insolvency workout of oil and gas promoter’s assets and liabilities.
Represented gas producer in joint development and exploration agreements in Williston Basin, Montana.
Represented decedent’s estate in work-outs with lenders and sales of multiple hotel/motel properties.
Education
Southern Methodist University
J.D., cum laude, 1980
Member: Phi Beta Kappa, Phi Delta
Phi, Order of the Coif
Notes and Comments Editor,
Southwestern Law Journal, 1979-80
University of Texas
B.A., summa cum laude, 1977
Admittances
Texas 1980
Associations/Affiliations
Member: American Bar Association Natural Resources, Energy and Environment Section and Real Property, Probate, and Texas Law Section.
Member: State Bar of Texas Environmental and Natural Resources Law Section and Real Estate, Probate, and Trust Law Section.
Member: Dallas Bar Association Real Property Section and Energy Law Section.
Speeches/Publications
Wellbore Assignments - Some Guidance At Last, Carrington Coleman Capital Newsletter, Fall 2009.
Purchase and Sale Agreements For Raw Land Development Including Staged Closings and Takedowns, February 2007.
Negotiating and Drafting Lending Agreements for Raw Land and Development Loans, November 2006 and November 2007.
The UCC as Applied to Oil and Gas: What Effects?, February 1996.
Oil and Gas Law, Chapter 29 in Doing Business in Texas, International Law Section State Bar of Texas.
Conforming the Nonforming Use: Proposed Legislative Relief for a Zoning Dilemma, 33 Southwestern Law Journal, 855-882, September 1979.
