Monday Mentors with Dallas Oil and Gas Lawyer Rhodes Hamilton

Rhodes Hamilton, founder and partner at Hamilton & Squibb in Dallas, joins us on today's show. Rhodes talks about launching your own law firm, COVID's impact on the energy sector, the importance of making progress, and demonstrating interest in the job you want.

His firm/practice

• Dallas and Fort Worth offices
• Oil/gas transactional boutique; midstream/upstream
• 10 total lawyers
• He didn't even take oil/gas in law school!
• Oil boom was coming right as he was leaving law school in 2005; Barnett Shale in Tarrant County
• After just three years saw the the opportunity to launch his own practice
  • Easiest hard decision he's ever had
  • Mortgage, car payment, first kid on the way
  • But saw the opportunity

COVID-19 Update (as of December 3, 2020)

• In April, oil prices went negative!
• O/G companies have generally been contracting; not a lot of transactional work happening; plenty of bankruptcy
• They are back in the office; gave people the option after the stay-at-home order expired
  • 80% of work happening in the office; still 20% or so from home
• Had to put a lot of client communication on calls/Zoom/Microsoft Teams; but that is really hard because in their business much of the business development happens face-to-face
• 2021 should be better
  • some consolidation of clients that will be sorted out
  • Commodity pricing is on its way up

Advice for lawyers in practice

• Be flexible; willing to do what is needed
• You always have to be developing business; can't be reliant on just a few clients...what if they leave? Don't be short-sighted.
  • Could mean writing, speaking, anything...
  • Even young lawyers/associates need to get out; be the firm's presence at activities/events that nobody else wants to go to
• Always be making progress. Listen, learn, improve.
• In a small firm, each associate is, by percentage, a much larger part of the firm than at larger firms, so each individual's development is critical to the firm's success
• Don't take things for granted; apply yourself; commit and jump in with both feet
• Re: work/life balance:
  • show a willingness to get the job done first
  • if that is happening and you want to take a Friday off or adjust the schedule, etc., then great!

Advice for lawyers who are job seeking

• Don't have to be at the top of the class for them
• Show interest in oil/gas
  • clerkship/internship?
  • industry groups?
• Fit is really important with a small firm, and that's hard to pin down
• For those wanting to transition to oil/gas from another area:
  • get involved in a trade group/organization
  • state bar section for oil/gas
  • you have to show your genuine interest
  • The firm can teach some of the oil/gas specifics if the desire to learn is there

Final thought:

• Get into something else aside your law practice (pro bono, side hustle, hobby); be well-rounded

Rapid fire questions:

• Name the one trait/characteristic you most want to see in an associate: willingness
• What habit has been key to your success: Be in front of trends; anticipate
• Favorite app/productivity tool: Microsoft Teams
• Favorite social distancing activity: Outside/fishing
• Favorite legal movie: The Firm

Thanks again to Rhodes Hamilton for coming on the show!