The playing field; the rulebook; acquiring the prospect and selecting a location; environmental due diligence; drilling and producing; waste disposal; abandonment; personal and parent corporation liability and criminal exposures; contractual protections - warranties, covenants and indemnities; insurance; legal opinion. Appendices: commonly-used environmental acronyms; EPA list of hazardous wastes from non-specific sources; EPA list of hazardous wasted from specific sources; exploration, development of production wastes exempt from RCRA subtitle C; exploration, development of production wastes non-exempt from RCRA subtitle C; authorized Texas railroad commission waste disposal methods.