Horizontal drilling in the last decade materially altered oil and gas production in Texas. Horizontal wells allow producers to unlock vast mineral resources otherwise inaccessible to traditional vertical drilling. Commentors...more
Hedging remains a mainstay activity for many oil and gas producers to protect cash flows and manage operating budgets. However, these hedge programs and coverage levels were in place before price increases that occurred in...more
In 2007, the Kurdistan Regional Government (the “KRG”) enacted Oil and Gas Law No. 22 of 2007 (the “KRG Oil and Gas Law”). The Federal Government of Iraq (the “FGI”) had initially rejected the draft law, but the regional...more
The Fifth Circuit’s opinion in Cimarex Energy Company, et al. v. CP Well Testing, L.L.C. will require oil and gas companies throughout the oil patch to review their form contracts, preexisting agreements and liability...more
Find out what E&P companies need to know as they navigate through the impact of a negative and/or depressed oil and gas commodity pricing environment....more
A number of recent structurings of investment-grade rated securitizations of oil and gas wells are sparking conversations in the U.S. upstream oil and gas industry about this relatively new structured finance product....more
Reports issued in the past week state that Pemex, Mexico's national oil company, seeks operational control of Talos Energy's Block 7 oil and gas exploration area, located in shallow waters off the coast of the State of...more
Bénin recently adopted a new petroleum code, making the country one of the latest frontier countries in the West Africa oil and gas industry to update its petroleum law. The code provides for a production sharing contract...more
The foreign Act of State doctrine applies to arbitration just as it applies to litigation before the English courts, according to Popplewell J, in the first English law authority on the point. The dispute arose under two oil...more
Canada’s world leading oil and gas capital markets offer a wealth of opportunity, with their access to local and global natural resources, finance opportunities for companies at all stages, and sophisticated technical...more
• Mexico’s second farmout bid round to find partners for PEMEX oil and gas development yielded mixed results, with 2 onshore licenses awarded and 1 shallow water PSC vacated with no bids • Egyptian company Cheiron...more
Historically, natural gas did not play a significant role in Brazil’s energy mix, never exceeding 4% of Brazil’s primary energy supply until the late 1990s. Today, natural gas accounts for 12% of Brazil’s primary energy...more
Alors que les groupes pétroliers et gaziers s’intéressent au Sénégal depuis plus de soixante ans, ce n’est que depuis trois ans que le pays s’est révélé constituer un bassin d’hydrocarbures de classe mondiale. En 2014, Cairn...more
On March 7, 2017, the Mexican government, through the Comisión Nacional de Hidrocarburos (National Hydrocarbons Commission or “CNH”), commenced an international tender process to grant the right to enter into a production...more
Senegal has interested oil and gas companies for over 60 years, but it is only in the last three years that the country has come to the fore as a potential world-class hydrocarbon basin. In 2014, Cairn Energy plc and its...more
Introduction - In a dispute arising in connection with a sale and purchase agreement for an interest under a Production Sharing Contract in the Congo, an English court (the Queen's Bench Division of the High Court of...more
By now, both producers and midstream companies are aware of the Bankruptcy Court decisions in the Sabine bankruptcy proceedings (i) rejecting the gas gathering agreements as executory contracts and (ii) determining that the...more
The shale boom has given rise to another, less welcome boom: the bankruptcy boom. Thirty-five exploration and production (“E&P”) companies sought bankruptcy protection between July 1, 2014, and December 31, 2015, and this...more
In This Issue: A National Energy Plan: Should We Have One? Do We Have One? If So, Is It Working? Before ultimately answering the questions posed in the title above on a National Energy Plan, in full disclosure it...more
With the extended collapse in energy prices, many exploration and production (E&P) producers are now focused on not only adjusting their own drilling activities, but also on carefully assessing their partners’ financial...more
On March 8, 2016, a bankruptcy court in the Southern District of New York issued a much-anticipated decision, In re Sabine Oil & Gas Corporation, that will undoubtedly influence the reorganization strategies of certain...more
The news that crude prices fell below $30 per barrel - the lowest in 10 years - was not greeted with shock but by predictions that they might continue to fall and would stay low for some time. Any attempt to predict the...more
The recent boom in natural gas production in the Appalachian Basin has led to a concomitant boom in litigation, as landowners who are lessors in long-standing oil and gas leases seek declarations that the leases are no longer...more
On March 21, 2014 Petróleos Mexicanos (Pemex) submitted its round zero proposal to the Secretaría de Energía (SENER), Mexico’s department of energy. Although the details of the proposal are not yet public, SENER has indicated...more