News & Analysis as of

Natural Gas Commercial Bankruptcy

Hogan Lovells

Black Swan or new dawn: Why supply chain management is more important than ever

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Supply chains are increasingly vulnerable to a range of risks. In recent years businesses have focussed upon streamlining their supply base to minimise costs. They have sought to reduce inventory to free up working capital...more

Morgan Lewis - Power & Pipes

Assumption and Rejection of Midstream Agreements in Bankruptcy

Is a midstream contract treated the same as other executory contracts in bankruptcy, subject to assumption and rejection pursuant to the US Bankruptcy Code? An executory contract is any contract of the debtor where both the...more

Troutman Pepper

FERC Finds Abrogation of Gas TSAs Would Not Be in the Public Interest Ahead of Possible Bankruptcy Proceeding

Troutman Pepper on

On October 28, 2020, FERC declined to abrogate or modify firm natural gas transportation service agreements (“Gulfport TSAs”) between Gulfport Energy Corporation (“Gulfport”) and Rockies Express Pipeline LLC (“Rockies...more

King & Spalding

Energy Newsletter - June 2020

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The Impact of COVID-19 on Nuclear Electricity Sales Contracts in France - The electricity sector, like numerous others in France, has been heavily affected by the economic shutdown due to the COVID-19 pandemic. The...more

Patterson Belknap Webb & Tyler LLP

PG&E’s $58B Bankruptcy Plan Moves Closer to Approval

We’ve reported here and here on the January 2019 bankruptcy filing by Pacific Gas and Electric (“PG&E”), which was primarily the result of potential liability stemming from catastrophic California wildfires. Since then, PG&E...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights: April 2020 #3

U.S. Banks Prepare to Seize Energy Assets as Shale Boom Goes Bust - "Major U.S. lenders are preparing to become operators of oil and gas fields across the country for the first time in a generation to avoid losses on loans...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - April 2020 #2

China Resumes LNG Imports from the U.S. - "Chinese buyers have resumed imports of liquefied natural gas from U.S. exporters, as Beijing started granting waivers to a 25% import tariff." Why this is important: In the...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - March 2020 #2

The Drop in Oil was Perhaps the ‘Final Straw’ for U.S. Credit Markets, Strategist Says - "The credit market is sensitive to moves in oil because a 'very large portion' of high-yield bonds in America are issued by...more

McGuireWoods LLP

Texas Bankruptcy Ruling Reinforces Dedication Clauses in Gas-Gathering Agreements

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A Texas bankruptcy court recently ruled that dedication clauses in gas-gathering agreements run with the land and cannot be rejected by a debtor. That decision, In re Alta Mesa Resources, Inc., affirms an industrywide...more

Flaster Greenberg PC

Are Northern California’s Blackouts An Image Of Our Energy Future?

Flaster Greenberg PC on

Pacific Gas and Electric provided its customers in northern California with a glimpse of the future last week. Due to extremely dry conditions coupled with the prospect of strong winds, and cognizant of last year’s massive...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - September 2019 #3

FERC Proposes to Modernize PURPA Regulations - "The Federal Energy Regulatory Commission proposed to modernize its regulations governing small power producers and cogenerators under the Public Utility Regulatory Policies...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - July 2019 #2

Oil Drops More Than 3% After State Secretary Pompeo Says Iran Is Ready To Negotiate About Its Missile Program - "Oil prices turned lower on Tuesday, falling by about $2 a barrel as U.S. President Donald Trump said progress...more

King & Spalding

Energy Newsletter - July 2019

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Choose Your Own Adventure: Farmouts of International Oil & Gas Interests and the AIPN 2019 Model Form - When I teach about the Association of International Petroleum Negotiator’s (AIPN) Model International Farmout...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - May 2019 #3

PA Supreme Court Upholds Decision Allowing Drilling in All Districts Under a Local Zoning Ordinance as Long as They Meet Standards - "This case is one of several recent decisions in Commonwealth Court and the PA Supreme...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - March 2019

U.S. Senate Committee to Discuss Climate Change, Electricity Changes - "U.S. Sen. Joe Manchin, D-W.Va., said the hearing of the Senate Committee on Energy and Natural Resources is aimed at putting lawmakers and federal...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - February 2019 #3

NY Natural Gas Moratorium Due to Lack of Pipelines, but Some in Denial - "The slowing of economic development resulting from New York's political actions is a testament to what happens when energy becomes politicized." ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The G-20 summit in Buenos Aires wrapped this weekend with the nations agreeing to a joint statement that “affirms the importance of the multilateral trading system” while giving ground to both the US and China over language...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights - April 2018

Bobby D. Fentress, et al, vs. Exxon Mobil Corporation, et al - "This is an Employee Retirement Income Security Act case alleging a breach of fiduciary duties in the management of a defined contribution plan. Defendants'...more

Morrison & Foerster LLP

Unsecured Creditor Perspectives in Energy Restructurings

This Practice Note provides guidance and advice to unsecured creditors in energy restructurings. This Note specifically addresses restructurings in the oil, gas, and coal industries and the strategies that unsecured creditors...more

Spilman Thomas & Battle, PLLC

The Shale Play Today - Second Quarter 2016

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

Snell & Wilmer

Is Coal Down For The Count

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Last week Peabody Energy announced that it filed bankruptcy. Peabody is the nation’s largest coal company. The filing by Peabody comes on the heels of the January 2016 bankruptcy filing by Arch Coal, the nation’s second...more

Spilman Thomas & Battle, PLLC

The Oil and Natural Gas Industry: The Impacts and Uncertainty Continue

By now we’ve all seen the headlines: “Oil crashes below $27 a barrel,” “Oil prices likely to remain low 3-5 years” and “U.S. oil bankruptcies spike 379%.” At first, these headlines seemed a little “distant” to me. It seemed...more

Porter Hedges LLP

Energy Alert: Bankruptcy Court Rejects Midstream Contracts

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In a highly anticipated ruling being carefully watched by both distressed upstream producers of natural gas and the pipelines that gather the gas, Judge Shelly Chapman of the United States Bankruptcy Court for the Southern...more

Stinson LLP

Bankruptcy Court Finds That Contract Covenants Do Not Run with the Land - Midstream Companies face increased risk with financially...

Stinson LLP on

In a decision entered yesterday afternoon, Judge Shelley Chapman of the U.S. Bankruptcy Court for the Southern District of New York authorized Sabine Oil & Gas Corporation to reject certain midstream contracts under Section...more

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