Oil & Gas

News & Analysis as of

Energy Sector Alert Series: Risks and Opportunities in Distressed Oil and Gas

In this eight-week alert series, we are providing a broad look at current and emerging issues facing the energy sector. Attorneys from across the firm will discuss issues ranging from environmental disclosures and risk...more

Midstream Contract Acreage Dedications at Risk

If you read one thing... - On Tuesday, Judge Shelley Chapman, the Southern District of New York Bankruptcy Judge in the Sabine Oil & Gas chapter 11 cases, noted she was “inclined” to permit the rejection of certain...more

UK Government initiatives for UK oil and gas : forging links with Mozambique

Last week, the UK Government had a busy week on the oil and gas front – publishing the Draft MER UK Strategy and announcing new measures to encourage investment in the sector and a new City Deal for Aberdeen....more

UK-Iran Trade – A New Chapter

The UK Foreign & Commonwealth Office recently hosted a panel discussion with UK business leaders to clarify UK trade policy on Iran following the lifting of sanctions. The principal points of note for those interested in...more

What is an Adequate Description For a Mineral Lien ?

Thanks to In re Reichmann Petroleum Corp., we know one that works in Texas: A lien affidavit attaching either a plat or a plat and a Texas Railroad Commission Form W-1 provides an adequate property description for a mineral...more

Alberta announces new oil and gas royalty framework

Following the general election on May 5, 2015, Alberta’s new government moved swiftly to strike a panel (the Panel) to review and recommend changes to Alberta’s oil and gas royalty framework....more

Arbitrage and Investment Opportunities with Respect to Midstream Oil and Gas Assets

In the current price environment, highly leveraged exploration and production (E&P) companies facing liquidity-induced stress find themselves facing a dilemma. As borrowing-base cuts loom, capital markets remain tight and...more

How Will Exploration and Production Companies Weather the Storm of 2016?

On December 31, 2014, when the price of West Texas Intermediate crude oil dropped 50% from summer prices that year to just under $55.00 per barrel, experts predicted there would be a flurry of industry restructurings; but no...more

California Insurance Commissioner Asks Insurers to Exit Thermal Coal Investments

On January 25 the California Insurance Commissioner issued a press release, and also sent email messages to insurers licensed in California, indicating that he is requesting all insurers doing business in California to...more

Below $30 - Disputes in a Low Oil Price World

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

Energy & Environment Update - January 2016 #3

Energy and Climate Debate - The winter weather postponed much congressional and Administrative action on energy, environment, and other issues this week, but the Senate has now officially begun floor debate on the first...more

Ohio Supreme Court: Form Oil and Gas Lease Not Void as Against Public Policy

Earlier this week, in an unsurprising but nevertheless meaningful decision, the Ohio Supreme Court unanimously ruled that the standard form oil and gas lease at issue was not “perpetual,” and thus was not void as against...more

Lower Gas Prices Mean More Accidents for Chicago

Lower gas prices put a smile on drivers’ faces as they pull away from the pump with the saving in their pockets. A drop in fuel costs can also mean lower costs on everything from food to airline tickets as companies pass...more

Kamala Harris Puts Exxon Under Her Microscope: California AG Reportedly Has Launched Review of Oil Giant’s Statements On Climate...

Students of history know that fighting a two front war is a hazard to be avoided. According to the L.A. Times, however, that is precisely the dilemma that now faces Exxon Mobil: dual investigations from attorneys general on...more

Your daily dose of financial news The Brief – 1.29.16

AIG may have shrugged off Carl Icahn for now, but Xerox has succumbed to his calls for breaking up and is expected to announce sometime today [update: it did] that it will separate its legacy hardware side from its services...more

Production in Paying Quantities: Maintaining Mineral Leases Beyond Their Primary Terms with Production of Oil or Gas

The sharp decline in oil prices over the past year and a half has had a significant impact on operators and mineral lessees in Louisiana and in other oil-producing states. Mineral lessees may be particularly concerned with...more

Quarterly Investment Update – 4th Quarter 2015

As we enter 2016, we want to thank you for the continued trust and confidence you place in Perkins Coie Trust Company. On the investment front, we anticipate continued stock market volatility this year as diverging global...more

The Beat Goes On: Pennsylvania Takes Aim at Reducing Methane Emissions from the Oil and Gas Industry

Pennsylvania is currently a hotbed of regulatory initiatives focused on the oil and gas industry. The Environmental Quality Board, for example, will decide on February 3 whether to adopt the Department of Environmental...more

‘Implementation Day’: Key Aspects of US and EU Implementation of Iran Sanctions Relief

On January 16, 2016, the International Atomic Energy Agency verified that Iran had complied with the nuclear-related technical aspects of the Joint Comprehensive Plan of Action it had to complete before the first phase of...more

Sanctions Against Iran Are Lifted

On January 16, 2016, the United States and European nations lifted oil and financial sanctions that have been imposed against Iran since 1979. These actions signal what is being called “Implementation Day” which refers to the...more

Film Highlights National Security Need for Renewable Energy

When one thinks of renewable energy and the growing movement to reduce dependence on fossil fuels, the US military is not, perhaps, the first thing that comes to mind. In reality, however, the military is tied inextricably to...more

Orrick's Financial Industry Week in Review

SEC Reopens Comment Period for Proposed Amendments to Rule 13n-4 under the Securities Exchange Act of 1934 - On January 15, the Securities and Exchange Commission reopened the comment period for proposed amendments to...more

108 Year-Old Lease Survives

A baseball question: You’ve got men on late in the game; a base hit to the right side wins. Do you put the bat on the ball for a single or swing for the deep seats, risking the game-ending strikeout?...more

Nigeria’s Petroleum Industry Governance and Institutional Framework Bill 2015

Reform of Nigeria’s oil and gas sector has been at the top of President Muhammadu Buhari’s agenda since assuming office in May 2015. Despite being drafted in 2007, the 223-page Petroleum Industry Bill (PIB) has failed to...more

Bridging the Bid-Ask Spread in the Oil Patch

Hope on the sell side and price volatility led to a wide bid-ask spread in 2015 and resulted in fewer financial sponsor-backed mergers and acquisitions transactions in the oil patch. Of late, prices have further plunged,...more

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