News & Analysis as of

Oil & Gas General Partnerships

Bracewell LLP

Delaware Chancery Court Dismisses Challenge to MLP Drop Down Transaction

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The Delaware Chancery Court recently dismissed a challenge to a transaction in which a master limited partnership (the "MLP") repurchased an interest in a crude oil pipeline in 2015 previously sold to its general partner (the...more

Locke Lord LLP

Locke Lord QuickStudy: The Broader Lesson of the El Paso Pipeline Decision

Locke Lord LLP on

Alternative entities, such as limited partnerships and limited liability companies, have an advantage over corporations because of the greater flexibility to define the terms of the arrangement by contract. ...more

McGuireWoods LLP

It’s All About the Process: Lessons from Delaware Court on MLP’s Conflicts Committee Approval

McGuireWoods LLP on

On April 20, 2015, the Delaware Court of Chancery issued a post-trial opinion in the case In Re: El Paso Pipeline Partners L.P. (C.A. No. 7141-VCL), finding El Paso Pipeline GP Company LLC, the general partner (GP) of El Paso...more

Latham & Watkins LLP

Midstream MLP Merger Mania Maintains Momentum

Latham & Watkins LLP on

The market’s notable uptick in MLP-to-MLP M&A activity, often preceded by an acquisition of the target MLP’s general partner, follows a trend we recently identified. At least five MLP M&A transactions have been...more

Latham & Watkins LLP

Four Trends in Master Limited Partnership M&A in 2014

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MLP merger and acquisition activity can take a number of different forms to unlock value for sponsors and unitholders. Background - In the first half of 2014, master limited partnership (MLP) mergers and...more

Jackson Walker

Choice of Entity Decision Tree: Choice and Acquisition of Entities in Texas

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In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation • General Partnership • Limited...more

Gray Reed

Federal Court Calls General Partnership Interest A Security

Gray Reed on

Are general partnership agreements for oil and gas exploration considered “securities” governed by federal securities regulations? The U.S. Court of Appeals for the 10th Circuit thinks they could be. In SEC v. Jeffory...more

Jackson Walker

Fiduciary Duties In Oil Patch Deals

Jackson Walker on

I. GENERAL. A. Introduction. In selecting a form of business entity for an oil patch deal in Texas the organizer or initial owners can consider the following five business entity forms: • Corporation •...more

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