In This Issue:

- Opportunities in Distressed Markets: Insights into the Acquisition and Divestiture Process

- A Project Owner's Primer On Delay In Start-Up Insurance

- UKCS: Maximising Economic Recovery and the Oil and Gas Authority

- Zachry Construction Corp.: The End to Indemnity for Exemplary Damages?

- Anticipating PHMSA's Crude by Rail Rule

- ISO and RTO Responses to FERC Data Requests Fail to Provide Clear Support for Proposed Gas Day Rulemaking

- Excerpt from Opportunities in Distressed Markets: Insights into the Acquisition and Divestiture Process:

Uncertainty -

The projections as to the near- and medium-term future of oil and gas prices are mixed – to say the least. Irrespective of the direction prices ultimately go, industry is faced with significant uncertainty and companies in all industry sectors are evaluating their businesses and how they can best manage the uncertainty. Opportunities are surfacing for companies to strategically reposition themselves resulting in acquisition and divestiture activity. In this paper we consider special considerations when buying and selling assets of companies experiencing financial distress. We only address assets being divested outside of bankruptcy. Both the buyers and sellers will want to bring transactions to closing – understanding special issues will facilitate this mutual objective.