The regulatory seascape for financial assurance related to offshore oil and gas production and decommissioning in federal waters has come in waves over the past decade, and like waves, the regulations often build momentum...more
The Bureau of Ocean Energy Management (“BOEM”) along with the Bureau of Safety and Environmental Enforcement (“BSEE”) recently proposed changes to “modernize” financial assurance requirements for the offshore oil and gas...more
- Current Climate: Discussion of the current restructuring environment.?
- Tactical Considerations: The pros and cons of purchasing through bankruptcy and the differences between jurisdictions.?
- Process Questions:...more
On December 20, 2019, Judge Marvin Isgur of the United States Bankruptcy Court for the Southern District of Texas became the second court this year to limit the reasoning of In re Sabine Oil & Gas Corp., 550 B.R. 59 (Bankr....more
The U.S. District Court for the Eastern District of Louisiana dismissed a Chapter 7 bankruptcy trustee’s claims against officers and inside directors of ATP Oil & Gas Corporation in Tow v. Bulmahn on Wednesday.
In Tow v....more
With U.S. oil and gas prices dipping low over the past year and a half, a large number of companies have declared bankruptcy. In the next year and a half, it is forecasted that more companies who are limping along, may seek...more
On July 15, 2016, the United States Department of the Interior Bureau of Ocean Energy Management (BOEM) issued a new Notice to Lessees and Operators (NTL) dramatically changing the way in which BOEM will evaluate the...more
Please join Locke Lord for a complimentary CLE seminar on current issues affecting the energy ?sector. By leveraging the extensive experience our lawyers bring to the table from the energy ?and restructuring & insolvency, we...more
A long-honored concept in real property, that of “covenants running with the land,” is finding its way into the bankruptcy courts. If a covenant (a promise) runs with the land then it burdens or benefits particular real...more
We are often asked what to do if you have an operating agreement and your operator or one of the other working interest owners files for bankruptcy. The Bankruptcy Code allows the debtor to assume or reject the JOA (it is...more