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Energy Sector Bankruptcy Court Chapter 11

Newburn Law

The Death of the Acreage Dedication?

Newburn Law on

Acreage dedications in midstream oil and gas contracts have been subject to considerable scrutiny and legal debate in recent years. This article provides an overview of the current state of acreage dedications, examining key...more

Jones Day

Energy Sector Update: More Bankruptcy Courts Join the Fray in Dispute Over Rejection of Gas Gathering Agreements

Jones Day on

In a leading precedent handed down in 2018—Sabine Oil & Gas Corp. v. Nordheim Eagle Ford Gathering, LLC (In re Sabine Oil & Gas Corp.), 734 Fed. Appx. 64 (2d Cir. May 25, 2018)—the U.S. Court of Appeals for the Second Circuit...more

A&O Shearman

Additional Guidance for Drafting Dedications: Delaware Bankruptcy Court Rejects Southland Dedication

A&O Shearman on

The oil and gas industry in the United States is highly dependent upon an intricate set of agreements that allow oil and gas to be gathered from privately owned land. Historically, the dedication language in oil and gas...more

McGuireWoods LLP

New Bankruptcy Ruling Could Impact Future Midstream Contracts

McGuireWoods LLP on

On Oct. 28, 2020, the U.S. Bankruptcy Court for the Southern District of Texas delivered a key ruling affecting: (1) purchase and sale agreements for produced gas and severed minerals; and (2) agreements with “exclusive...more

Opportune LLP

Key Themes Gleaned From Recent Oil & Gas Bankruptcy Exit Financings, Lender Requirements

Opportune LLP on

As upstream oil and gas companies emerge from Chapter 11 bankruptcies, they’ll need to be mindful of exit credit facility terms and requirements that may reflect a shift from their prior experience and will likely affect...more

Holland & Knight LLP

U.S. Court of Appeals Holds That Climate Change Tort Claims are Dischargeable in Bankruptcy

Holland & Knight LLP on

On May 6, 2020, in the case of In re Peabody Energy Corporation, 958 F.3d 717 (8th Cir.), the U.S. Court of Appeals for the Eighth Circuit held, in an apparent case of first impression, that state statutory and common-law...more

Jones Day

Oil and Gas Industry Update - Sabine Oil Not the Last Word on Treatment of Gathering Agreements in Bankruptcy

Jones Day on

In a leading precedent handed down in 2018—Sabine Oil & Gas Corp. v. Nordheim Eagle Ford Gathering, LLC (In re Sabine Oil & Gas Corp.), 734 Fed. Appx. 64 (2d Cir. May 25, 2018)—the U.S. Court of Appeals for the Second Circuit...more

King & Spalding

Bankruptcy Court Rules that Dedications Within Gathering Agreements "Run with the Land”

King & Spalding on

On December 20, 2019, the Bankruptcy Court for the Southern District of Texas in Alta Mesa Holdings, LP v. Kingfisher Midstream, LLC (In re Alta Mesa Resources, Inc.) held that dedications in gathering agreements create...more

Akin Gump Strauss Hauer & Feld LLP

Rundown of Recent Developments in Covenant Running with the Land Tension

Concerns Raised by Sabine - The seminal decisions in Sabine Oil & Gas Corp. v. Nordheim Eagle Ford Gathering, LLC provided guidance on whether midstream and transportation providers can rely on the contractual dedications...more

Jackson Walker

Major Decision in Energy-Related Bankruptcies: Colorado Court in Monarch Midstream Case Departs from Sabine Oil and Finds...

Jackson Walker on

A Colorado bankruptcy court has departed from the widely reported holding in Sabine Oil that permitted a debtor to reject a certain midstream gathering agreement. On September 30, 2019, the United States Bankruptcy Court for...more

Cadwalader, Wickersham & Taft LLP

The Same, Only Better: Eighth Circuit Affirms Peabody Chapter 11 Plan Backstopped Rights Offering Despite Alleged Disparate...

On August 9, 2019, in a unanimous decision (written by a former bankruptcy judge), the Eighth Circuit Court of Appeals affirmed the confirmation of the Peabody Energy Chapter 11 plan (“Plan”) with a prominent backstopped...more

A&O Shearman

Delaware Bankruptcy Court Invalidates on Public Policy Grounds a “Golden Share” Provision in LLC Agreement Designed to Limit LLC’s...

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In a June 3, 2016 decision, the United States Bankruptcy Court for the District of Delaware (“the Bankruptcy Court”) invalidated, on federal public policy grounds, a provision in the debtor-LLC’s operating agreement that it...more

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