In Federal Energy Regulatory Commission v. Ultra Resources, Inc. (In re Ultra Petroleum Corp.),1 a panel of the Fifth Circuit Court of Appeals (the “Fifth Circuit Panel”) provided valuable clarity regarding a 2004 decision in...more
3/31/2022
/ Bankruptcy Code ,
Breach of Contract ,
Chapter 11 ,
Debtors ,
FERC ,
Natural Gas ,
Natural Gas Act ,
Oil & Gas ,
Pipelines ,
Public Interest ,
Transportation Industry
It is common for E&P companies in chapter 11 to seek to reject burdensome midstream contracts under Bankruptcy Code § 365. Rejection has not been permitted by bankruptcy courts where such agreements create enforceable...more
On June 22, 2020, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued an order concluding that the Commission and the United States Bankruptcy Courts have concurrent jurisdiction to review and address the...more