Like the wild prairie rose that punctuates the North Dakota plains, the issue of whether a debtor can reject its midstream agreements is back after a brief period of dormancy. In Hot Topics in Oil and Gas Restructurings,...more
Apache Corp., a Houston-based oil and gas exploration company, recently announced a discovery that some in the oil and gas industry are dubbing a potential find of historic magnitudes. Last week, Apache’s chief executive...more
Reuters recently reported that “the rout in crude prices is snowballing into one of the biggest avalanches in the history of corporate America, with 59 oil and gas companies now bankrupt[.]” In March, we described how surging...more
“The carnage is going to be terrible,” cried a recent Dallas Morning News headline. “It’s a hellacious problem,” lamented another article. It’s no secret the energy sector has come upon hard times. Oil prices are down 70...more
3/11/2016
/ Bankruptcy Code ,
Commercial Bankruptcy ,
Contract Terms ,
Covenants that Run With the Land ,
Creditors ,
Debtors ,
Energy Sector ,
Fracking ,
Oil & Gas ,
Pipelines ,
Section 365
In 2015, the energy sector accounted for more than one-half of all public company bankruptcy filings, including eight of the 10 largest filings. Current oil prices and bond values indicate that 2016 will be another active...more