News & Analysis as of

Chapter 11 Liens Oil & Gas

Holland & Knight LLP

Oil and Gas Counterparty Risk: Dealing with Statutory Mineral Liens

Holland & Knight LLP on

The legal frameworks governing statutory lien rights of oil and gas trade creditors vary significantly between Texas and Louisiana (as well as among other hydrocarbon-producing states). Material distinctions exist between...more

Gray Reed

Red River Statutory Rivalry: Texas Lien Statute is Fatal to Texas Producers’ Security Interests

Gray Reed on

The lesson from In re First River Energy LLC:  Even though Texas lien law does not require the filing of a financing statement for perfection, file one anyway. It will be helpful in the event a dispute is decided under the...more

Jones Day

A Lesson in DIP Financing Due Diligence

Jones Day on

The Bankruptcy Code contains an array of provisions designed to encourage lenders to provide debtor-in-possession ("DIP") financing in chapter 11 cases, including authorization of "superpriority" administrative expense claims...more

King & Spalding

Fifth Circuit Issues Decision Concerning Overriding Royalty Interests and Louisiana Oil Well Lien Act Claims

King & Spalding on

The ATP Oil & Gas Corporation bankruptcy case (Case No. 4:12-bk-36187, S.D. Texas) (“ATP”) involved the intersection of energy and bankruptcy law on a variety of issues. Most recently, the Fifth Circuit Court of Appeals...more

Cadwalader, Wickersham & Taft LLP

Buyer (and its Creditors) Beware: SemCrude District Court Finds That Purchasers Took Oil and Gas Free and Clear of Producers'...

Although almost eight years have lapsed since the chapter 11 cases of Tulsa, Oklahoma-based SemCrude L.P. were confirmed, many of the issues at the forefront of those cases are re-emerging in light of the recent uptick in oil...more

Gray Reed

Weathering The Storm Of An Owner Or General Contractor Bankruptcy

Gray Reed on

Bankruptcy court is often the “court of bad news” for creditors. ...more

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