News & Analysis as of

Energy Sector Chapter 11

Jones Day

Secured Lenders Win Victory in Sanchez Bankruptcy

Jones Day on

The Ad Hoc Group of Senior Secured Noteholders and DIP Lenders (the "Ad Hoc Group") obtained a unanimous judgment in their favor in an appeal following Sanchez Energy Company's long-running, hard-fought bankruptcy case. Once...more

Holland & Knight LLP

Distressed Investing in Energy: Strategies and Risks in a Nutshell

Holland & Knight LLP on

From a U.S. bankruptcy perspective, distressed debt investing is often based on two fundamental principles in the bankruptcy system: 1) a secured creditor is entitled to the value of its collateral in a given bankruptcy case...more

Dorsey & Whitney LLP

Energy Law: Month in Review - May 2024

Dorsey & Whitney LLP on

Welcome to Dorsey’s Energy Law: Month in Review. We provide this update to our clients to identify significant developments in the previous month. ...more

Opportune LLP

Distressed Debt Risks & Opportunities Unveiled

Opportune LLP on

In finance, navigating the terrain of distressed debt requires a keen understanding of its opportunities and risks. For financial institutions, investors, and legal advisors alike, delving into distressed debt can be both...more

Jones Day

Fifth Circuit Triples Down: Filed-Rate Natural Gas and Power Contracts Can Be Rejected in Bankruptcy Without FERC Approval

Jones Day on

In Gulfport Energy Corp. v. FERC, 41 F.4th 667 (5th Cir. 2022), the U.S. Court of Appeals for the Fifth Circuit tripled down on its nearly two-decades-long view that filed-rate contracts regulated under the National Gas Act...more

Hogan Lovells

Fifth Circuit doubles down on right to reject filed-rate contracts, but with an exception

Hogan Lovells on

The Fifth Circuit recently issued an opinion, Federal Energy Regulatory Commission v. Ultra Resources, Inc., in which it relied on and affirmed its prior 2004 decision — In re Mirant — and held that bankruptcy courts have the...more

Akin Gump Strauss Hauer & Feld LLP

Make (Whole) A Minute: Brazos Bankruptcy Update

Beginning on February 13, 2021, something unprecedented happened in the state of Texas—a winter storm caused temperatures to dip well-below freezing. This event, dubbed the “Black Swan Winter Event,” caused Texas to...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

Vinson & Elkins LLP

In re Chesapeake Energy Corporation And In re Extraction Oil & Gas, Inc.: New Rulings Against Midstream Gatherers Further Dividing...

Vinson & Elkins LLP on

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

Troutman Pepper Locke

Ninth Circuit Vacates FERC and Bankruptcy Court Orders, Avoiding Jurisdictional Dispute Over PPAs in Bankruptcy

Troutman Pepper Locke on

On October 7, 2020, the United States Court of Appeals for the Ninth Circuit (“Ninth Circuit”) vacated, as moot, two FERC orders asserting concurrent jurisdiction to review the disposition of certain Pacific Gas & Electric...more

Epiq

The Pandemic Strikes Again: Energy Sector Bankruptcies Rise

Epiq on

While the airline industry has benefited from a special federal stimulus loan package tied to the impact of COVID-19, the energy industry has not been as fortunate to date. Many energy companies were distressed before the...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

Shumaker, Loop & Kendrick, LLP

Client Alert: Chapter 11 Filings Surge: Winning Solutions for Suppliers in a Zero-Sum Game

According to the American Bankruptcy Institute, 3,600 companies filed Chapter 11 in the first half of 2020. Chapter 11 filings for 2020 are on pace to eclipse any year since 2012. During the same period, businesses worldwide...more

Spilman Thomas & Battle, PLLC

Currents - Energy Industry Insights: Issue 33, August 2020

Environmental, Tribal Groups Sue to Block Alaska Refuge Drilling - "More than a dozen environmental groups and one representing northeast Alaskan tribal villages sued the Trump administration over a plan to open the...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

Farella Braun + Martel LLP

[Webinar] Unplugged Renewable Energy Series - PG&E Bankruptcy: Lessons Learned and a Path Forward - August 4th, 5:00 pm - 7:00 pm...

The California power giant, PG&E, has emerged from the country’s largest utility bankruptcy proceeding as a dramatically different company. Not only has PG&E exited Chapter 11, it has completed a restructuring that will have...more

Flaster Greenberg PC

Marcellus Shale Update: Chesapeake Energy Goes Bankrupt, Will It Spur The Industry To Police Its Own?

Flaster Greenberg PC on

Earlier in June, while trying to locate the successor to a longtime employee at Chesapeake Energy on behalf of a client, I asked a friend at another energy company if he knew whom I should contact. “I don’t know,” he...more

White & Case LLP

Oil & gas industry feels financing squeeze

White & Case LLP on

Low prices and excess supply have pushed oil & gas balance sheets to the brink, which means raising traditional debt will remain difficult and restructurings are expected - High yield and leveraged loan values for the...more

Farella Braun + Martel LLP

Batteries, Bankruptcies and the Future of Renewable Energy

The Growth of Renewable Energy - Renewable energy sources have been rapidly deployed across the nation for more than a decade. In addition to government mandates in California and other states promoting renewable energy,...more

Opportune LLP

Creditor Income Tax Considerations in the Form of Ownership for Upstream Oil & Gas Investors

Opportune LLP on

Find out why upstream oil and gas investors should take into account income tax considerations during and after a restructuring event.  ...more

Hogan Lovells

[Webinar] Things you should know: Mexican insolvency proceedings and their recognition in the U.S. - June 10th, 12:00 pm - 1:00 pm...

Hogan Lovells on

Join Hogan Lovells Finance and Litigation and Employment practice groups on Wednesday, 10 June for a webinar on Mexican insolvency proceedings. Program topics will include: - Automatic stay and provisional relief. -...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

53 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide