Dealing With Counterparty/Bankruptcy Risk in the Upstream Oil and Gas Industry

Presented by the IEL Oil & Gas Commitee

in Houston, Texas, USA

Downtown Club
1100 Caroline Street
Houston, TX 77002
Start time: 7:30 am

Walk-in registration will be available at the door. 

Past Event

Credits:MCLE Credit will be available

Overview

Breakfast CLE presented by the IEL Oil & Gas Committee

  • Start time: 7:30 am
  • CLE presentation: 8:00 am - 9:30 am

Tuition

  • $25 - Regular Registration Fee
  • $0 - IEL Member (Advisory Board Member, Young Energy Professional Member or Supporting or Sustaining Member Employee)

Speakers

  • Monica S. Blacker and Bruce J. Ruzinsky
    Jackson Walker, L.L.P.
  • Tye C. Hancock and Mitchell E. Ayer
    Thompson & Knight LLP

Download Bios

Texas CLE Credit

This program is approved by the State Bar of Texas for 1.5 hours, no ethics. Course ID Number: 901316426. A sign-in sheet will be available at registration.

Topics

  • Practices for Reducing Counterparty Risk (Pre-bankruptcy planning)
    • Perfecting Rights Relating to Oil and Gas Leases, JOAs
      - Operators’ Liens
      - Non-operators’ Liens
      - Protecting non-consent rights/penalties
    • Analyzing Rights Under JOAs or Other Operative Agreements
    • Obtaining and Recording Assignments of Interest, Related Issues
    • Other Credit Protections / Financial Accommodations
    • Producer’s Lien Statutes – Possible Traps
    • Dealing with Insolvent Contractors – Oil Well Lien Statutes
    • Preference Concerns in Connection with Perfecting Rights
    • Special Protections/ Safe Harbors – Farmouts, Forward Contracts, Production Payments
    • Risks Relating to Dealing with Insolvent Sellers, Purchase and Sale Agreements, Avoidance Risk
  • Post-bankruptcy Basics
    • Creditor (Secured or Unsecured) or Owner? Bankruptcy Priorities
    • Reclamation Rights and 503(b) Claims
    • Automatic Stay
      - Property of the Estate
      - Actions Stayed, Actions Not Stayed
    • Usage of Cash Collateral, DIP Financing
    • Executory Contracts/Leases
      - Character of Oil and Gas Leases
      - JOAs
      - Assumption/Rejection, Timing, Twilight Period
    • Proofs of Claim
      - Who must file claims/review of schedules
      - Claim Objections
    • Other Basic Bankruptcy Issues
      - Avoidance Actions
      - Assets Sales
      - Plan & Disclosure Statements

Other Information

Nondiscriminatory Policy

The Center for American and International Law does not discriminate on the basis of race, color, sex, religion, national origin, age, disability, veteran status or any other protected status in educational activities, scholarship programs or admissions.

Registrar: +1.972.244.3404
IEL: +1.972.244.3424
Fax: +1.972.244.3401
E-Mail: iel@cailaw.org