Morgan Lewis Seminars

What Issues Arise When an E&P Company Files for Bankruptcy?

Thursday, March 5, 2015
11:30 AM - 01:00 PM Central Standard Time

With oil prices having declined more than 50% since June 2014, exploration and production (E&P) companies could face significant liquidity crises in the near future, leading to bankruptcy filings for some upstream market participants. Such filings will have ripple effects on joint venture partners, investors, and service providers.

Join us for a 90-minute lunch presentation as our panel of energy, bankruptcy, and restructuring lawyers draw on their recent experience to discuss issues likely to arise when an E&P company files for bankruptcy, including specific lessons learned from the ATP Oil & Gas case. Topics will include:

  • The impact of bankruptcy filings on co-owners (both operators and non-operators) and other counterparties to executory contracts
  • Treatment of royalty, overriding royalty, and net profits interests in bankruptcy
  • Treatment of joint operating agreement security interests in bankruptcy
  • Issues concerning M&M liens in bankruptcy and their impact on debtors, investors, joint venture partners, and other lien holders
  • Planning for and mitigating the risk associated with bankruptcy filings by contract counterparties

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