Bankruptcy & Restructuring in the Oil & Gas Industries in 2016 & Beyond
The rushing decline of commodity prices is persistently disrupting the oil and gas industry since last year. According to restructuring advisors, some broke U.S. oil and gas companies have considered various restructuring techniques to survive. However, many of these companies have failed to successfully navigate the restructuring options and have resorted to bankruptcy protection instead.
Owing more than $17 billion, a number of oil and gas producers have gone bankrupt last year and at least $70 billion of metal, energy and mining defaults is expected this year. As of February, six oil and gas producers have filed for bankruptcy and another surge of bankruptcies is almost certain as lenders recalculate the borrowing base of companies using oil and natural gas prices. The oil and gas industry will have to keep working through these financing restraints or to restructure through the bankruptcy process should the commodity prices remain low.
In this two-hour LIVE Webcast, a panel of key thought leaders assembled by The Knowledge Group will provide the audience with an in-depth analysis of the current trends and issues surrounding Bankruptcy & Restructuring in the Oil & Gas Sector in 2016 and Beyond.
Key topics include:
- Restructuring Strategies – Overview
- When to Declare Bankruptcy
- Notable Bankruptcy Filings
- Current Trends and Issues
- Oil and Gas Industry Forecast
- Best “Survival” Strategies
Paul B. Turner, Partner,
Reed Smith LLP
Matthew E. Tashman, Partner,
Reed Smith LLP
The State of the Industry in 2016
- Counterparty Warning Signs
- Safe-harbor Contracts
- Counterparty Credit Concerns
- My Counterparty filed! Now What?
- Key Issues and Pitfalls
Donald D. Allen, Counsel,
Markus Williams Young & Zimmermann LLC
- Field Service Provider Liens in Bankruptcy.
- Purchasing Oil and Gas Assets Out of Bankruptcy.
- Farm out Agreements Under the Bankruptcy Code.
Vince Slusher, Partner,
- Bankruptcy Primer
- Back to the Future
Who Should Attend:
- Risk Analysts & Controllers
- Financial Executives
- Compliance Officers
- Bankruptcy and Restructuring Lawyers/Practitioners
- Investment Advisers
- Investment Bankers
- Executive Directors
- Chief Risk Officers
- Business Consultants
- Business Analysts
- Other related Professionals
Vince Slusher has extensive experience representing large and mid-sized companies, both public and private, facing financial or regulatory crises.
Vince represents clients in myriad industries in complex bankruptcy and business or financial reorganization matters.
For 30 years, he has dedicated himself not only to the legal problems and issues facing his clients, but also to understanding their business needs and clients turn to him for this understanding. He has represented debtors, creditors, trustees, examiners, official and unofficial committees and secured and unsecured creditors in all types of bankruptcy proceedings and out-of-court reorganizations across the United States as well as abroad.
Vince has been engaged as counsel in numerous financial transactions in many industries, including oil and gas, manufacturing, agriculture, gaming and horse racing, hospitality, insurance, real estate, shipping and mining.
Vince Slusher has extensive experience representing large and mid-sized companies, both public and private, facing financial or regulatory crises. Vince …
Paul is a partner in the firm’s Energy & Natural Resources Group, where he focuses his practice on the fast-changing and evolving energy and commodity markets—principally related to the business of the physical and financial trading of energy commodities. He has been involved in the regulatory and commercial structuring and restructuring of the energy industry, including the ongoing seismic regulatory changes to the physical, futures and derivatives markets. He is an experienced and trusted advisor to energy clients – especially in these complex times – having twice been named Lawyer of the Year for Future and Derivatives Law (Houston) by America’s Best Lawyers® and in 2013 having been included by the Houston Business Journal in the Who’s Who in Energy Law list.
Paul has a keen understanding of the energy and commodity derivative markets, as well as the intricacies and nuances associated with bankruptcies and restructuring with such markets. Over the past several years, Paul has played a key role for clients in some of the largest energy and commodity company bankruptcies, including the bankruptcies of Lehman, The SemGroup, Enron, Mirant, Age Refining, EFH, James River Coal, MF Global, Patriot Coal, and NEGT Energy Trading (formally PG&E Energy Trading), among others.
Paul advises a variety of client types in the industry – major oil companies, hedge funds, independent trading and marketing companies, and banking clients – on structuring and documenting bespoke commodity transactions, developing client-preferred forms of industry contracts – EEI, ISDA, NAESB, LEAP --, negotiating commodity storage and marketing arrangements, advising on M&A transactions involving trading assets, portfolios and companies, setting up client compliance programs, and liquidating forward and financial positions. He has been principal counsel to several clients as they entered the US trading markets for energy commodities. Paul’s focus principally is on power, natural gas, crude, petroleum products, NGLs, and coal.
Paul is a partner in the firm’s Energy & Natural Resources Group, where he focuses his practice on the fast-changing …
Matt is a member of the Financial Industry Group, practicing in the area of Commercial Restructuring & Bankruptcy. Matt represents financial institutions in matters relating to business reorganization, loan restructuring, bankruptcy and commercial finance law. Additionally, Matt has provided financial restructuring and other strategic advice in many of Reed Smith's creditors committee representations. Matt appears regularly in bankruptcy courts in the Southern District of New York, the District of Delaware, the Eastern District of Pennsylvania and the District of New Jersey.
In his bank finance practice, Matt has been counsel to lenders and agent banks in the negotiation and documentation of commercial loan transactions, including senior and subordinated, secured and unsecured and asset-based credits. He has also represented various traditional and non-traditional lender entities in the purchase and sale of par and below-par loans.
Matt is a member of the Financial Industry Group, practicing in the area of Commercial Restructuring & Bankruptcy. Matt represents …
Donald D. Allen has more than 30 years of experience in representing secured creditors, asset-purchasers and debtors in bankruptcy cases. Mr. Allen is a contributing editor to the ABI publication “When Gushers Go Dry – The Essentials of Oil and Gas Bankruptcy”. In 2015, he moderated the Energy Panel at the Rocky Mountain ABI Conference. In 2014 he was a featured speaker at the Colorado Business Law Institute concerning oil and gas bankruptcy cases. Mr. Allen is a business bankruptcy specialist certified by the American Board of Certification. He has been named a “Colorado Super Lawyer” in Bankruptcy Practice every year from 2010 through 2016. Mr. Allen received his B.A. from the University of Colorado at Boulder and his J.D. from the University of Santa Clara School of Law, where he served on the Board of Editors of the Santa Clara Law Review.
Donald D. Allen has more than 30 years of experience in representing secured creditors, asset-purchasers and debtors in bankruptcy cases. …
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About DLA Piper
DLA Piper is a global law firm with lawyers located in more than 30 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help companies with their legal needs anywhere in the world. We strive to be the leading global business law firm by delivering quality and value to our clients. We achieve this through practical and innovative legal solutions that help our clients succeed. We deliver consistent services across our platform of practices and sectors in all matters we undertake. For additional information, go to dlapiper.com.
About Reed Smith LLP
Reed Smith is a global relationship law firm with more than 1,800 lawyers in 26 offices throughout the United States, Europe, Asia and the Middle East. Founded in 1877, the firm represents leading international businesses, from Fortune 100 corporations to mid-market and emerging enterprises.
With more than 80 energy and insolvency professionals, Reed Smith has one of the largest and most experienced teams of lawyers advising clients in the energy and natural resources sector generally, and in the coal, crude oil, refined products, power and natural gas industries, in particular. We are ideally positioned to guide clients – whether industry participants, lenders, or would-be buyers of assets or equities – through national and cross-border insolvency matters impacting the energy industry, and our lawyers regularly work together across jurisdictions to bring a client-focused, seamless team approach.
About Markus Williams Young & Zimmermann LLC
Markus Williams Young & Zimmermann LLC is recognized as one of the premier financial institutions and bankruptcy and insolvency firms in the Rocky Mountain area. We have been named to U.S. News - Best Lawyers® "Best Law Firms" list with a Tier 1 rating in both Colorado and Utah. We have also been named by Martindale-Hubbell as a Top Ranked Law Firm, which is a distinction awarded to firms based on at least one third of their attorneys achieving the AV Preeminent Rating. We are proud that nearly half of our attorneys have achieved that rating with a perfect 5.0 out of 5.0 on the scale.
The firm provides creative and pragmatic solutions to the needs of its clients by combining significant business experience with a comprehensive knowledge of secured transactions, creditors’ rights, workouts, restructurings, receiverships, assignments for the benefit of creditors, asset sales and purchases, commercial litigation, and bankruptcy and insolvency law.
We offer our clients the quality, sophistication and experience of a large firm with the attentiveness and cost-effectiveness of a legal boutique. Our attorneys are not only experts in their fields, but also serve as officers, program presenters, and active participants in many practice related professional associations, keeping them on top of the latest “best practices” and regulatory developments.