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Bankruptcy & Restructuring in the Oil & Gas CLE/CPE CLE

Bankruptcy & Restructuring in the Oil & Gas Sector

Live Webcast Date: Friday, February 19, 2016 at 12:00 pm - 2:00 pm (ET)
Tax, Accounting and FinanceRecording

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Join us for this Knowledge Group Bankruptcy & Restructuring in the Oil & Gas CLE/CPE Webinar. "Oil and gas financing is a world of its own," said by the Tenth Circuit Court of Appeals more than 50 years ago. This assertion appears to be true, especially these days as the oil and gas industry face challenges unique to them.

In 2015, significant concerns about a crash in the oil and gas industry and the economies that depend on it have been raised as oil prices declined from more than $100 per barrel to around $50 per barrel. This is largely caused by continuous increase in oil production even with the crisis of increasing global energy costs and the movement towards energy independence.

While some producers may be able to survive the challenge, the unique nature of the oil and gas industry will make those companies vulnerable to an uncertain future. The recent wave of Chapter 11 filing is just the beginning.

Some states value oil and gas production as property rights while others considered it as a "true" lease creating contractual rights. The distinction may be critical to the ability of the producer to refuse or allocate the production's nature of interests. Additionally, joint-operating agreements or "farmouts" meant to hedge risk to operators and complicate property rights. These factors, including issues on recording liens and the impact of unrecorded interests, and the use and protection from avoidance actions on oil and gas transactions must be considered in the context of restructuring.

Although this massive decline in energy prices may be beneficial to consumers as well as debt and bargain investors, producers are, however, drawn to weather this devastating economic storm. It must also be noted that the distress in oil and gas industry being experienced by companies is the only start of a domino effect which will fall in a wide range of services and industries.

In this two-hour Webcast, a panel of key thought leaders assembled by The Knowledge Group will provide the audience with an in-depth analysis of the current issues surrounding Bankruptcy & Restructuring in the Oil & Gas Sector.

Key issues that will be covered in this course are:

  • Overview of the Issues in Oil and Gas Bankruptcy
  • Heading towards Chapter 11 Bankruptcy
  • Oil and Gas Production Under Varied State Laws
  • Distressed Investing Opportunities in Oil and Gas Companies
  • Restructuring in the Oil and Gas Business

Who Should Attend

  • Risk Analysts & Controllers
  • Financial Executives
  • Compliance Officers
  • Bankruptcy and Restructuring Lawyers/Practitioners
  • Investment Advisers
  • Investment Bankers
  • Investors
  • Executive Directors
  • Chief Risk Officers
  • Business Consultants
  • Business Analysts
  • Other related Professionals

Faculty

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE
Vincent Slusher
Partner
DLA Piper LLP (US)
Bankruptcy & Restructuring in the Oil & Gas CLE/CPE
Ali Mojdehi
Partner
Cooley LLP
Bankruptcy & Restructuring in the Oil & Gas CLE/CPE
Ryan S. Bouley
Managing Director
Opportune LLP
Bankruptcy & Restructuring in the Oil & Gas CLE/CPE
Camisha L. Simmons
Managing Member
Simmons Legal PLLC

Click Here to Read Additional Material

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

SEGMENT 1: 
Ryan S. BouleyManaging Director
Opportune LLP

  • Financial and restructuring advisor
  • Plunging prices and factors causing them – market factors in past year
  • Economic context

SEGMENT 2: 
Ali MojdehiPartner
Cooley LLP

  • Common capital structure that exists in these cases
  • Various levels of debt
  • Various disputes that emanate from capital structure - particularly the question of the breadth of the loans, lien rights and priorities, how financings work, who’s at top-who’s at bottom

SEGMENT 3: 
Camisha L. SimmonsManaging Member
Simmons Legal PLLC

  • Termination of oil & gas leases for failure to produce in paying quantities
  • Treatment/characterization of oil & gas lease interests in bankruptcy and the implications of the same
  • Royalty disputes, overrides
  • Preferential transfer avoidance action exposure with respect to contractors who are entitled to assert statutory liens against debtor’s assets
  • Farm out agreements

SEGMENT 4: 
Vincent SlusherPartner
DLA Piper LLP (US)

  • Problematic issues in getting plans approved – legacy liability and P&A problems
  • Inventories of obsolete assets
  • Prospective P&A liabilities

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Vincent SlusherPartnerDLA Piper LLP (US)

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.

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Ali MojdehiPartnerCooley LLP

Ali M.M. Mojdehi is a financial restructuring partner for Cooley and has varied and extensive experience nationwide representing debtors-in-possession, trustees, creditors, statutory creditor and equityholder committees, bondholders, financial institutions, and third-party purchasers of distressed assets, across a wide array of industries including oil and gas, energy, real estate, construction, hospitality, telecommunications, retail, manufacturing, transportation, financial services and information technology. 

Ali was named in the 2014 and 2015 Chambers USA editions as a leader in Bankruptcy & Restructuring.  He was also presented with the 2014 Ellis Island Medal of Honor. The Medal of Honor is presented to American citizens who have distinguished themselves within their own ethnic groups while exemplifying the values of the American way of life.  Ali earned his J.D. from the University of Tulsa and received his B.A. from the College of William and Mary.

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Ryan S. BouleyManaging DirectorOpportune LLP

Ryan is a Managing Director in the Restructuring practice of Opportune and is based in New York.  He focuses on financial and operational restructuring, and has significant experience in reorganization plan development, negotiation and implementation, corporate recapitalizations, distressed valuation, effecting amendments and waivers, capital raising, distressed M&A, liquidity management, business plan development and review, and litigation support.  Ryan has advised debtors, creditors, and equity holders on restructurings and special situations – both in – and out-of-court – with liabilities totaling in excess of $20.0 billion.  Prior to joining Opportune, Ryan was a vice president in the restructuring group at Duff & Phelps Securities (f/k/a Chanin Capital Partners).  Before that, he worked at Panagos Katz Situational Investing – a special situations fund – and began his career in the leveraged finance group at J.P. Morgan. Ryan received a B.A., magna cum laude, in International Relations and Economics from Tufts University and a J.D. from Wake Forest University School of Law.  He holds the Financial Industry Regulatory Authority (“FINRA”) Series 63 and 79 licenses.

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Camisha L. SimmonsManaging MemberSimmons Legal PLLC

Camisha L. Simmons is the founder and managing member of the law firm Simmons Legal PLLC.  She founded the firm after practicing in New York and Dallas for close to 8 years as an associate attorney for the global law firms of Weil, Gotshal & Manges LLP, DLA Piper and Norton Rose Fulbright.

She has extensive experience representing companies in chapter 11 bankruptcy proceedings and related litigation and restructuring matters.

She serves as an Affiliate Professor of Law at the University of North Texas College of Law.  She also is a frequent author and speaker on various bankruptcy, finance and litigation topics. 

From 2006-2007, Ms. Simmons was a law clerk to the Honorable Mary F. Walrath, Judge of the United States Bankruptcy Court, District of Delaware.

She served on active duty in the United States Army from 1999 to 2003.

Bankruptcy & Restructuring in the Oil & Gas CLE/CPE

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   NONE

Course Code:
   145165

NASBA Field of Study:
   Business Law

NY Category of CLE Credit:
   Areas of Professional Practice

Total Credits:
   2.0 CLE

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About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

About the Knowledge Group

The Knowledge Group

The Knowledge Group has been a leading global provider of Continuing Education (CLE, CPE) for over 13 Years. We produce over 450 LIVE webcasts annually and have a catalog of over 4,000 on-demand courses.

DLA Piper is a global law firm with lawyers in the Americas, Asia Pacific, Europe, Africa and the Middle East, positioning us to help companies with their legal needs around 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 www.dlapiper.com.

Website: https://www.dlapiper.com/

Cooley's Corporate Restructuring & Bankruptcy practice group is an experienced team that possesses a deep understanding of bankruptcy principles and law, outstanding litigation and corporate drafting ability and solid business sense. The team is a recognized leader, playing key roles in some of the most complex and high-profile bankruptcy and restructuring cases throughout the U.S., UK and other countries.

Cooley lawyers are well-known for our extensive experience representing creditors committees, debtors, equity committees, mechanics lienholder committees, shareholder committees, and employee and retiree committees in chapter 11 proceedings, out-of-court restructurings, restructuring and company dissolution, credit finance and distressed mergers & acquisitions.  We represent a range of clients across a wide array of industries.

Cooley attorneys have played a significant role in some of the largest bankruptcy and out-of-court restructuring cases, including RadioShack, Metromedia Fiber Network, Enron, Lehman Brothers, Adelphia, Montgomery Ward, Skymall, Athlete's Foot, Pacific Gas & Electric Company, United Airlines, Blockbuster, CompUSA, Pizzeria Uno, Johns-Manville, Thrifty Drugs, UPC Polska, Asyst Technologies, Inc. and the Baptist Foundation of Arizona, Inc.

Website: https://www.cooley.com/index.aspx

Opportune LLP is a leading international energy consulting firm specializing in assisting clients across the energy industry, including upstream, midstream, downstream, power, commodities trading and oilfield services. Opportune’s service lines include: chemical engineering, complex financial reporting, corporate finance, dispute resolution, enterprise risk, outsourcing, process and technology, reserve engineering and geosciences, restructuring, strategy and organization, and tax.  For more information on Opportune LLP, please visit our website at www.opportune.com

Website: https://opportune.com/

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