HomeWebcastOil and Gas Restructuring: Practical Tips and Strategies in 2017
Online CLE Oil Gas CLE

Oil and Gas Restructuring: Practical Tips and Strategies in 2017

Live Webcast Date: Monday, July 31, 2017 from 3:00 pm to 5:00 pm (ET)
CLE Bankruptcy LawRecording

Online CLE Oil Gas

Join us for this Knowledge Group Online CLE Oil Gas Webinar. Following the dramatic declines in oil and gas prices, the industry has witnessed how exploration and production (E&P) companies greatly relied on restructurings to cope up with their financial distress. It is no secret that the rapid and severe declines have posed significant challenges and profound implications on the oil and gas industry. Considering the high fixed costs and companies' heavy debt loads, many industry observers are anticipating for the continued uptick of oil and gas restructurings.

In this Webcast, a panel of distinguished professionals and thought leaders organized by The Knowledge Group will provide the audience with an overview of the latest trends; critical issues and best practices with respect to Oil and Gas Restructuring. Speakers will also offer practical tips and strategies to maximize opportunities and overcome potential challenges and risks.

Some of the major topics that will be covered in this course are:

  • Review of the Decline Map
  • Implications on the Oil and Gas Industry
  • Oil and Gas Restructuring
  • Challenges and Opportunities
  • Recent Trends and Critical Restructuring Issues
  • Regulatory Compliance
  • Best Strategies and Practice

Agenda

SEGMENT 1:
Timothy HynesHead of Research
Debtwire

  • Entering Chapter 11 with or without a pre-arranged plan
  • Rights Offerings Risks and rewards
  • Assessing leverage levels upon exit from Chapter 11

SEGMENT 2:
Shane G. Ramsey
Partner
Nelson Mullins Riley & Scarborough LLP

MIDSTREAM CONTRACT ISSUES

  • Introduction
  • Gathering Agreements – Main Features
  • Marketing Contracts
  • Purpose and Extent of Dedication
  • Commitment/Dedication

Relevant Features of Midstream Contracts

  • Why Is There Uncertainty on This Issue?
  • Texas Law on Covenants Running with the Land
  • Circumstances Affecting the Analysis

The State of the Law Before Sabine

  • The Energytec Case
  • The Sabine Case

Forthcoming Decisions

Rejection Risks

Commercial Considerations

SEGMENT 3:
John H. ThompsonPartner
McGuireWoods LLP

  • Farmout Agreements
  • Joint Operating Agreements (JOAs)
  • Joint Ventures

SEGMENT 4:
Aaron M. KibbeyManaging Director
Huron Consulting Group

  • The importance of valuation in oil & gas restructurings
  • Why stakeholders should not solely rely on a Net Asset Value analysis
  • Using both an Income Approach and a Market Approach
  • Limitations / pitfalls inherent with a Net Asset Value analysis
  • Limitations with other analysis methods

Who Should Attend

  • Bankruptcy and Restructuring Practicing Lawyers and Practitioners
  • Oil and Gas Investors
  • Directors and Executives from Energy Sectors
  • Risk Analysts & Controllers
  • Financial Executives
  • Compliance Officers
  • Investment Advisers
  • Investment Bankers
  • Investors
  • Chief Risk Officers
  • Business Analysts

Online CLE Oil Gas

SEGMENT 1:
Timothy HynesHead of Research
Debtwire

  • Entering Chapter 11 with or without a pre-arranged plan
  • Rights Offerings Risks and rewards
  • Assessing leverage levels upon exit from Chapter 11

SEGMENT 2:
Shane G. Ramsey
Partner
Nelson Mullins Riley & Scarborough LLP

MIDSTREAM CONTRACT ISSUES

  • Introduction
  • Gathering Agreements – Main Features
  • Marketing Contracts
  • Purpose and Extent of Dedication
  • Commitment/Dedication

Relevant Features of Midstream Contracts

  • Why Is There Uncertainty on This Issue?
  • Texas Law on Covenants Running with the Land
  • Circumstances Affecting the Analysis

The State of the Law Before Sabine

  • The Energytec Case
  • The Sabine Case

Forthcoming Decisions

Rejection Risks

Commercial Considerations

SEGMENT 3:
John H. ThompsonPartner
McGuireWoods LLP

  • Farmout Agreements
  • Joint Operating Agreements (JOAs)
  • Joint Ventures

SEGMENT 4:
Aaron M. KibbeyManaging Director
Huron Consulting Group

  • The importance of valuation in oil & gas restructurings
  • Why stakeholders should not solely rely on a Net Asset Value analysis
  • Using both an Income Approach and a Market Approach
  • Limitations / pitfalls inherent with a Net Asset Value analysis
  • Limitations with other analysis methods

Online CLE Oil Gas

Online CLE Oil Gas

Shane G. RamseyPartnerNelson Mullins Riley & Scarborough LLP

Shane Ramsey is the Vice Chair of the Nelson Mullins Riley & Scarborough LLP Bankruptcy and Financial Restructuring Practice Group. Mr. Ramsey regularly represents committees of unsecured creditors, indenture trustees, secured creditors, unsecured creditors, bondholders, noteholders, liquidation trustees, plan administrators, disbursing agents, and other entities in bankruptcy reorganizations, liquidation proceedings, and bankruptcy related litigation.

Mr. Ramsey also has experience handling complex civil litigation matters in both state and federal courts and in alternative dispute resolution settings, including arbitration and mediation. His business litigation experience includes contract disputes, business torts, breach of fiduciary duties, officer and director liabilities, and other general litigation matters. 

Online CLE Oil Gas

John H. ThompsonPartnerMcGuireWoods LLP

John's practice focuses on complex Chapter 11 cases and debtor and creditor rights. He handles business reorganizations and cross-border insolvency matters, and has extensive experience representing debtors, creditors, acquirers, landlords and equity holders, both in and out of court, across a broad range of industries.

Over the course of his career, John served as a key team member in the representation of numerous high-profile Chapter 11 debtors, including Enron, Worldcom, Northwest and LyondellBasell. In addition, he represents a number of creditors in the Lehman bankruptcies, and regularly advises financial institutions on trading contract and derivatives issues.

Online CLE Oil Gas

Aaron M. KibbeyManaging DirectorHuron Consulting Group

Aaron is a C-level executive and a nationally recognized restructuring & turnaround professional with more than 20 years of management and operations experience, including 15+ years in corporate finance, business development, M+A and restructuring. He has served in multiple leadership roles within companies to include General Manager with direct profit and loss responsibility and interim Chief Financial Officer. He also has significant experience serving in crisis management positions within companies facing operational and financial challenges and is well-versed at evaluating executive teams, working directly with boards of directors, and managing and negotiating with diverse lender groups in workout situations. His extensive experience working within distressed companies provides him with first-hand knowledge of the challenges and issues facing senior management teams considering or executing a restructuring plan.

Aaron previously served as a Managing Director in the Restructuring & Turnaround practice at Loughlin Management Partners (LM+Co). Prior to joining LM+Co, Aaron was the founder and principal of A-K Partners, which provided operational performance improvement assistance, M+A advisory services and post-acquisition integration to operating companies, lenders and private equity firms. Prior to that, he was the Head of Corporate Development and M+A for RCN Corporation, one of the nation’s largest over-builders of competitive broadband telecommunications services.

Online CLE Oil Gas

Timothy HynesHead of ResearchDebtwire

Tim Hynes Head of North American Research at Debtwire. Prior to joining Debtwire he was Head of Debt Capital Markets at Gleacher and Company. Mr. Hynes has also held positions at Cerberus Capital, Bankers Trust and GE Capital. Mr. Hynes received a BA in Finance from Michigan State University.

Online CLE Oil Gas

Course Level:
   Intermediate

Advance Preparation:
   Print and review course materials

Method Of Presentation:
   On-demand Webcast

Prerequisite:
   Experience in environmental or energy law

Course Code:
   146214

NASBA Field of Study:
   Specialized Knowledge - Technical

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.

Nelson Mullins Riley & Scarborough LLP provides advice and counsel in litigation, corporate, securities, finance, banking, mergers and acquisitions, financial services, healthcare, technology, intellectual property, labor and employment, government relations, regulatory, bankruptcy and creditors' rights, immigration, international law, and other needs of clients ranging from private individuals to large businesses.

With more than 65 diversified practice areas, Nelson Mullins works closely with its clients to find solutions to legal and business problems. With more than 500 attorneys and government relations professionals practicing from offices in Florida, Georgia, Massachusetts, New York, Tennessee, West Virginia, Colorado, the District of Columbia, and throughout the Carolinas, Nelson Mullins has strong roots in the business community and an appreciation for new directions in the business world.

Many Nelson Mullins clients—including growth companies, expanding local businesses, and major international companies—retain the Firm to provide all of their legal services. Other clients are national companies requiring assistance with specific regional or local legal matters. The Firm also represents international companies interested in locating facilities in the United States.

The Firm is large enough to provide the necessary resources and experience, yet personal enough to provide individual client attention. At heart, Nelson Mullins is an entrepreneurial firm dedicated to providing the highest quality legal services to our clients.  Nelson Mullins encourages its lawyers to approach each client individually, working to understand the needs, goals, and long-term plans of each client.  By identifying these strategic issues, our attorneys can develop an individualized approach targeting each facet of the client, creating specific solutions to help address each need, to reach each goal, and to realize each long-term plan.

Website: https://www.nelsonmullins.com/

McGuireWoods LLP, a leading international law firm with more than 1,000 lawyers in 23 offices worldwide, has earned the loyalty of its many longstanding clients with deep and broad legal experience, a passion for understanding their businesses and markets, innovative delivery of business-minded solutions, and unmatched service. The firm’s Restructuring and Insolvency Department represents clients in a range of industries, including mining, energy, healthcare, retail, transportation, manufacturing and telecommunications. Ten of McGuireWoods’ restructuring and insolvency lawyers are ranked by Chambers USA in its 2015 guide.  For more information, visit www.mcguirewoods.com

Website: https://www.mcguirewoods.com/

Huron is a global, professional services firm committed to achieving sustainable results in partnership with its clients. Their senior-level team members possess deep experience in a range of industries, with many serving as C-level executives.

This enables them to efficiently analyze a situation and apply our knowledge to identify and implement value creation strategies.

Through focus and collaboration, Huron provides guidance to organizations contending with change.

Website: https://www.huronconsultinggroup.com/

Debtwire is the leading source for market-moving news and analysis on actionable restructuring, distressed, high-yield and primary market situations. This proprietary content often gets behind the scenes to alert readers on happenings such as creditor group formations, company-side advisor mandates, restructuring proposals, trading activity, deal origination and the earnings of privately-held companies. Moreover, Debtwire’s group of reporters, devoted strictly to covering in-court situations, keeps readers up-to-speed on the latest events in court relating to restructurings and securities litigation. Debtwire Dockets technology also provides a streamlined alternative to PACER for retrieving court filings. The work of our journalists is complemented by the opinionated pieces from the lawyers on Debtwire’s legal analyst team, which provides guidance on what will shape restructuring situations that are both ongoing and coming down the pipeline. The credit analyst team publishes a host of issuer specific reports on high-yield, distressed and bankrupt companies, complete with cash flow analysis, projections and waterfall scenarios. For more information, please visit: www.debtwire.com

Website: https://www.debtwire.com/info/

Shane Ramsey is the Vice Chair of the Nelson Mullins Riley & Scarborough LLP Bankruptcy and Financial Restructuring Practice Group. Mr. Ramsey regularly represents committees of unsecured creditors, indenture trustees, secured creditors, unsecured creditors, bondholders, noteholders, liquidation trustees, plan administrators, disbursing agents, and other entities in bankruptcy reorganizations, liquidation proceedings, and bankruptcy related litigation.

Mr. Ramsey also has experience handling complex civil litigation matters in both state and federal courts and in alternative dispute resolution settings, including arbitration and mediation. His business litigation experience includes contract disputes, business torts, breach of fiduciary duties, officer and director liabilities, and other general litigation matters. 

John's practice focuses on complex Chapter 11 cases and debtor and creditor rights. He handles business reorganizations and cross-border insolvency matters, and has extensive experience representing debtors, creditors, acquirers, landlords and equity holders, both in and out of court, across a broad range of industries.

Over the course of his career, John served as a key team member in the representation of numerous high-profile Chapter 11 debtors, including Enron, Worldcom, Northwest and LyondellBasell. In addition, he represents a number of creditors in the Lehman bankruptcies, and regularly advises financial institutions on trading contract and derivatives issues.

Aaron is a C-level executive and a nationally recognized restructuring & turnaround professional with more than 20 years of management and operations experience, including 15+ years in corporate finance, business development, M+A and restructuring. He has served in multiple leadership roles within companies to include General Manager with direct profit and loss responsibility and interim Chief Financial Officer. He also has significant experience serving in crisis management positions within companies facing operational and financial challenges and is well-versed at evaluating executive teams, working directly with boards of directors, and managing and negotiating with diverse lender groups in workout situations. His extensive experience working within distressed companies provides him with first-hand knowledge of the challenges and issues facing senior management teams considering or executing a restructuring plan.

Aaron previously served as a Managing Director in the Restructuring & Turnaround practice at Loughlin Management Partners (LM+Co). Prior to joining LM+Co, Aaron was the founder and principal of A-K Partners, which provided operational performance improvement assistance, M+A advisory services and post-acquisition integration to operating companies, lenders and private equity firms. Prior to that, he was the Head of Corporate Development and M+A for RCN Corporation, one of the nation’s largest over-builders of competitive broadband telecommunications services.

Tim Hynes Head of North American Research at Debtwire. Prior to joining Debtwire he was Head of Debt Capital Markets at Gleacher and Company. Mr. Hynes has also held positions at Cerberus Capital, Bankers Trust and GE Capital. Mr. Hynes received a BA in Finance from Michigan State University.

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