The law firm Haynes and Boone today released the results of its “Fall 2018 Borrowing Base Redeterminations Survey,” which shows a bright outlook for oil and gas producers. The firm provided key takeaways from its 2018 Fall survey: Respondents have a positive outlook about fall 2018 borrowing bases – over 78 percent expect borrowing bases to increase, with 36 percent
Seadrill Partners LLC said the English High Court has ruled in favor of its subsidiary Seadrill Ghana Operations Limited relating to the early termination of the West Leo contract by Tullow Ghana Limited. Seadrill Ghana was seeking to recover standby and force majeure rates and early termination fees of $278 million plus interest and legal expenses, Seadrill said in a
Oilfield services bankruptcies since early 2015 have reached $58.5 billion: Haynes and Boone less damage to midstream sector Oilfield services International corporate law firm Haynes and Boone has been tracking and reporting industry developments in oilfield service restructurings. The firm’s research includes details on 167 bankruptcies filed since the beginning of 2015, including secured and unsecured debt totals for each
Debt involved in oil and gas company bankruptcies since 2015 totals $90 billion International corporate law firm Haynes and Boone has tracked 144 North American oil and gas producers that have filed for bankruptcy since the beginning of 2015. These bankruptcies, including Chapter 7, Chapter 11, Chapter 15 and Canadian cases, involve approximately $90.2 billion in cumulative secured and unsecured
A look at where the industry believes energy development capital will be sourced More than 80% of Haynes and Boone’s respondents in its newest borrowing base survey expect borrowing bases to increase, with most expecting 10 to 20 percent increases, the firm said today. The energy group at Haynes and Boone said that results of its Spring 2018 Borrowing Base
Haynes and Boone, LLP has expanded its energy practice with the addition of an experienced oil and gas commercial litigator, Michelle Scheffler, to its team. Scheffler has represented clients in multimillion-dollar lawsuits at both the state and federal courts throughout the country. Scheffler has represented major integrated oil and gas companies, privately owned independents and equity investors. In addition, Scheffler
$50 is the new $75 In September, Haynes and Boone, LLP polled oil and gas producers, oilfield services companies, energy lenders, private equity firms, and other industry participants to get their predictions about producers’ future borrowing capacity or “borrowing bases.” Producers’ loans are assessed by their lenders twice a year to determine how much credit will be available based upon
Craig Stahl and Jeffrey Kuehnle have joined the Houston office of energy powerhouse Haynes and Boone, LLP as partners in the firm’s Litigation and Energy Practice Groups. Stahl has decades of experience handling oil and gas litigation, including serving as lead counsel for oil and gas producers in multidistrict litigation and class actions with multimillions of dollars at stake. He
Secretary’s mandated review of NTL No. 2016-N01 will get more time In an announcement on June 22, 2017, BOEM reiterated that Secretary’s Order 3350, issued on May 1, 2017, directed BOEM to “promptly complete a review of Notice to Lessees (NTL) No. 2016-N01 and provide our recommendation on whether to implement this NTL to the Assistant Secretary – Land and
Mexico awards 10 shallow water GOM blocks in successful 2.1 bid round The National Hydrocarbon Commission of Mexico awarded 10 out of the 15 exploration blocks that were in its Round 2.1 lease auction this week. The awarded leases cover prospective oil and gas acreage in Mexico’s shallow waters in the Gulf of Mexico. According to Haynes and Boones’
Energy companies will have access to debt in 2017 Haynes and Boone, LLP released its spring 2017 survey of oil and gas borrowers and lenders this week, demonstrating a modestly improved outlook for the oil and gas market. In its “Borrowing Base Redeterminations Survey: Spring 2017,” the firm polled a broad cross-section of the industry, including executives at oil and gas
Get your DUCs in order Energy attorneys Haynes and Boone recently looked at the top SEC disclosure issues for E&P company 2016 annual reports. The findings from Haynes and Boone appears below. Comment letters issued in 2016 by the staff of the Division of Corporation Finance of the Securities and Exchange Commission (SEC) to reporting E&P companies relating to their 2015
