Haynes and Boone – Page 13

BOEM Issues Delay for New Financial Assurance Requirements for Offshore Operators

January 12, 2017

Government prioritizing implementation of new OCS financial assurance rule On January 6, 2017, the Bureau of Ocean Energy Management (BOEM) announced a six-month delay in the implementation of the rigorous financial assurances required by Notice to Lessees and Operators NTL No. 2016-N01, Haynes and Boone attorneys Robert Thibault and Christopher J. Reagen announced in a notice to clients yesterday. “Although the

Haynes and Boone’s Diana Liebmann Named to Top Women in Energy Law

December 8, 2016

Diana Liebmann, partner, Haynes and Boone, San Antonio, was named in Texas Lawyer’s 2016 list of top women in energy law. “We are proud to profile the honorees of our 2016 Top Women in Energy awards. The following women are recognized for their work in the area of energy law—an area that has been particularly volatile this past year,” the

More than 100 Oil and Gas Operators have Filed for Bankruptcy as of August

September 15, 2016

Oil & Gas Bankruptcy Continues to Climb to $50.4 Billion in August Three more companies joined the ranks of those that have filed for Chapter 11 bankruptcy protection since the fall in oil prices. The three companies had combined debt of approximately $367 million, bringing the total number of oil and gas producers to file for bankruptcy in 2016 to

Energy Bankruptcies: We’ve only Seen a Third of Them

August 31, 2016

90 oil and gas operators with more than $60 billion in debt have already filed for bankruptcy: here’s what it’s like Depressed oil prices that are unable to support heavy debt loads have pushed 90 oil and gas companies into Chapter 11 since the beginning to of 2015, according to the Haynes and Boone Bankruptcy Monitor. These companies have approximately

Why Did Southcross Holdings Exit Bankruptcy Two Weeks After Filing?

April 15, 2016

Private equity firms pump $170 million into Southcross Holdings LP Poor economics driven by low oil prices is the harsh reality being faced by many operators since the end of 2014, forcing 42 companies to file for bankruptcy in 2015, but none of those operators have made it through the Chapter 11 process as quickly as Southcross Holdings LLP. Just

Spring Borrowing Base Redeterminations: a Preview

January 20, 2016

Haynes and Boone polled banks, producers, private equity firms, professional services and oilservice companies in January to take an early pulse of the spring redetermination expectations from the industry and the financial institutions supplying the credit. Key findings by Haynes and Boone: Overall respondents expect 79% of the borrowers to see a decrease in their borrowing base in spring 2016

What does the U.S. Government Expect from Energy Companies in 2016?

November 12, 2015

Just doing things right may not be enough: legal experts discuss changes to SEC reporting expectations for energy companies and recent trends in EPA investigations and enforcement actions Haynes and Boone LLP’s Denver office hosted a seminar this week that featured a slate of high-powered presenters, some of whom had spent years as attorneys at the SEC and EPA before joining Haynes and

DOI Confirms Authority over Service Contractors on the Outer Continental Shelf

October 23, 2015

U.S. Department of Interior Board of Land Appeals Affirms BSEE’s Assertion of Authority over Contractors on the OCS 10/23/2015 FROM: Haynes and Boone The Interior Board of Land Appeals (“IBLA”) has issued its long awaited decision on an appeal by an offshore service contractor challenging the authority of the Bureau of Safety and Environmental Enforcement (“BSEE”) to issue a citation

As Capital Tightens, E&Ps Stir the Gumbo

October 12, 2015

Borrowing Base Redeterminations Kicking into Full Swing Cyclicality in the oil and gas industry is a given. Across the board in today’s commodity price environment, the E&Ps and the OilService companies that provide them with drilling and completion services have worked hard to right-size costs. Management teams will expand and contract their companies’ drilling activity not necessarily by their doing,

What do Oil Companies and Lenders Foresee with this Fall’s Borrowing Base Redeterminations?

September 14, 2015

Haynes and Boone Releases Fall 2015 Borrowing Base Survey Results: “Time for Action” View Replaces Spring’s “Wait and See” Attitude New York City Financing Event Will Provide Color, Discuss Financing Options Farmouts of Proven but Undeveloped Assets could be Solution for Many Producers In an environment of continually falling commodity prices, things can get dicey for E&Ps. At today’s sub-$45 oil

IEA, Citigroup Say U.S. Production Drops of up to 500 MBOPD are on the Horizon

September 11, 2015

The International Energy Agency (IEA) expects non-OPEC production to drop by nearly 500 MBOPD in 2016 as a result of declining activity in the new commodity environment. The projection, made in the Agency’s Oil Market Report for September, reinforces a Citigroup forecast earlier in the week that said United States volumes alone could fall by as much as 500 MBOPD by

Haynes and Boone Interview at The Oil & Gas Conference 20

Interview with Haynes and Boone Partner Ricardo Garcia-Moreno

September 8, 2015

Ricardo Garcia-Moreno, partner with Haynes and Boone, speaks to Oil & Gas 360® at The Oil & Gas Conference® 20 in Denver about the recent reforms to the oil and gas industry in Mexico, and what it means for those doing business in the country. Garcia-Moreno outlines the positives of the most recent offshore auction, as well as what could be done

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