Energy

  • October 16, 2014

    The 4 Hottest Sectors For IPOs Right Now

    This year has already been a banner one for initial public offerings, but 2014 is not over yet, as issuers eagerly eye four sectors in particular for their final IPO launches of the year, experts say.

  • October 15, 2014

    Trustee Seeks To Sink Glacial Energy's Exclusivity Extension

    The U.S. Trustee's Office on Wednesday urged a Delaware bankruptcy to reject Glacial Energy Holdings Inc.'s bid for a further extension of its exclusivity period, saying the company's failure to provide financial updates makes it unclear if it can produce a viable Chapter 11 plan.

  • October 15, 2014

    Citigroup Unit Fined $2M Over Mexican Oil Co.'s Loan Fraud

    Mexico's banking and securities regulator said Wednesday that it has fined Citigroup Inc.'s Banamex unit a little more than $2 million for failing to prevent a $400 million loan fraud allegedly perpetrated against it by a Mexican oil services company.

  • October 15, 2014

    Bankrupt Endeavour Sets Out On Path To Lighten $1.2B Debt

    Endeavour International Corp. won the blessing of a Delaware bankruptcy judge for a slate of first-day pleadings Wednesday, the first step in what the oil and gas exploration outfit hopes will be a speedy trip through Chapter 11 with a plan designed to shed more than half a billion dollars in debt.

  • October 15, 2014

    EFH Gets Judge's Nod For $20M Executive Bonus Plan

    A Delaware bankruptcy judge on Wednesday allowed Energy Future Holdings Corp. to go ahead with its plan to pay out up to $20 million in executive bonuses over the objections of the U.S. trustee's office, which argued the compensation flouted Chapter 11 rules by providing no actual performance incentive.

  • October 15, 2014

    NJ Bill Would Fund Roadwork With Alt-Fuel Vehicle Tax

    A New Jersey assemblyman on Tuesday announced plans to introduce legislation that would divert tax revenues from the sale of alternative-fuel vehicles to the state's Transportation Trust Fund, a bill aimed at replenishing the depleted funds.

  • October 15, 2014

    EPA Agrees To Calif., Alaska Soot Pollution Plan Deadlines

    A California federal court on Tuesday approved a settlement between the U.S. Environmental Protection Agency and an environmental group establishing deadlines for determining whether plans to limit pollution from soot in Alaska and California meet federal standards.

  • October 15, 2014

    Range Tells Texas Justices Not To Dumb Down Energy Deals

    Range Resources Corp. and a group of royalty owners on Wednesday told the Texas Supreme Court not to "dumb down" prices for mineral rights, arguing they had the right to strike a deal to pay a higher upfront bonus for a Barnett Shale property in exchange for a lower royalty rate without offending the rights of a nonparticipating royalty owner.

  • October 15, 2014

    Deepwater Plaintiffs Pan BP Bid To DQ Claims Administrator

    Class counsel in the Deepwater Horizon litigation on Wednesday responded to BP PLC’s bid to oust the claims administrator overseeing settlement payments, saying the company knew of his work for the state of Louisiana — which BP characterized as a conflict of interest — before he was chosen.

  • October 15, 2014

    Lockheed Seeks Partners After Claiming Fusion Breakthrough

    Lockheed Martin Corp. announced Wednesday it is seeking partners to back its nuclear fusion reactor program after the company's experimental design team found ways to drastically reduce the reactor’s size and could be ready for deployment within a decade.

  • October 15, 2014

    IFC Buys $50M Of Seven Energy's $400M Bond Issuances

    International Finance Corp. said on Wednesday that it has agreed to purchase $50 million of the $400 million in bonds being offered by Seven Energy International Ltd., as part of its continued efforts to help strengthen Nigeria's energy market.

  • October 15, 2014

    Chemical, Oil Groups Want Say In CERCLA Finance Suit

    Chemical and petroleum industry groups on Monday asked the D.C. Circuit to stop environmentalists’ effort to force the U.S. Environmental Protection Agency to issue rules to ensure that industries that handle hazardous substances will have the financial means to clean up any inadvertent releases.

  • October 15, 2014

    Kinder Morgan Drops $240M On Texas Terminal Expansions

    Kinder Morgan Energy Partners LP on Wednesday said it would invest $240 million to expand its refined hydrocarbon terminals at Pasadena and Galena Park in Texas, in response to growing demand for storage and dock services along the Houston Ship Channel.

  • October 15, 2014

    PE-Backed Energy Co. Pays $500M To Up Marcellus Acreage

    Mountaineer Keystone Energy LLC, a unit of energy-focused private equity firm First Reserve Corp., said it paid $500 million to acquire PDC Mountaineer LLC, a joint venture of PDC Energy Inc. and private equity firm Lime Rock Partners LLC operating in the Marcellus Shale in West Virginia.

  • October 15, 2014

    Colo. Town, Oil Industry Group End Fight Over Drilling Regs

    The Colorado Oil & Gas Association said Tuesday that it’s dropped a challenge of a city’s drilling regulations that it claims are preempted by state law, though the legal fight between the industry group and the town over its hydraulic fracturing ban remains a live issue.

  • October 15, 2014

    Dominion Set To Raise Up To $368M For LNG Project In IPO

    Dominion Midstream Partners LP said Tuesday that its initial public offering is priced at the high end of the $19 to $21 per-share range, meaning if all 17.5 million shares are snagged, it could raise up to $367.5 million, which it plans to put toward a massive liquefied natural gas export project.

  • October 15, 2014

    Offshore Driller Files $305M IPO Despite Low Oil Prices

    Ocean Rig Partners LP, which will acquire and operate offshore drillers, filed for a $305 million IPO on the Nasdaq Global Market on Tuesday, confident in its starting assets and future growth despite a worldwide oil price slump. 

  • October 15, 2014

    American Midstream Pays $470M For Permian, Bakken Assets

    American Midstream Partners LP said Tuesday that it paid $470 million to buy Texas-based processing and gathering company Costar Midstream LLC from private equity firm Energy Spectrum Capital LP and Costar management, boosting the master limited partnership’s presence in Texas’ Permian Basin and North Dakota’s Bakken Shale.

  • October 14, 2014

    5th Circ. Shouldn’t Rethink Deepwater Ruling, US Says

    The federal government has told the Fifth Circuit it should deny BP PLC and Anadarko Petroleum Corp.’s motions for en banc rehearing of a decision finding them liable for the Deepwater Horizon disaster, arguing that a trial judge’s subsequent findings of fault shouldn’t affect liability questions.

  • October 14, 2014

    5th Circ. Can Hear $50M Sinkhole Battle, Texas Brine Says

    The Fifth Circuit has jurisdiction to hear Texas Brine Co. LLC’s appeal seeking to stay, pending arbitration, a $50 million coverage battle over claims springing from a class action that accused the salt producer and an oil and gas company of causing a sinkhole, Texas Brine argued last week.

Expert Analysis

  • Reflecting On Japan's 50 Years In The Global LNG Market

    Philip R. Weems

    Today you do not need to look far to see evidence of the far-reaching role Japanese companies play across the entire liquefied natural gas supply chain — Japanese companies have used creative strategies for the past 50 years to develop and adapt to the ever-changing global LNG industry, say Philip Weems and Nina Howell of King & Spalding LLP.

  • Protections And Pitfalls For Energy Investors In Canada

    James J. Shanks

    Once implemented, new trade arrangements will significantly expand the list of treaty-protected countries and range of foreign stakeholders able to benefit from investor protection in Canada — such agreements cannot, however, be used by Canadian nationals to block negative governmental action toward their own domestic investments, says James Shanks of Gowling Lafleur Henderson LLP.

  • Tax Clarification Should Clear The Way For Renewables

    Arnold E. Grant

    A recent notice from the Internal Revenue Service on production and investment tax credits provides welcome clarity that can only encourage tax equity investors who have been on the sidelines due to prior uncertainty over renewable energy projects, say attorneys at Reed Smith LLP.

  • Calif. Anti-Fracking Ordinances On Shaky Legal Ground

    Jeffrey D. Dintzer

    Compton’s hydraulic fracturing ban may implicate the Takings Clause of the U.S. and California Constitutions since fracking is meant to access energy resources that cannot otherwise be extracted from the underlying property — the ban could constitute a taking of private property without just compensation, say Jeffrey Dintzer and Nathaniel Johnson of Gibson Dunn & Crutcher LLP.

  • 5 Reasons Large Companies Are Turning To Boutique Firms

    David M. Levine

    The departure of attorneys from large firms is a trend that has increased as a result of the Great Recession and its aftermath, and boutique firm partners who previously worked at large firms understand the potential large-firm pitfalls, say attorneys with Levine Kellogg Lehman Schneider & Grossman LLP.

  • How To Protect In-House Legal Privilege Internationally

    Martje Verhoeven-de Vries Lentsch

    Many companies regularly communicate with in-house legal advisers all over the globe. Are these communications privileged? By answering five questions, companies and attorneys can perform a high-level, initial assessment of legal privilege protection in a multijurisdictional context, says Martje Verhoeven-de Vries Lentsch of De Brauw Blackstone Westbroek and Haynes and Boone LLP.

  • Tracking Fracking: Where Is Ill. 1 Year Later?

    Lawrence W. Falbe

    While final hydraulic fracturing regulations in Illinois can reasonably expect approval by mid-October, the rules may be challenged on the basis that the Illinois Department of Natural Resources did not properly consider all public comments and revise them accordingly, say Lawrence Falbe and Sanford Stein of Quarles & Brady LLP.

  • Perils Of Communicating With Customers By Phone Or Text

    Given the large number of calls that can be made electronically, damages for Telephone Consumer Protection Act violations can run into the millions. In this short video, Sutherland partner Lewis Wiener discusses the TCPA and how businesses that communicate with customers by phone or text may be impacted.

  • Tales From The Dark Side Of Emerging Markets

    Kevin Atkins

    The challenges facing investors in emerging markets can increase exponentially when host governments are interventionist and prioritize nationalistic policies over the development of resource wealth, as seen in some transactions in the oil and gas sector, say Kevin Atkins and Rahwa Gebretnsaie of Chadbourne & Parke LLP.

  • As Climate Changes So Does Focus On Methane Emissions

    Andrew R. Wheeler

    Given that the Obama administration has focused almost entirely on carbon dioxide up until now, stakeholders should be prepared for the president to move quickly and aggressively to reduce methane emissions from the natural gas sector in the coming months, say attorneys at Faegre Baker Daniels LLP.