Energy

  • October 20, 2014

    QEP Nabs $2.5B In Sale Of Midstream Biz To Tesoro

    QEP Resources Inc. said Sunday that it’s agreed to sell its midstream business to Texas-based Tesoro Corp. for $2.5 billion, following through on a January promise to unload the unit in the wake of activist investor pressure to shake up its operations.

  • October 20, 2014

    Macquarie Leads $4.7B Purchase Of Louisiana Utility Cleco

    A group of investors led by Macquarie Infrastructure & Real Assets Inc. will acquire Cleco Corp. for $4.7 billion including debt, the companies said Monday, in a move expected to benefit investors while not affecting the Louisiana-based utility company's day-to-day operations.

  • October 17, 2014

    Energy Future Plugs Auction Plan, Draws Fire From Creditors

    Energy Future Holdings Corp. urged a Delaware bankruptcy judge on Friday to bless a proposal to auction its prized stake in Oncor Electric Delivery Co. LLC but faced resistance from various creditor groups who contend the auction scheme would deprive them of billions of dollars.

  • October 17, 2014

    Laredo Petroleum Leak Settlement Spurs Possible Sanctions

    A Texas federal judge on Friday said counsel for Flat Rock Land LLC may face sanctions for what she said was a misleading legal argument about whether it should have been served with a copy of a settlement reached by Compass Bank and defendants including Chevron USA Inc. and ExxonMobil Corp. in a case involving a petroleum leak that contaminated downtown Laredo.

  • October 17, 2014

    Ill. Fracking Holdup Violates Property Rights, Suit Says

    A group of oil and gas rights owners filed a proposed class action against Illinois in state court, saying its denial of fracking permits is an unconstitutional taking of their property.

  • October 17, 2014

    Canadian High Court Clears Way For Wiretap Disclosures

    Canada's highest court ruled Friday that consumers pursuing a class action against several gas station operators could get access to wiretaps made of the alleged conspirators during the government's criminal probe of the plot.

  • October 17, 2014

    Pa. Court To Decide Class Arbitrability In Gas Lease Row

    A Pennsylvania federal judge on Thursday gave a boost to Chesapeake Appalachia LLC in its dispute with Scout Petroleum LLC over gas lease royalties, saying that recent Third Court precedent determined that the court, rather than arbitrators, should decide whether class arbitration is permissible in the case.

  • October 17, 2014

    Sidley Beats Subpoena Bid In PetroTiger CEO's Bribery Case

    A New Jersey federal judge on Friday freed Sidley Austin LLP from a subpoena seeking documents related to its probe of PetroTiger Ltd. following its former CEO's indictment for allegedly conspiring to bribe Colombian officials to secure a $39 million contract.

  • October 17, 2014

    ATP To Pay $1M For Hiding Gulf Oil And Chemical Spill

    ATP Infrastructure Partners LP agreed to pay a $1 million fine to settle allegations that it violated federal environmental laws by surreptitiously discharging oil and chemicals into the Gulf of Mexico, the U.S. Environmental Protection Agency and two other federal agencies announced Thursday.

  • October 17, 2014

    All Eyes On Africa As Next PE Hotspot

    As China's growth slows, Europe continues to stagnate and U.S. deals remain pricey, private equity investors eager to find an alternative are eyeing an unexpected locale: Africa.

  • October 17, 2014

    EPA Ozone Rule Cost Concerns May Be Tough Sell: Study

    Industry groups looking for a fight over whether the benefits justify the costs of the U.S. Environmental Protection Agency's expected revisions to its ozone air quality standard are likely to face an uphill battle, according to a new study commissioned for Congress.

  • October 17, 2014

    Deals Rumor Mill: Tiger Airways, Fresenius, EnCap

    Tiger Airways Holdings Ltd. is selling its stake in low-cost airline Tiger Australia for less than the price of a vending machine candy bar, while the French government plans to offer investors the chance to buy stakes in public utility networks in an attempt to raise up to $12.66 billion.

  • October 17, 2014

    Maxwell To Pay $3.3M To Settle Suit Over Accounting Flubs

    A pension fund that filed a consolidated shareholder suit against Maxwell Technologies Inc. asked a California federal judge on Friday to approve a $3.3 million settlement over alleged accounting deficiencies that led Maxwell to revise its earnings downward by about $13 million for almost two years.

  • October 17, 2014

    Ex-NFLer Hamstrings Subpoenas In Atty Investment Row

    The battle between a former NFL player and a prominent attorney over a $1 million investment lost in a waste-to-energy business recently grew more contentious, with a New Jersey federal judge curtailing, but not quashing, subpoenas for the player's financial records. 

  • October 17, 2014

    Oil Trust Shareholders Allege Fraud In Offering Prospectuses

    Investors filed a class action complaint against Pacific Coast Oil Trust and its underwriters in California Superior Court on Thursday, alleging that the trust wrote misleading initial and secondary public offering prospectuses that understated the amount of fluctuation in its monthly distributions.

  • October 17, 2014

    Taxation With Representation: Andrews Kurth, Jones Day

    In this week's Taxation With Representation, medical equipment maker Steris Corp. announces a $1.9 billion inversion deal with a U.K. company while a unit of private equity firm First Reserve Corp. picks up land in the gas-rich Marcellus Shale and an energy partnership aims high in its initial public offering. 

  • October 17, 2014

    Reid Blasts NRC's Approval Of Yucca Nuclear Waste Site

    Senate Majority Leader Harry Reid, D-Nev., said Friday that dumping nuclear waste at Yucca Mountain is a failed policy, following a recent U.S. Nuclear Regulatory Commission report that concluded the proposed nuclear waste depository site meets environmental and safety requirements.

  • October 17, 2014

    Enviros Ask Obama To Curb Methane Pollution From Fracking

    More than 100 local, state and national environmental organizations urged the Obama administration in a letter Thursday to begin a rulemaking process to curb methane pollution from fracking, saying the gas is more potent than carbon dioxide and presents serious health and environmental risks, according to environmental group Earthworks. 

  • October 17, 2014

    Duke Units File 3rd Spent Nuclear Fuel Suit Against DOE

    Two Duke Energy Inc. units on Thursday sued the U.S. Department of Energy claiming the government breached a contract to collect spent nuclear fuel and waste between 2011 and 2013 from four power plants in the Carolinas and Florida.

  • October 17, 2014

    Pa. Gov. Ordered To Hand Over Public Drilling Plan Details

    Officials in Gov. Tom Corbett’s office have been ordered to turn over information about the administration’s plans to raise upwards of $95 million in revenue through new leasing of state parks and forestland for natural gas drilling, a Pennsylvania state lawmaker has confirmed.

Expert Analysis

  • In A Dangerous World, Energy Cos. Should Look To SAFETY

    Scott A. Freling

    Critical U.S. energy infrastructure is a natural fit for protection under the Support Anti-terrorism by Fostering Effective Technologies Act, and operators should take a cue from the transportation, real estate and entertainment industries and examine whether the law might offer an additional layer of financial protection, says Scott Freling of Covington & Burling LLP.

  • Texas High Court May Have Remade Utility Ratemaking

    Dane McKaughan

    Two takeaways from the Texas Supreme Court's unanimous opinion in Texas Coast Utilities Coalition v. Railroad Commission of Texas are the commission's broad new authority to adopt formula rates and the potential for the court's analysis to apply to the Public Utility Commission's adoption of formula rates for electric utilities, says Dane McKaughan of Greenberg Traurig LLP.

  • Initial Impressions From Deepwater Horizon Ruling

    B.D. Daniel

    At first blush, Halliburton Co.'s recent $1.1 billion settlement looks like a complete victory for the Plaintiffs’ Steering Committee as the ruling shifts any remaining actual damage liability from Halliburton to BP Exploration and Production Inc., thus relieving Halliburton of any liability for punitive damages — it is hard to see where it now has any further exposure, says B.D. Daniel of Beck Redden LLP.

  • Greater Guidance Comes To Calif. For Land Appraisals

    Bradford B. Kuhn

    San Diego Gas & Electric Company v. Schmidt provides considerable guidance for California parties involved in the valuation of land containing natural resources — appraisers can avoid relying on comparable sales and instead focus on an income approach to value, say Bradford Kuhn and Alex Suarez of Nossaman LLP.

  • Document Storage Tips: Inside The Email Vault

    Jon Kessler

    The ability to make an informed decision when approaching any evidentiary collection or e-discovery project — ideally before your company’s IT team or legal counsel is under the gun of an active investigation or litigation — is key to smoothing what can be a complex and expensive process. Get to know your email archive system, says Jon Kessler of Epiq Systems Inc.

  • 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.