Project Finance

  • September 19, 2014

    Mexico Energy Reform To Inject Billions Into Texas, Panel Told

    The denationalization of the Mexican energy market after 75 years of government control will give Texas industry enormous opportunities for growth, with Mexico expected to spend more than $10 billion to import Texas goods and services in early stages of the overhaul, experts told a Texas Senate panel Friday.

  • September 19, 2014

    Gazprom Wants $1.3B Trade Secrets Suit In Federal Court

    Russian gas giant OAO Gazprom said Friday that a $1.3 billion trade secrets suit being pursued by Moncrief Oil International Inc. belongs in Texas federal court because the dispute is subject to a foreign arbitration agreement governing a failed Siberian gas field deal.

  • September 19, 2014

    Algonquin Agrees To Pay $327M For Regulated Water Utilities

    Canadian energy player Algonquin Power & Utilities Corp. said Friday that its regulated utility business will pay Carlyle Group-backed Western Water Holdings approximately $327 million for water distribution utility Park Water Co., which produces and sells water in Southern California and Western Montana.

  • September 19, 2014

    Navy, USDA, DOE Back Refineries For Military Biofuels

    The U.S. Departments of Energy, Agriculture and Navy said Friday that they've awarded contracts to three companies to build refineries that will produce drop-in biofuels to supply the military, producing more than 100 million gallons of military-grade fuel a year starting in 2016 and 2017.

  • September 19, 2014

    Exxon Slams Brakes On Russian Oil Project Amid Sanctions

    ExxonMobil Corp. confirmed Friday that it's stopping work on an offshore oil well in the Arctic Ocean it's jointly developing with Russian oil giant OAO Rosneft in order to comply with escalating U.S. and European Union sanctions that have put the squeeze on Russia's energy sector.

  • September 19, 2014

    Pulling Up Stakes: Stradley, Cadwalader, Hogan Lovells

    In this week's roundup of dealmakers on the move, Stradley Ronon Stevens & Young LLP landed an investment management pro in Washington, D.C., Cadwalader Wickersham & Taft LLP picked up a capital markets partner in London and Hogan Lovells added a project finance pro in Tokyo.

  • September 19, 2014

    TransCanada CEO Says Keystone Pipeline Cost Could Double

    The CEO of TransCananda is predicting that the cost of building the long-delayed Keystone Pipeline could double by the time the cross-border project is completed, which would put the tab beyond $10 billion.

  • September 19, 2014

    Petroleum Development Reaches $30M Deal With Class

    In a deal worth at least $30 million, Petroleum Development Corp. has settled with a certified class of several thousand investors who accused the energy company in California federal court of shortchanging them when it bought back their stakes in undeveloped Colorado oil properties, the company reported Friday.

  • September 19, 2014

    Sky Solar Latest Green Energy Co. To Tap Public Markets

    Chinese renewable energy provider Sky Solar Holdings Ltd. is planning an initial public offering to raise $100 million to fund expansion, according to regulatory documents filed Thursday, marking the latest green company joining the IPO wave.

  • September 19, 2014

    Exxon Gains Permian Acreage In Swap With Linn Energy

    Exxon Mobil Corp. on Thursday beefed up its presence in the oil-rich Permian Basin of west Texas, acquiring nearly 18,000 acres from Linn Energy LLC in exchange for an interest in about 500 acres in the South Belridge oil field in central California.

  • September 19, 2014

    Dealmakers Q&A: Ice Miller's Brian Crist

    Everything in real estate is based upon yield and yield is based upon ultra-low interest rates. If interest rates stay the same, deal flow will continue its impressive recovery. If interest rates rise to mid-2000 levels, I'll have more time to work on my golf game, says Brian Crist of Ice Miller LLP.

  • September 18, 2014

    Senate Gives Final OK To ISIS Fight Aid, Avoids Shutdown

    The U.S. Senate on Thursday overwhelmingly approved funding for Syrian rebels to battle the Islamic State militant group, as part of a short-term spending bill that will fund the federal government through early December and avert another shutdown.

  • September 18, 2014

    ACE Sues American Dream Developer In $5.2M Premium Row

    ACE American Insurance Co. on Wednesday sued Triple Five Group Ltd. in New Jersey over an allegedly fraudulent transfer of a ground lease as part of the multibillion-dollar American Dream entertainment complex, which ACE contends was intended to stymie its collection of a $5.2 million arbitration award.

  • September 18, 2014

    House OKs Energy Package To Expedite Keystone XL, Drilling

    The U.S. House of Representatives on Thursday passed a package of energy-focused bills to ramp up oil and gas drilling and greenlight the Keystone XL pipeline among other initiatives, despite a White House threat to veto the bills if they reach the president's desk.

  • September 18, 2014

    Turkish Exporter Admits Fraud In $3.5M Ex-Im Settlement

    Agricultural products exporter SABA Inc. agreed on Wednesday to pay $3.5 million to settle claims in New York federal court that it fraudulently obtained a $29 million construction loan from Deutsche Bank AG guaranteed by the U.S. Export-Import Bank, but a suit against its agent will move forward.

  • September 18, 2014

    NJ Senate Panel OKs Post-Scandal Reforms For Port Authority

    A New Jersey Senate committee on Thursday advanced proposed oversight requirements for the Port Authority of New York and New Jersey that sponsors say would boost transparency and accountability at the bistate agency in the wake of Bridgegate and other blemishes.

  • September 18, 2014

    Riverstone Commits $225M To Mexico's Sierra Oil & Gas

    Energy-focused private equity firm Riverstone Holdings LLC said Thursday it is committing $225 million to support Sierra Oil & Gas S de RL de CV, a Mexican startup planning to seize opportunities enabled by the country's recent energy reforms. 

  • September 18, 2014

    NYC Schools To Spend $10B On Construction Projects

    Over a five-year period that began in 2013, New York City's 105 colleges and universities are expected to spend almost $10 billion on new construction and renovation projects, according to a report released Wednesday by the New York Building Congress.

  • September 18, 2014

    Murray To Argue EPA Can't Limit Plant Emissions At DC Circ.

    Murray Energy Corp. told the D.C. Circuit on Wednesday it plans to argue that the U.S. Environmental Protection Agency does not have legal authority under the Clean Air Act to carry out its plan to slash carbon emissions from existing power plants.

  • September 18, 2014

    FEMA Loses Fight To Fla. Water District Over $21M For Repairs

    A Florida federal judge on Wednesday reversed FEMA’s de-obligation of $21 million in rehabilitation funds for the Florida coast to repair canals and levees damaged from hurricanes in 2004 and 2005, saying the Stafford Act prohibits the federal agency from pulling the funds back.

Expert Analysis

  • Next Big Thing For Foreign Cos. — Yield-Oriented US IPOs

    Sean T. Wheeler

    The flexibility and access to capital available through master limited partnerships and yieldcos should result in a meaningful increase in yield-oriented U.S. initial public offerings by international companies. Many companies, however, irrationally fear the U.S. Securities and Exchange Commission’s process for registration statement review, says Sean Wheeler of Latham & Watkins LLP.

  • FERC Proposal Would Benefit Market-Based Rate Entities

    William D. Degrandis

    The Federal Energy Regulatory Commission's proposed market-based rate revisions would streamline filing and clarify when procedures are relevant to different types of entities, which could materially reduce burdens and costs, say William Degrandis and Candice Castaneda of Paul Hastings LLP.

  • Trade Cases Bring Good News For US Oil Pipe Industry

    Brian McGill

    Overall, the U.S. oil country tubular goods industry is pleased with the outcomes of the OCTG trade cases at the administrative agency level, particularly because the U.S. Department of Commerce increased anti-dumping duties on imports from Korea in its final margin calculations and the U.S. International Trade Commission made affirmative determinations with respect to substantially all subject imports, says Brian McGill of King & Spalding LLP.

  • 8 Trends Influencing Energy Transactions

    Sean T. Wheeler

    More and more midstream companies are in need of capital to take advantage of significant infrastructure investment opportunities, which should lead to more public and private merger and acquisition activity in the midstream space along with additional initial public offerings, says Sean Wheeler of Latham & Watkins LLP.

  • OPINION: Pro Bono May Help Diversity Recruiting Efforts

    David A. Lash

    A recent Law360 article about the perennial BigLaw concern over how to recruit and retain female and ethnically diverse attorneys addressed a new approach being taken by some law firms — going beyond traditional mentoring programs by creating a sponsorship relationship. Pro bono can also play a part, say David Lash and Merle Vaughn of the Association of Pro Bono Counsel.

  • Esquenazi In Korea: Identifying Instrumentalities Abroad

    Samantha Dreilinger

    Efforts to apply the Esquenazi definition in Korea — a country where the government plays a significant yet often obscured role in several important industries — reveal that the definition leaves important questions unresolved and provides little comfort to companies trying to determine whether a potential business partner may be subject to the Foreign Corrupt Practices Act, say attorneys with Cadwalader Wickersham & Taft LLP and Kim & Chang.

  • How Research Efficiency Impacts Law Firm Profitability

    David Houlihan

    For a law firm, excess time dedicated to legal research generates waste, either in the form of artificially reduced billable hours or, particularly in flat or contingency fee projects, as overhead eroding the profitability of legal work. By measuring five factors, firms will begin to understand their own opportunities for improving profits, says David Houlihan of Blue Hill Research Inc.

  • Can EU States Do Whatever They Want To Foreign Takeovers?

    Stephen C. Mavroghenis

    The European Union competition commissioner recently cited French initiatives to block the GE-Alstom deal as an example of “worrying signals of protectionist threats.” France is not, however, to be singled out as EU member states have sought to protect their national champions for decades, relying on, among others, an EU merger provision, say attorneys with Shearman & Sterling LLP.

  • Best Business Planning Practices For Lawyers

    Jenn Topper

    Each lawyer's practice is a self-run business, even within the platform of a firm, and yet the level of entrepreneurialism within the practice of law is oftentimes marginalized, says legal industry business development specialist Jenn Topper.

  • Ukraine Crisis Raises Questions For Foreign Investors

    Lee Caplan

    Foreign investors face uncertainty about the extent to which their investments in Ukraine are protected under Ukraine’s investment treaties in the context of armed conflict and belligerent occupation, says Lee Caplan of Arent Fox LLP.