Project Finance

  • September 2, 2015

    EU Antitrust Officials Greenlight $70B Shell-BG Merger

    European antitrust regulators have given their blessing to Royal Dutch Shell PLC's $70 billion cash-and-stock takeover of BG Group PLC, Shell said on Wednesday, bringing the energy megadeal one step closer to completion, with antitrust regulators in the U.S. and other nations having already signed off on it.

  • September 2, 2015

    SolarCity Corp. Launches $400M Solar Projects Fund

    SolarCity Corp. has created a new fund that will allow it to finance $400 million in solar projects, the renewable energy company announced on Tuesday.

  • September 2, 2015

    Southern Ups Calif. Solar Portfolio With 300-MW Farm Buy

    Utility giant Southern Co. on Wednesday made its second big splash in the California solar market this week, buying a controlling stake in a 300-megawatt solar farm from solar developer First Solar Inc.

  • September 1, 2015

    Del., Md. Fight Share Of $276M Power Line Costs At FERC

    Delaware and Maryland utility regulators have filed a complaint with the Federal Energy Regulatory Commission, saying that residents of their states will bear an unfair amount of costs related to a $275.5 million transmission line from a nuclear power plant in New Jersey.

  • September 1, 2015

    Judge Says Past Work With Uranium Mine Won't Affect Case

    A New Mexico federal judge Tuesday said his previous work involving uranium mines as a U.S. attorney shouldn’t affect his judgment in a $7.2 million environmental cleanup suit seeking reimbursement from the federal government.

  • September 1, 2015

    FERC Power Demand Rule Usurps States, High Court Told

    The Electric Power Supply Association and other power providers told the U.S. Supreme Court that the Federal Energy Regulatory Commission overstepped its authority in requiring that consumers be paid for using less power during high-demand periods.

  • September 1, 2015

    Tokyo Olympics Logo Dumped After Plagiarism Outcry

    Organizers for the 2020 Olympics in Tokyo ditched its official logo Tuesday amid accusations that the symbol was plagiarized, marking the latest planning setback since Japan abandoned designs for the summer games’ stadium over cost concerns.

  • September 1, 2015

    Crude Exports Could Lower Pump Prices, EIA Report Says

    Lifting the decades-old ban on crude oil exports could increase U.S. oil and gas production yet potentially lower gasoline prices for consumers, according to a U.S. Department of Energy report issued Tuesday.

  • September 1, 2015

    Arctic Drilling Leases Violate NEPA, Enviros Say

    Environmentalists challenging energy companies' ability to look for oil and gas off Alaska's northern coast have asked an Alaska federal judge to find the U.S. government violated the National Environmental Policy Act by not considering new information when it reaffirmed leases in the Chukchi Sea.

  • September 1, 2015

    EPA Insists Carbon Plant Rule Challenges Are Premature

    The U.S. Environmental Protection Agency urged the D.C. Circuit to nix petitions aiming to block its Clean Power Plan, claiming that state and industry challengers are attempting to bypass proper judicial review of the controversial regulations slashing carbon emissions from existing power plants.

  • August 31, 2015

    Neb. Residents Want Law Facilitating Keystone XL Overturned

    Nebraska residents living in the path of TransCanada Corp.’s proposed Keystone XL pipeline project told a state judge on Monday that a state law unconstitutionally allows the foreign pipeline company to use eminent domain, the latest volley in a long-running dispute.

  • August 31, 2015

    Ares Fund Pays $185M To WPX For ND Gathering System

    A private equity fund managed by Ares Management LP has agreed to pay $185 million to WPX Energy Inc. for a gathering system in North Dakota's Williston Basin, as the oil and gas producer looks to cut costs after spending $2.35 billion in Texas' Permian Basin in July.

  • August 31, 2015

    Con Ed Gets Partial Win In $24M Brownfield Cleanup Suit

    A New York federal judge denied a Manhattan property owner’s request to find Consolidated Edison Co. of New York Inc. responsible for at least 90 percent of costs related to a $24 million gas plant cleanup, saying Friday that certain facts remain in dispute.

  • August 31, 2015

    Maersk Oil Wins Approval For $7.8B North Sea Development

    A unit of A.P. Moller-Maersk said Monday that regulators in the United Kingdom have given approval to a $7.8 billion plan to develop and operate what the company is calling the largest gas field discovered in the North Sea in a decade.

  • August 31, 2015

    3 Pipeline Fights To Watch In Pa.

    After a decade of gas exploration in Pennsylvania's prolific Marcellus Shale play, an explosion of pipeline projects in recent years has fueled work for utility lawyers as they navigate often byzantine federal, state and local approval processes and fend off legal challenges from landowners and environmental groups. Here, Law360 looks at three pipeline fights to watch as development picks up steam.

  • August 31, 2015

    Clean Power Plan Puts Financial Squeeze On Electric Co-Ops

    The carbon emissions reductions mandated by the Clean Power Plan may force many rural electric cooperatives to prematurely close their coal-fired power plants, creating a multibillion-dollar debt headache for the nonprofit electricity providers, as well as the federal agency that loaned them the cash to build and update those plants.

  • August 31, 2015

    Berkshire Hathaway Unveils $4.5B Stake In Phillips 66

    Berkshire Hathaway Inc. has built up a stake in Phillips 66 worth $4.48 billion after parting with about $1.4 billion worth of the energy company’s stock in a transaction completed last year, the Warren Buffett-led holding company said on Friday.

  • August 31, 2015

    Southern Co. Grabs Control Of 200-MW Calif. Solar Farm

    Southern Co. said Monday that it has bought a controlling stake in a 200-megawatt solar farm being built in central California from project developer Canadian Solar Inc. as the utility giant continues to diversify its fuel mix away from its coal-heavy roots.

  • August 31, 2015

    5 Insights From 3M General Counsel Ivan Fong

    Going in-house for the right reasons and for the right company can be one of the most rewarding professional decisions you can make. It also comes with a certain amount of risk, for your career may rise or fall due to business or industry tailwinds or headwinds beyond your control, says Ivan Fong, general counsel for 3M Company and former GC of the U.S. Department of Homeland Security.

  • August 28, 2015

    Alaska High Court Affirms $9B Oil Pipeline Tax Valuation

    The Alaska Supreme Court on Friday affirmed in a 5-0 decision that the Trans Alaska Pipeline System should be valued around $9 billion for tax purposes for 2007 through 2009, much greater than the $1 billion averred by a group of oil companies that own the pipeline.

Expert Analysis

  • 5 Considerations For Developing Projects On Native Lands

    James I. Mann

    Native American tribes have a long history of partnering with private enterprises, including developers and lenders, to develop gaming facilities, energy generation facilities and other projects on Native American lands, but these opportunities come with their own unique considerations, say attorneys at Latham & Watkins LLP.

  • Russian Energy Sector Sanctions: 1 Year On

    Wynn Segall

    On Aug. 6, 2014, the United States and the European Union implemented various sanctions targeting the Russian energy sector’s ability to develop long-term exploration and production projects. The addition of a Gazprom oilfield to the U.S. sanctions list on Aug. 7, 2015, shows that Russian energy sanctions continue to evolve with no clear end in sight, say attorneys at Akin Gump Strauss Hauer & Feld LLP.

  • NY High Court, 2nd Circ. Are No Friends Of Fracking

    Yvonne E. Hennessey

    Not only have oil and gas operators utterly lost the ability to secure drilling permits to develop shale assets in New York due to a statewide ban, but now the New York Court of Appeals and Second Circuit have compounded this injury by affirming the termination of state oil and gas leases at the expiration of their primary term, says Yvonne Hennessey of Barclay Damon LLP.

  • Understanding PURPA Rights In Power Purchase Agreements

    Daniel R. Simon

    After many years of waning significance, the Public Utility Regulatory Policies Act of 1978 has reignited as a useful tool for renewable energy and cogeneration project developers. But before negotiating a power purchase agreement of any type, developers, lenders and investors should understand their rights under PURPA, says Daniel Simon at Stroock & Stroock & Lavan LLP.

  • EPA Aggregation Rule May Be As Important As Methane Regs

    Michael J. Nasi

    While the U.S. Environmental Protection Agency's proposed rule for methane emissions has received the bulk of media attention, another proposed rule on the aggregation of multiple surface sites into a single source for air-quality permitting purposes may have as much or more of a direct impact on oil and gas operations, say attorneys at Jackson Walker LLP.

  • Think 10th Circ. Endorses State RPS? Think Again

    Harvey L. Reiter

    While some advocates of renewable energy have characterized the Tenth Circuit's ruling in Energy & Environment Legal Institute v. Joshua Epel as an endorsement of states adopting renewable portfolio standards, that is not the case. The Commerce Clause may not bar states from favoring one energy technology over another, but it does bar states from favoring in-state over out-of-state competitors, says Harvey Reiter of Stinson Leonard Street LLP.

  • FHWA Takes A Look At An Innovative Contracting Method

    Ann-Therese Schmid

    The U.S. Federal Highway Administration has issued a notice of proposed rule-making that should help to institutionalize the construction manager/general contractor method for contracting — which has been in use by the U.S. transportation industry since the early 2000s — while keeping in mind the complications of using innovative contracting on federal projects, says Ann-Therese Schmid at Nossaman LLP.

  • Royal Succession And Oil Stay Steady In Saudi Arabia

    Edward Rose

    Despite the rapidity of recent changes that have affected Saudi Arabia's energy sector, the basic legal framework remains unaffected. Under the kingdom's current government, it appears the country's petroleum policy will be directed both externally toward global oil markets and domestically at expanding the nation's economic base, promoting energy efficiency and continuing a drive for greater industrialization, say attorneys at Jones Day.

  • Inside EPA's Plan For Reducing Methane Emissions

    Stacie B. Fletcher

    The U.S. Environmental Protection Agency's recently proposed methane regulations for the oil and gas sector largely build on controls and work practice standards already employed pursuant to existing new source performance standards addressing volatile organic compounds, say Stacie Fletcher and David Schnitzer of Gibson Dunn & Crutcher LLP.

  • Top 5 Ways To Help A Law Professional Land A Job

    Mark Newall

    It is a hard truth, but a law degree is a tough thing to have nowadays. Overloaded with thousands of dollars in debt and only a few job prospects that require a law license, many law graduates are looking for ways to manage their careers. We suggest some proven methods to amplify and accelerate your job search, says Mark Newall of Essex Partners Legal.