Project Finance

  • May 23, 2015

    Senate Passes Temporary Highway Funding Bill

    The U.S. Senate on Saturday passed a bill to extend current highway funding for a further two months, as lawmakers continue to debate suggested tax tweaks and other proposals to fund the many billions of dollars needed for a longer-term extension.

  • May 22, 2015

    KC Council Greenlights $303M Hotel Convention Project Deal

    The Kansas City, Missouri, City Council on Thursday approved preliminary plans for a $302.5 million, 800-room downtown Hyatt hotel and convention center project moving as the project announced earlier this month takes an early step forward. 

  • May 22, 2015

    Hess Escapes Bid To Revive Well Pollution Suit

    A Texas federal judge on Friday denied a bid to reconsider a previous judgment in favor of Hess Corp., which had been accused of polluting competitors’ wells in the Eagle Ford Shale, ruling that the plaintiffs didn’t prove she erred by excluding their expert witness’ testimony.

  • May 22, 2015

    UK Election Results A Win For Fracking, Loss For Wind Power

    With the Conservative party in control of the U.K. government after recent elections, energy attorneys expect a greater push for shale gas development, including hydraulic fracturing, and a murky future for large-scale renewable projects like onshore wind farms due to less government appetite for handing out subsidies.

  • May 22, 2015

    Bracewell Reps One Of Jordan's 'Seven Sister' Solar Sites

    Bracewell & Giuliani LLP said Friday that it undertook the project development and financing of a 10-megawatt solar photovoltaic power plant on behalf of the Arabia Trading & Consulting Company in Jordan, one of several solar projects planned in the country.

  • May 22, 2015

    New ESA Petitioner Rule Faces Likely Extinction

    The federal government's proposed rule requiring Endangered Species Act petitioners to gather information from states about the animal in question creates a new burden that likely won’t withstand inevitable legal challenges, experts say.

  • May 22, 2015

    SEC Flexes Bigger FCPA Muscles In $25M BHP Billiton Case

    When it charged BHP Billiton Ltd. $25 million for violating the Foreign Corrupt Practices Act, the U.S. Securities and Exchange Commission sent a powerful message to corporations that it’s willing to impose hefty fines for compliance failures even when no bribery is alleged to have taken place.

  • May 22, 2015

    Paul Hastings Reps Vanguard Natural Resources In $474M Buy

    Oil and gas developer Vanguard Natural Resources LLC said on Thursday it plans to purchase Eagle Rock Energy Partners LP in a $474 million stock swap deal led by Paul Hastings LLP, marking the second big buy in a month for Vanguard.

  • May 22, 2015

    BakerHostetler Adds Ex-Seyfarth Shaw Global Transaction Pro

    BakerHostetler LLP has added a former Seyfarth Shaw LLP transactional attorney who has more than 35 years of experience steering domestic and international business deals, including mergers, securities offerings, project financing and real estate transactions, to its New York business group, the firm announced Thursday.

  • May 21, 2015

    As Fuel Efficiency Rises, Ore. Turns Tax Focus To Mileage

    Oregon will become the first state in the nation this summer to tax some drivers on mileage rather than on fuel use, with the launch of a voluntary program aimed at making up for declining revenue as cars have become more efficient.

  • May 21, 2015

    6th Circ. Says Ohio Can't Lease Reservoir Land To Coal Co.

    The Sixth Circuit ruled Thursday that the state of Ohio had no authority to lease coal rights under land acquired for a reservoir and dam built by the U.S. Army Corps of Engineers, reversing a district court’s finding that Ohio could grant the lease without the Corps’ approval.

  • May 21, 2015

    La. Parish Sues Army Corps For $2M In Katrina Levee Repair

    A Louisiana parish sued the U.S. Army Corps of Engineers in federal claims court on Wednesday, seeking reimbursement for a $2 million judgment against it after the Corps allegedly reneged on a promise to pay landowners for soil the parish seized to repair the Corps-maintained levees breached following Hurricane Katrina.

  • May 21, 2015

    Ex-Im Bank Fights Enviros' Challenge To LNG Project

    Halting U.S. Export-Import Bank funding of Australian liquefied natural gas projects in the Great Barrier Reef will not stop the projects or address the claims of environmental groups, the bank argued before a California federal judge on Wednesday.

  • May 21, 2015

    Obama's GHG Guidance For Agencies Leaves Attys Skeptical

    Guidance proposed by the Obama administration to assist federal agencies with factoring greenhouse gas emissions into National Environmental Policy Act reviews is likely to fuel confusion and litigation if not significantly revised in its final form, experts say.

  • May 21, 2015

    British Columbia, Petronas Move Closer To $36B LNG Project

    The government of British Columbia on Wednesday reached agreements with a liquefied natural gas company owned by Malaysia's state-run oil business, Petronas, moving the company closer to a potential $36 billion LNG project that's been opposed by some Canadian First Nation groups.

  • May 21, 2015

    Senate Dems Prod Obama To Choose Pipeline Czar

    Ten Democratic senators from California, West Virginia and other states called on the Obama administration Wednesday to appoint a permanent director to the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration after many months of delay.

  • May 21, 2015

    Gas Coalition Says Pa. Frack Site Regs May Paralyze Drillers

    The Marcellus Shale Coalition said Tuesday that the Pennsylvania Department of Environmental Protection’s proposed rules governing surface operations at fracking sites could immobilize drillers.

  • May 21, 2015

    Consolidations Show Energy MLP Growth Isn't Forever

    Recent moves by energy companies to merge or reabsorb the master limited partnerships they control show there's a point where it's too difficult to keep the popular corporate structure growing while throwing off steady cash to investors, especially as more of that cash winds up in the pockets of the corporate parents.

  • May 20, 2015

    Cimarex Energy Plans $654M Stock Offering To Fund Drilling

    Colorado-based oil and gas producer Cimarex Energy Co. said Wednesday said it's looking to raise up to $654 million in a stock offering and use the cash to fund increased drilling and well completion activity for the next year and a half.

  • May 20, 2015

    Enviros Say $1.75B Ariz. Freeway Will Harm Tribal Land

    Environmental groups asked an Arizona federal judge Tuesday to block a planned $1.75 billion freeway project near Phoenix, saying the government glossed over alternatives to avoid harming wildlife and impacting land sacred to the Pima tribe.

Expert Analysis

  • Considering Competitive Transmission Solicitation Options

    Matthew R. McGuire

    Unlike other regional transmission organizations and independent system operators that identify the transmission project to be built and then solicit bids for who will construct it, PJM Interconnection LLC identifies issues with the transmission system and solicits proposals to resolve them. This solutions-based model likely yields more creative ideas, but at the cost of a more complex competitive solicitation model, says Matthew M... (continued)

  • Why El Paso Will Have Very Limited Applicability

    Philip Richter

    Notwithstanding commentary suggesting otherwise, in our view, the recent Delaware Chancery Court decision in a derivative suit related to an El Paso Pipeline Partners LP “drop-down” transaction does not indicate that the court will be more likely than in the past to find liability of master limited partnership general partners or their bankers, say attorneys with Fried Frank Harris Shriver & Jacobson LLP.

  • Consider 5 Things Before Choosing An E-Discovery Provider

    Barry O’Melia

    There has been a rapid and robust growth in the number of companies offering electronically stored information collection, management and processing services. But a recent survey indicated that not all service providers offer the level of expertise needed in today’s world of big data, the cloud and mobile devices, says Barry O’Melia, chief operations officer at Digital WarRoom.

  • The Underline’s Bottom Line: Urban Renewal In Miami

    Carly Grimm

    As the last slivers of Miami's waterfront properties are developed, the Underline, which aims to transform the underutilized land below the county’s Metrorail line into a landmark system of urban trails and linear parks, may prove to be the region's next hot corridor for private investment. Developers and business owners are sure to capitalize on what promises to be a world-class amenity, say Albert Dotson and Carly Grimm at Bilzin Sumberg LLP.

  • The Real-World Economic Consequences Of New MLP Rules

    Karl P. Fryzel

    The IRS’ proposed regulations addressing a master limited partnership tax exemption will force some companies to substantially reorganize their operations and may terminate the MLP status of several companies. The proposed regulations will also effectively promote vertical integration by giving a tax preference to full-service fracking companies, say attorneys with Locke Lord LLP.

  • Court-Appointed Experts — A Powerful But Rarely Used Tool

    Philip Woo

    The Tessera Inc. patent case highlights a useful procedure seldom used in the federal court system — Federal Rule of Evidence 706, which allows for a court-appointed expert. But Rule 706 provides little guidance on when to use such an expert, how to select one or how to work with one. Here are some tips, say Philip Woo and Nathan Greenblatt of Sidley Austin LLP.

  • Rejection Of Oil And Gas Leases May Prove Futile

    Camisha L. Simmons

    Although scant, there is case law authority which stands for the proposition that rejection of unexpired oil and gas leases would prove futile in light of the protections provided lessees under Bankruptcy Code section 365(h). Debtor lessors desiring to use bankruptcy as a way to cleanse themselves of unwanted oil and gas leases should think twice, says Camisha Simmons, founder of Simmons Legal PLLC.

  • This Week In Congress: Blue Alert, Freedom Act, And TPA

    Richard A. Hertling

    The House returns from a district work period this week with an ambitious agenda, set to focus on legislation related to law enforcement, defense and national security matters. Meanwhile the Senate will begin debate on trade promotion authority. Passage of TPA — which many Democrats oppose — is seen as critical for President Obama to expedite the Trans-Pacific Partnership, say Richard Hertling and Kaitlyn McClure of Covington & Burling LLP.

  • Building To Gold In Rio: Lessons From Past Olympics

    Jerry P. Brodsky

    The most difficult event of the 2016 Olympic and Paralympic Games takes place before the games even start — timely construction of all related infrastructure and facilities in Rio de Janeiro. With the 2014 FIFA World Cup still on the minds of Brazilians, and Sochi stories of still-unfinished work during the games, here are some ways the Rio 2016 organizing committee can get the gold, says Jerry Brodsky at Peckar & Abramson PC.

  • Law Firms Could Learn A Lot From The NFL Draft

    Mark Levin

    The NFL draft is the culmination of months of research and often years of watching top player prospects, all in the hopes of making the right decision on draft day and assembling the right athletes for a shot at a championship season. Law firm management, does this sound familiar to you? asks Mark Levin, co-founder of The Right Profile LLC and a former chief business development officer for two Chicago law firms.