5 Pitfalls For Purchasers Of Distressed Oil, Gas Assets

Law360, New York (February 2, 2016, 7:16 PM EST) -- With oil prices stubbornly in the $30-per-barrel range and showing little sign of recovery, energy attorneys are bracing for a wave of asset sales from cash-strapped companies desperate to stay afloat or bankrupt firms looking to pay off their creditors.

But while it's a buyer's market, bargain-hunting carries plenty of risks, from creditors attempting to claw back a sale after a seller teeters into bankruptcy to buyers unwittingly being dragged into disputes with the seller's drilling partners.

“The process we usually go for is to identify all the risks of doing the transactions with the distressed asset buyer and look for...

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