Midstream Agreements Can Still 'Run With The Land'
Law360 (October 18, 2019, 4:52 PM EDT) -- In an order issued on Sept. 30, the United States Bankruptcy Court for the District of Colorado, construing Utah law, held that a gas gathering and processing agreement and a salt water disposal agreement each constituted "covenants that run with the land," and could not be extinguished through a Section 363 bankruptcy sale.
In the order, the bankruptcy court expressly distinguished the recent In re Sabine Oil & Gas Corp. decision that sent shockwaves through the upstream and midstream segments of the oil and gas industry.
As the first reported decision to test Sabine, this order provides upstream and midstream companies,...
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