Main Practice Contacts

Bernard F. Clark, Jr.
+1 713.547.2077


In the News

Buddy Clark in The Financial Times: Energy bondholders at risk as bank loans ebb

April in Texas traditionally marks the start of the spring thunderstorm season. This April, the tempestuous weather looks set to be accompanied by an additional financial squall for the state’s oil and gas companies as banks begin cutting back on the reserve financing on which these firms rely.

Such financing is typically re-evaluated twice a year, usually in October and April, and is tied to the value of the borrowing firms’ oil and gas reserves and related assets such as pipelines.
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Larry Pascal and Hunt Buckley in Inter-American Dialogues: How Is Mexico's Round One Oil Auction Shaping Up?

Mexico's government in December unveiled the terms of production-sharing contracts for 14 shallow-water exploration and production blocks and issued a call for bids as part of the first phase of Round One, the country's first public bid auction since it opened up its oil and gas sector to foreign and private investment. >>

Haynes and Boone Strengthens Energy Practice with Veteran Phil Lookadoo

WASHINGTON, D.C. – Veteran energy, regulatory and transaction lawyer Phil Lookadoo has joined Haynes and Boone, LLP as a partner in the firm’s Energy Practice Group. >>

Haynes and Boone Partner Buddy Clark on CNBC’s Squawk Box

Haynes and Boone, LLP Partner Buddy Clark, leader of the firm’s energy practice, was interviewed Dec. 2 as an energy industry expert on the impact of falling oil prices on Squawk Box, CNBC‘s the popular morning business program.

Clark, appearing with Wall Street Journal special writer Greg Zuckerman, said the fallout will be far from the catastrophe some have predicted for oil and gas producers.
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Recent Publications

Oral Agreement to Delay Oil and Gas Lease Closing Did Not Violate Statute of Frauds

The Texarkana Court of Appeals recently upheld a $12.4 million breach of contract judgment against Petrohawk, which arose out of Petrohawk’s agreement with the plaintiff landowners to schedule multiple closings to sign oil and gas leases, and its subsequent refusal to lease additional properties after the first closing. >>

The Draft Proposed 2017-2022 OCS Oil and Gas Leasing Program

As has been widely reported in the press, the Bureau of Ocean Energy Management (“BOEM”) has issued a Draft Proposed Program for the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program. >>

Addressing Oil and Gas Loan Defaults: Options and Consequences

If an E&P company cannot stretch its borrowing base and ends up with a borrowing base deficiency that is not timely cured, it will default under its credit agreement. This alert lays out a range of options that are available to temporarily or permanently move past a default under an E&P company’s reserved-based credit facility. >>

OFAC Publishes New and Amended Cuba Sanctions Regulations

The U.S. regulations implementing the policy changes with regard to U.S. sanctions against Cuba announced on December 17 by President Obama were released by the Treasury Department’s Office of Foreign Assets Control (OFAC) yesterday and went into effect today. >>

Brazilian Ministry for Mines and Energy Issues Directives for A-5 Power Bid

The Brazilian Ministry for Mines and Energy has issued Ordinance No. 653, which outlines the procedures for the A-5 Power Bid to be held on April 30, 2015. >>

A Dozen Ways to Stretch Your Borrowing Base

Oil markets have fallen significantly since the latest round of borrowing base redeterminations in September and October. The next scheduled round of redeterminations is set for March. >>

U.S. Policy on Cuba Could Create Business Opportunities

Earlier this month, President Obama announced historic changes to U.S. policy and relevant regulations regarding diplomatic engagement, travel and trade with Cuba. >>

Mexico Round One – First Bidding Process

As part of the implementation of the Energy Reform, the Mexican Government has selected certain areas and fields out of Round One which will be tendered for private industry participation in hydrocarbon exploration and production projects. >>





Energy

Our Private Capital Energy Webinar, Transformation of Energy Markets in the New Natural Gas Paradigm, explores impacts and recent developments in power markets. To access a client alert relating to these issues, click here.

Our recent webinar, Private Capital Quarterly Energy - An Analysis of Fracing Developments, discussed legal developments in fracing and selected states' water rights and water quality issues. To access a recording of the webinar and the presentation, click here.

Energy is a complicated business. When looking for legal counsel, clients want and need attorneys who have years of experience in the energy field, experience in the issues unique to the energy industry and a team with the bench strength to handle the largest deals and nimble enough to handle specific projects quickly and efficiently. Haynes and Boone knows the domestic and international physical and financial energy markets. Our experience spans decades of active participation in the energy industry with a depth of practice that includes upstream, midstream and downstream oil and gas; natural gas transportation, liquification, and regasification; electric power generation, transmission, marketing, transactions in compliance with state commission, FERC, ISO and RTOs requirements, wholesale and retail power sales, hedging and tolling agreements.

Our Energy Practice Group is comprised of more than 75 attorneys, professional landmen and senior energy market analysts with diverse backgrounds, experiences and skill sets specific to the energy industry. Our energy lawyers have domestic and multinational experience, having worked for major companies involved in the energy industry serving as in-house and general counsel, petroleum engineers, geophysicists and energy bankers, giving us outstanding insight into our clients' needs, issues and concerns, and allowing us to provide efficient and creative legal solutions. In addition to legal professionals, Haynes and Boone has an assembled team of professional landmen that assist, and in many circumstances coordinate and execute, the particular title due diligence required for many acquisitions and financings for our clients in oil and gas transactions.

We are very active in deals relating to both traditional energy sources and alternative or renewable energy resources. As a firm with a significant Texas base, we regularly represent a wide variety of industry clients in the energy sector from Fortune 100 companies to individuals.

Capital is a major resource for our energy clients and we are called upon to work on all aspects of our clients’ capital needs. We represent many of the major commercial energy lenders, private debt and capital providers and work closely with investment bankers accessing capital in the public markets for our energy clients. Our deep knowledge of the energy industry makes Haynes and Boone a go-to firm for both companies and capital providers in secured reserve based financings, private equity investments, joint ventures and public offerings. Given our decades of experience we have seen all aspects of the business cycles of the industry and have worked on a number of high profile debt restructures and insolvencies on both the debtor and creditor sides.

We are experienced in advising clients in a variety of domestic and international corporate and strategic transactions, regulatory and compliance matters, and litigation and arbitration specific to energy. Our international energy experience includes representing domestic and foreign national oil companies and power companies such as Petróleos Mexicanos (PEMEX), Petrobras, Ecopetrol, the Honduran National Energy Company (ENEE) and Petroecuador. We also practice before domestic and international bodies regulating the energy sector, including:

United States

  • Federal Energy Regulatory Commission (FERC)
  • North American Electric Reliability Corporation (NERC)
  • Texas Reliability Entity (TRE)
  • Public Utility Commission of Texas (PUCT)
  • Texas Railroad Commission (TRC)
  • Environmental Protection Agency (EPA) and State Departments of Environmental Quality
  • Electric Reliability Council of Texas (ERCOT)
  • Southwest Power Pool (SPP)
  • Bureau of Land Management
  • Indian Tribal Forums
  • Maryland Public Service Commission (MPSC) and other state regulatory public service commissions
  • Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE)

International

  • Comisión Federal de Electricidad (CFE-Mexico)
  • Comisión Reguladora de Energía (CRE-Mexico)
  • Comisión Nacional de Energia (Honduras)