Recent Publications

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. >>

Administration Raises Gulf of Mexico Oil Spill Penalty Cap By 77 Percent

The Bureau of Ocean Energy Management has issued a final rule increasing the limit of liability for damages under the Oil Pollution Act to $133.65 million. >>

Denton’s Fracking Ban: Will “Civil Authority” Insurance Coverage Apply to Lessees’ Loss of Natural Gas Revenues?

On November 4, 2014, voters in Denton made that city the first in Texas to ban hydraulic fracturing within city limits. >>

BSEE Initiates Rulemaking on Helicopter Facilities and Helidecks

The Bureau of Safety and Environmental Enforcement (“BSEE”) issued an Advance Notice of Proposed Rulemaking (“ANPR”) on September 24, 2014 seeking comments on improving safety for operations related to helicopters, helidecks and aviation fuel systems on fixed offshore facilities. >>