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Energy Deal Making: Current Trends and Tensions

Recorded on: Jun. 14, 2012
Running Time: 01:11:18

Taken from the briefing Energy Deal Making: Current Trends and Tensions recorded June 2012.

A high level of oil and gas deal activity continues and reflects the current oversupply of natural gas, a keen continuing interest in oil and natural gas liquids with significant additional drilling potential, and deal risks raised by various regulatory developments.  Deal terms reflect different approaches to address these issues.

Lecture Topics  [Total Time: 01:11:18]

Phillip R. Clark and Steven B. Richardson of Bryan Cave HRO iscuss current deal issues including:

  • The effects of current natural gas prices, and future pricing assumptions, including companies selling down natural gas leasehold positions, due diligence issues including short remaining lease terms for high value development locations, efforts to hold leases, effects of increasingly sophisticated continuous drilling clauses and Pugh clauses in leases and the implied covenant to develop
  • Recent joint ventures in the Bakken and other areas between oil companies and between non-industry investors and oil companies
  • Effects of fracing moratoriums at state and local levels and force majeure clauses in leases and exploration agreements
  • Issues with infrastructure and pipeline constraints
  • Leasing terms including continuous drilling and Pugh clauses and conflicts with planned surface development
  • Spacing and pooling trends and effects on transactions with high value horizontal development locations
  • Preferential rights, indemnities, retained and assumed liabilities and other deal issues unique to oil and gas transactions

Presentation Material

  • Energy Deal Making: Current Trends and Tensions
    Phillip R. Clark,Steven B. Richardson
Speaker(s)
Phillip R. Clark ~ Bryan Cave HRO
Steven B. Richardson ~ Bryan Cave HRO

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