Oil & Gas – Business Restructuring

Whether a business’s need for restructuring arises from—or in anticipation of—growth, merger and acquisition activity, tax needs, or financial problems, Clark Hill attorneys provide seasoned advice regarding the reformation of business structures, whether simple or complex.

We counsel companies on insolvency protection during the structuring of business transactions, provide due diligence during financial reorganizations, and assist with asset protection. We help our energy clients with “business divorce” issues, including the unwinding of partnerships and other legal relationships. We also devise restructuring solutions for distressed companies including pre-bankruptcy loan, lease, and bond defaults, and additionally can assist with loan restructuring and refinancing, including debtor-in-possession financing.

If restructuring cannot resolve a business’s financial difficulties, Clark Hill can assist in other ways. We represent clients (including our bank, mezzanine, and other lending clients) in workouts and bankruptcies, to help them address problematic energy loans and related collateral. Our attorneys devise practical plans for our energy clients facing financial distress – including with banks or other lenders – and for other clients with concerns about the financial viability of their business partners.

We have represented:

  • lenders;
  • public and privately held debtors;
  • creditors’ committees;
  • secured and unsecured creditors;
  • mineral lien holders;
  • mineral owners;
  • royalty owners; and
  • mineral lessees.

In the course of such representations, Clark Hill attorneys have defended clients against claims for fraudulent transfer, voidable preferences, and breaches of fiduciary duties brought by bankruptcy trustees and other third parties.

EXPERIENCE

  • Represented exploration and production company in the bankruptcies of multiple oilfield service companies.
  • Represented debtor in Chapter 11 of a publicly-traded E&P company, resulting in the successful acquisition of the company
  • Represented general contractors and subcontractors in refinery and chemical plant bankruptcies
  • Represented oil field service companies in enforcing mineral lien rights against insolvent customers
  • Represented several marine transportation companies as creditors of bankrupt customers, addressing issues arising out reclamation and administrative claims, executory contracts, voidable preferences, and asset purchases
  • Represented Creditors’ Committees in Chapter 11s of Texas E&P companies
  • Represented secured lenders in out of court restructuring and bankruptcies involving upstream and service companies
  • Represented upstream company in protecting seismic data licenses in the Global Geophysical Services, Inc. bankruptcy case
  • Represented midstream company in enforcing claims and maritime liens in the O.W. Bunker bankruptcy case
  • Represented midstream company in enforcing claims in the Cal Dive International, Inc. bankruptcy case
  • Represented upstream company in enforcing claims in the New Gulf Resources bankruptcy case
  • Represented upstream company in enforcing royalty interest in Sabine Oil & Gas bankruptcy case
  • Represented service company in enforcing claims in the Swift Energy Company bankruptcy case
  • Represented upstream company in enforcing claims in connection with decommissioning obligations in Harvest Oil & Gas Co. bankruptcy case
  • Defended midstream & service companies in preference and avoidance actions brought by Trustees to recover prepetition payments

Experience

Representation of a public oil and energy exploration company in its strategic acquisition/merger of another public oil and energy exploration company.

Represented oil and gas exploration company regarding formation of oil and gas well drilling programs.
Represented mineral owners for oil and gas lease negotiations.
Represented financial institutions as lender to exploration companies.
Represented international power producer in litigation brought by state attorney general resulting in dismissal of claims