Energy > AG Speaking Energy
20 Jun '17

On June 19, 2017, the Comisión Nacional de Hidrocarburos (CNH) completed the Presentation and Opening of Bid Proposals for the First Tender of the Ronda Dos (“Round 2.1”), which was first announced on July 20, 2016. Round 2.1 attracted 36 bidders: 20 individual companies and 16 consortia, including Petroleos Mexicanos, DEA Deutsche Erdoel, Talos Energy, Noble Energy, Chevron, Shell, Total and ConocoPhillips.

Round 2.1 included 15 contract areas with an estimated four billion BOE of dry gas, wet gas, light oil, heavy oil and extra heavy oil located in the shallow waters of Veracruz, Tabasco and Campeche.

Click here to read the full alert.

Read More

12 Jan '17

(Houston) – Lawyers and advisors at Akin Gump held a briefing today, titled “The Global Energy Industry: A Look to the Year Ahead in 2017,” addressing some of the big issues likely to affect the global energy industry in the coming year. The event was held as an in-person briefing in the firm’s Houston office and as a webinar for participants around the world.

Read More

09 Jan '17

Globe Law & Business, in its new book Oil and Gas Sale and Purchase Agreements, has included several chapters written by Akin Gump lawyers. The chapters and their corresponding authors are as follows:

  • “Conditions precedent and deferred completions,” by oil and gas partner John LaMaster
  • “Oil and gas warranties,” by oil and gas counsel Caroline-Lucy Moran
  • “Environmental provisions in upstream acquisitions and divestitures,” by environment and natural resources partner emeritus Paul Gutermann
  • “Decommissioning,” by oil and gas counsel Nicholas Antonas and partner Marc Hammerson
  • “Anti-corruption provisions,” by international trade counsel Nicole D’Avanzo and partner Tatman Savio
  • Oil and gas boilerplate provisions,” by John LaMaster

Read More

06 Dec '16

On December 5, 2016, the Comisión Nacional de Hidrocarburos (“CNH”) conducted the Opening and Presentation of Bid Proposals Ceremony for the Ronda Uno, Fourth Tender (“Fourth Tender”). Simultaneously with the Fourth Tender, the CNH conducted the first ever partnership auction for Petróleos Mexicanos (“Pemex”). The unusual circumstance of Pemex being required to conduct a public auction administered by the CNH to select partners for upstream exploration and production came about thanks to the legal scheme introduced in the Mexican Energy Reform in 2014. This partner-selection process has been commonly referred to as a farmout (“Farmout”), even though the structure is really more of a sell down of Pemex interests in a given area. 

Read More

15 Nov '16

The dramatic decline in oil and gas prices that began in 2014 has led many financial sponsors and exploration and production companies to consolidate assets and focus their funds on areas that can generate economic returns despite the depressed oil prices. Recent transactions have evidenced that prospective buyers have become aggressive with respect to the size, scale, and price that they are willing to pay to gain contiguous acreage positions. If executed properly, there are clear benefits to basin consolidation; however, companies should carefully review and evaluate the risks attendant with their proposed acquisitions prior to making any investments.  

Read More

05 Oct '16

On September 29, Akin Gump hosted, in its Houston office, a program analyzing and discussing ongoing risks, challenges and opportunities in energy transactions, the third of its kind in the last year.

Moderated by global energy and transactions partner John Goodgame, the Akin Gump panelists were oil and gas partners Andrew Lehman and Phyllis Young and financial restructuring partners Charles Gibbs and Sarah Schultz, who joined high-level panelists from IOG Capital, Apollo Global Management, Simmons & Co. and Opportune.

Read More

22 Jul '16

(Houston) – On July 14, Akin Gump hosted its annual mid-year energy briefing, moderated by Houston partner in charge Christine LaFollette. Featuring partners from around the firm and across practices, the briefing focused on critical issues of interest to clients in and around the energy space.

Read More

05 May '16

As the spate of energy bankruptcies continues, trustees, shareholders, creditors, plaintiff’s firms and other interested parties are looking at ever more creative ways to maximize the recovery for their constituency or fight against total loss.  In a growing number of cases, this includes casting a critical eye on deals and the actions of officers and directors from years before.  Many directors, particularly independents and those appointed by financial sponsors, had little to worry about during the boom times when every deal seemed to be a home run and they took comfort in “knowing” that there was a directors and officers liability insurance (D&O) policy to back them up if something went wrong.  However, as parties scrutinize deals through the lens of hindsight with big dollars on the line and lightly-read policies are dusted off, many directors may find that, in bankruptcy, their D&O policy may not really be there for them.

Read More