(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.
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
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.