Oil and Gas E&P Bankruptcies: Tackling the Unique Complexities of E&P Restructuring

Navigating Characterization of Oil and Gas Leases Under Sec. 365, Treatment of JOAs in Bankruptcy, Lien Priority, and DIP Financing

Recording of a 90-minute CLE webinar with Q&A

Conducted on Wednesday, August 31, 2016

Recorded event now available

or call 1-800-926-7926
Program Materials

This CLE webinar will provide legal advisers with guidance on the unique legal issues for exploration and production (E&P) companies in oil and gas restructurings. The panel will explain the factors making restructuring difficult, discuss the implications and potential ramifications, and outline strategic approaches for restructuring.


The sharp decline in oil prices has raised significant concerns in the oil and gas industry and the economies that rely on it. For distressed E&P companies and their lenders, there are significant legal issues and several factors that make restructuring especially complex.

Among the issues that E&P companies and their counsel face are the characterizations of oil and gas leases under §365 of the Bankruptcy Code, joint operating agreements (JOAs) in bankruptcy, lien priority, and debtor in possession financing. Counsel to distressed E&P companies, those engaged in business with them, and lenders must carefully consider the implications of the unique issues when framing a restructuring strategy.

Listen as our authoritative panel of practitioners examines the unique issues facing E&P companies in oil and gas restructurings. The panel will discuss debtor in possession financing; investor interests and recovery in bankruptcy; plugging and abandonment liability; oil & gas contractors’ liens; JOAs and farmout agreements in bankruptcy; and other issues. The panel will offer guidance for restructuring and the implications of special issues.



  1. Unique legal issues facing E&P companies
  2. Implications of the unique issues on restructuring
  3. Guidance for restructuring strategy


The panel will review these and other key issues:

  • What are the special issues facing oil and gas E&P companies when it is time to restructure or file for bankruptcy?
  • What impact will these unique issues have on restructuring?
  • What steps can counsel take to minimize the risk of fraudulent transfer in oil & gas transactions with distressed companies?


Sarah Link Schultz
Sarah Link Schultz

Akin Gump Strauss Hauer & Feld

Ms. Schultz represents debtors, official and unofficial committees of creditors, secured lender groups,...  |  Read More

Randy W. Williams
Randy W. Williams

Thompson & Knight

Mr. Williams focuses his practice on business bankruptcy and commercial disputes, with an emphasis on business...  |  Read More

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