Monthly Archives

February 2011

Representation: Tri-Union Development Corporation – Chapter 11

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Participating Attorneys: Hughes, Patrick L., Jackson, Donald D., Terry, Eric
Services: Bankruptcy and Business Restructuring, Bankruptcy and Insolvency Litigation, Unsecured Creditor, Restructuring, Workouts, and Recapitalizations, Energy and Petrochemical Industry, Debtors and Debtors-in-Possession, Energy, Oil and Gas Exploration and Production, Energy Finance

Description: Representation of an operating oil and gas exploration debtor company in reorganizing its secured, unsecured and governmental obligations associated with the operation of onshore and offshore oil and gas properties. Included in the representation was an analysis of hedged positions for the sale of physical oil and gas production in a rising market, the restructuring of significant second lien secured bond indebtedness held under trust indenture, and the negotiation and resolution of substantial onshore and offshore plugging and abandonment and environmental obligations owed to state and federal authorities. Included in the proceeding was litigation over payment of royalty claims, litigation concerning the design and resolution of decommissioning obligations for offshore platforms and wells, and litigation with co-owners and other parties in interest over continuation of oil and gas leases and farm out agreements. Reported decision in the case addressing satisfaction of offshore well obligations: In re Tri-Union Dev. Corp., 314 B.R. 611 (Bankr. S.D. Tex. 2004) andIn re Tri-Union Dev. Corp., 349 B.R. 145 (Bankr. S.D. Tex. 2006)