scholarly journals The Oil and Gas ROFR: Understanding Current ROFR Issues from the Point of View of the Transactional Lawyer, the Litigator, and In-House Counsel

2017 ◽  
Author(s):  
Donald G. MacDiarmid ◽  
Sean J. Korney ◽  
Melanie Teetaert ◽  
Julie J.M. Taylor ◽  
Robert Martz ◽  
...  
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Point Of View ◽  
Economic Consequences ◽  
Complex Nature ◽  
Gas Industry ◽  
Industry Standard ◽  
The Law ◽  
To Come ◽  
Corporate Lawyers

Rights of first refusal and other preferential or pre-emptive rights (together, ROFRs, and individually a ROFR) routinely find their way into oil and gas industry agreements. Disputes often arise because of the complex nature and significant economic consequences of ROFRs. In recent years, a number of reported cases, either relating directly to ROFRs or more generally relating to contractual interpretation, have clarified (or at times muddied) the waters surrounding the use, application, and interpretation of ROFRs. However, most ROFR disputes never result in a reported decision because the parties typically negotiate solutions long before trial.The authors consider current trends involving ROFRs in oil and gas agreements, and how they believe the law and legal practice surrounding ROFRs might continue to evolve in the years to come. The authors do not attempt to rehash the fundamentals of the law surrounding ROFRs; instead, they focus on how the courts have dealt with ROFRs in recent cases as well as how corporate lawyers and in-house counsel grapple with ROFRs day-today. The authors utilize the ROFR provisions found in industry standard contracts to analyze outstanding areas of uncertainty as well as what lawyers should contemplate prior to including a ROFR in an agreement. Additionally, the article examines the implications of recent rulings on the duty of good faith that may affect ROFRs. Finally, the article considers selected subjects of topical interest, including ROFRs in the context of busted butterfly transactions, insolvency proceedings, and package deals.

Russian Scanners for Eddy Current Testing of Drilling Pipe Elements in the Oil and Gas Industry

NDT World ◽  
2020 ◽  
pp. 5-8
Author(s):  
Aleksandr Kazachenko
Keyword(s):  
Control Charts ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Complex Problem ◽  
Point Of View ◽  
Destructive Testing ◽  
Gas Industry ◽  
Shewhart Control ◽  
Inspection Process ◽  
Composite Pipes

Composite materials appear to be an ideal solution to a complex problem with conflicting conditions: how to simultaneously obtain sufficient strength, reliability and durability of the structure, while providing the minimum possible mass of it. However, non-destructive testing of products from them raises more and more questions. In the mass production of composite pipes for pipelines, the only possible option from the point of view of ensuring the necessary reliability, information capacity of the results of the performed inspection of products and productivity is the automation of the inspection process, which includes special methods for identifying defects. Statistical methods, including capability ratio and Shewhart control charts, should be used to estimate the error in determining the size of defects.

Interpreter Sam

2019 ◽  
Vol 38 (12) ◽  
pp. 980-980
Keyword(s):  
Human Resources ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Graduate Degree ◽  
Career Goal ◽  
Gas Industry ◽  
Personal Learning ◽  
To Come ◽  
A Company ◽  
Personnel Department

Sam traveled back about two-thirds of a lifetime to see a young man, the proud owner of a newly awarded graduate degree and married for only two weeks, walking into the lobby of the building where he would start his career as a geophysicist in the oil and gas industry. He carried a personalized leather briefcase, a gift from his parents which was very fashionable in those days; he doesn't remember any details of its contents. By his own estimate he was confident, but not too confident, and undoubtedly was much more nervous and apprehensive than he realized at the time. After only a few years and still on a very steep segment of his personal learning curve, he chose to take a position with a different company, necessitating relocation of his family to another state. At his new company a representative of the Personnel department (the language hadn't evolved to Human Resources yet) asked him, “What is your primary career goal?” Instinctively and without hesitation he replied, “I want to be the best geophysicist you have.” He couldn't have imagined how often the substance of his response would motivate and guide him in years to come, nor could he have known at the time that there is no such person as the “best geophysicist” in a company (see Interpreter Sam in the October 2008 issue of TLE). Certainly there is an “only geophysicist” in some companies, but …

scholarly journals Current Environmental Regulation of the Alberta Oil and Gas Industry and Emerging Issues

1990 ◽  
Vol 28 (1) ◽  
pp. 171
Author(s):  
Albert J. Hudec ◽  
Joni R. Paulus
Keyword(s):  
Environmental Regulation ◽  
Oil And Gas ◽  
Environmental Law ◽  
Insurance Coverage ◽  
Oil And Gas Industry ◽  
Environmental Damage ◽  
Regulatory Structure ◽  
Gas Industry ◽  
Emerging Issues ◽  
The Law

As the environmental law regime in Alberta becomes increasingly detailed and stringent, participants in the oil and gas industry will face greater liability arising from environmental damage. This paper reviews the current provincial environmental regulatory structure as it applies to the oil and gas industry. Prospective developments in the law are also considered. The drafting of operating agreements, sale of oil and gas assets, and the liability of subsequent users are discussed in this context. Insurance coverage for environmental damage and the liability of lenders are also examined.

scholarly journals Rights and Remedies of an Operator Vis-A-Vis a Defaulting Non-Operator under Joint and Unit Operating Agreements

1969 ◽  
pp. 288
Author(s):  
Richard H. Bartlett
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
The Law

"The oil and gas industry is not law unto itself and must operate within the strictures of the general principles of the law of contract and property." Within this framework, the author examines typical terms and conditions of Joint and Unit Operating agreements with view to discerning the nature of the operators' rights and remedies as against defaulting non-operator. Inadequate safeguards within the agreements and inequitable remedies at law are found to exist causing the author to make recommendations as to the drafting of agreements and the enactment of statutory provisions to improve this disadvantageous position.

Contemporary fiscal issues impacting M&A in the oil and gas sector

2012 ◽  
Vol 52 (1) ◽  
pp. 149
Author(s):  
Kenneth Wee
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Regular Feature ◽  
Gas Industry ◽  
Resource Rent ◽  
Petroleum Resource ◽  
Recent Developments ◽  
Australian Economy ◽  
To Come ◽  
Oil And Gas Sector

Ongoing growth in deal activity in the oil and gas industry is one of the critical forces underpinning the sustained robustness of the Australian economy. Australian oil and gas assets continue to attract significant international interest and are actively pursued by global and domestic investors alike. On the supply side, exploration players are seeking the necessary funding and technical support to commercialise prospective oil and gas discoveries, while on the demand side, major established oil and gas companies are seeking to acquire viable targets as a means of rapidly replenishing their reserves. Consequently, merger and acquisition (M&A) deals and asset trades have become a regular feature of the corporate oil and gas scene in Australia. In time to come, a wave of industry consolidation is likely to emerge. This paper discusses key fiscal aspects of M&A transactions, as affected by recent developments in the Australian taxation landscape, and their impact on the overall economics of, and extracting value from, an investment in the oil and gas sector, including: the taxation of farm-in/farm-out arrangements, asset swaps and carry arrangements; structuring the deal consideration for fiscal efficiency; takeover and acquisition vehicle structures; the M&A issues associated with the extension of the Petroleum Resource Rent Tax (PRRT) to the onshore oil and gas industry; consideration associated with capital management, capital structure and financing trends for the industry; exit and repatriation routes—do all roads lead to tax?; managing transaction costs; and, managing tax risks in M&A deals.

The Assessment of Environmental Responsibilityof Oil and Gas Companies Operating in Russia: the Rating Approach

2015 ◽  
Vol 2015 (5) ◽  
pp. 46-67
Author(s):  
Evgeniy Shvarts ◽  
Aleksey Knizhnikov ◽  
Alexandr Pakhalov ◽  
Marina Sheresheva
Keyword(s):  
Oil And Gas ◽  
Positive Impact ◽  
Oil And Gas Industry ◽  
Comprehensive Analysis ◽  
Comparative Assessment ◽  
Point Of View ◽  
Environmental Responsibility ◽  
Gas Industry ◽  
Qualitative And Quantitative ◽  
Oil And Gas Companies

The paper analyses methodological features and results of the first Russian oil and gas companies environmental rating. This rating is relevant because Russian oil and gas industry plays a key role in the national economy and at the same time it is unfavorable and nontransparent from an environmental point of view. Our study aims to provide a comparative assessment of environmental responsibility of oil and gas companies operating in Russia. The study is based on a comprehensive analysis of qualitative and quantitative corporate indicators in three areas: environmental management, environmental impact and disclosure. Results of the rating indicate a high differentiation among Russian oil and gas companies in terms of environmental responsibility and transparency. Public listing of shares as well as linkages between shareholders and regional communities are among factors that have positive impact on the level of environmental responsibility of oil and gas companies.

scholarly journals Damages for Breach of an Express Drilling Covenant

1970 ◽  
Vol 8 (2) ◽  
pp. 250
Author(s):  
Maurice J. Sychuk
Keyword(s):  
Oil And Gas ◽  
Market Value ◽  
Oil And Gas Industry ◽  
Gas Production ◽  
Gas Industry ◽  
Oil And Gas Production ◽  
Legal Problems ◽  
Special Rule ◽  
The Law

Although legal problems of oil and gas production are governed by general principles of the law of property, contracts, torts, etc., there are certain situations in the oil and gas industry where these rules do not quite fit, and if they do fit, their application is so strained that the rule becomes a special rule, and becomes a part of that separate body of law referred to as oil and gas law. Damages for breach of an express drilling covenant is such an area. This article distinguishes a covenant to drill a well from a covenant to protect against drainage and from a covenant of reasonable development, discusses the four rules that have been used by the courts in assessing damages for breach of a covenant to drill a well, analyzes the Canadian decisions on breach of a covenant to drill a well and concludes that, in a situation where the plaintiff and the defendant both have an interest in the property on which the well is to be drilled, the Canadian courts will grant damages for breach of a covenant to drill a well on the basis of the loss of royalty rule and on the basis of the loss of market value rule.

scholarly journals Recent Developments in the Law of Interest to Oil and Gas Lawyers

1987 ◽  
Vol 26 (1) ◽  
pp. 152
Author(s):  
Robert P. Desbarats ◽  
Donald E. Greenfield ◽  
Michael J. Hopkins
Keyword(s):  
Income Tax ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Judicial Decisions ◽  
Tax Legislation ◽  
Recent Developments ◽  
Federal Income Tax ◽  
The Law

The purpose of this paper is to discuss recent developments in the law which are of interest to lawyers whose practices relate to the oil and gas industry. The paper deals with both judicial decisions and statutory developments during the last year. Some of the cases discussed do not pertain directly to the oil and gas industry, but have been included either because they involve situations analogous to those which occur in the oil and gas business or because they concern principles of law which are applicable to that industry. In order to place some limit on the scope of the paper, only federal and Alberta legislative developments are reported. In addition, we have not discussed federal income tax legislation. The review of legislation is effective as of June 1,1987.

scholarly journals Recent Developments in the Law of Interest to Oil and Gas Lawyers

1982 ◽  
Vol 20 (1) ◽  
pp. 179
Author(s):  
Robert T. Booth ◽  
Robert P. Desbarats
Keyword(s):  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Judicial Decisions ◽  
Recent Developments ◽  
The Law

The purpose of this paper is to discuss recent developments in the law which are of in terest to lawyers in the field of oil and gas. It deals with both statutory developments and judicial decisions, the bulk of the paper being devoted to a review of the cases reported in the last year. Many of the cases discussed do not pertain directly to the oil and gas industry. These cases have been included either because they involve situations analogous to those which occur frequently in the oil and gas business or because they apply principles of law which are applicable to this industry.

Sign in / Sign up

Export Citation Format

Share Document