Mayer Brown and the Institute for Energy Law’s (EIL) Oil Field Services Committee co-hosted the first of a multi-part series that addressed legal and practical solutions for oil field services (OFS) companies, which have weathered nearly six months of dramatically decreased oil prices.
Special guest David Cunningham, Managing Director and Co-Head of OFS IB at Tudor Pickering Holt & Co., and Mayer Brown Partners and speakers, Bob Gray and Charles Kelley, discussed topics which included:
- Counterparty contracting/bankruptcy—how to protect yourself when your E&P customers are in a distressed state (e.g., once they file, how to get paid or improve your position)
- Working with creditors committees and/or positioning yourself after a counter-party has filed for bankruptcy
- Obligations and duties during “insolvency”
- Key drivers for developing a successful restructuring strategy