- Acquisition support. We represented Southwestern Energy Company in the sale of its local distribution company subsidiary.
- Anti-bribery legislation. We are advising various clients in the oil, gas and associated engineering and construction industries in the UK and elsewhere on compliance with the Bribery Act 2010 and the US FCPA.
- Anti-money laundering. We are advising the trading division of a global energy producer on anti-money laundering systems and controls and market conduct and abuse issues.
- Commodity transactions. We are advising a major investment bank in relation to a global revolving credit agreement in the aggregate principal amount of up to $1 billion for the financing of margin payments in relation to exchange-traded commodity broking and prime broking activity. The advice focused on the regulatory aspects of the commodity transactions (metals and soft commodities), margining and clearing, client money considerations and the regulatory capital impact.
- Export controls. We represented a US natural resources firm in a voluntary disclosure of millions of dollars in exports made in violation of US export controls. This matter concluded without the imposition of penalties.
- FERC approval. We represented hedge funds in obtaining FERC approval for investments in holding companies which own electric generating facilities and establishing compliance programs for future investments.
- Interstate transport. We have represented natural gas producers and local distribution companies before the US regulator, FERC, with respect to for interstate transportation services.
- Market dominance proceeding. We represented a European utility in its successful defense to the action of the UK regulator, Ofgem, under Article 82 and Chapter II of the Competition Act. Ofgem claimed that the utility’s withdrawal of meter-reading services in certain areas of the UK was an abuse of its market dominance. The case involved an attempt by Ofgem to use Article 82 and Chapter II in a novel and unprecedented way–to force the utility to continue to operate a business that it no longer wished to operate. Ofgem issued a formal decision exonerating the utility in 2007.
- Regulatory approval. We represented BP Alternative Energy North America Inc. in obtaining regulatory approvals for the acquisition of 535 MW Whiting Clean Energy electric generating facility.
- Regulatory approval. We represented an investment company in the acquisition of an interest in an interstate natural gas pipeline.
- Regulatory approval. We represented Fortis Bank S.A./N.V. in obtaining regulatory approval for its $700 million acquisition from Duke Energy of its Cinergy gas, power trading and marketing businesses in the US and Canada. The Houston-based company has been renamed Fortis Energy Marketing and Trading, GP. As part of the acquisition, our regulatory team obtained approval from the Federal Reserve Board to engage in energy trading activities as an activity “complementary” to activities that are financial in nature. We also advised Fortis on regulatory filings required by the Federal Energy Regulatory Commission.
- Trade sanctions. We are advising major energy trading firms on issues relating to trade sanctions, FSA regulation and the EU Regulation on Energy Market Integrity and Transparency.
- Trade sanctions. We counseled a global oil and gas company on the application to its US subsidiary and to its US supply chain of the US sanctions against Cuba.
- Trade sanctions. We are monitoring Iran sanctions legislation for a foreign company with US operations and evaluating the legislative implications for its global energy operations.
- Trading compliance. We represented a financial institution with regulatory issues relating to its natural gas- and electricity-trading activities.
- Trading regulation. We are advising on the financial services and other regulatory issues relating to the formation of a oil and gas trading entity dealing in physical and financial instruments.
- US acquisitions. We represented several financial institutions in the acquisition of interests of electric generating asset.
- US pipeline transportation agreement. We represented Southwestern Energy Company and Chesapeake Energy Corporation in the negotiation of precedent agreements with, and Federal Energy Regulatory Commission proceedings with respect to, major expansion of interstate pipelines and new pipelines for the transportation of crude oil NGLs.
- US pricing investigation. We assisted a major international energy distributor in various investigations conducted by the FTC, Congress and various state Attorneys General into the company’s pricing practices and in connection with a so-called “price gouging” investigation post-Hurricane Katrina.