Energy Industry Restructuring

Overview

For energy companies facing difficult choices in a down cycle, we provide an unparalleled combination of sophisticated bankruptcy experience and in-depth knowledge of the energy industry. Many of our lawyers have technical degrees and have worked at energy companies or with government agencies. We represent industry leaders across the globe in some of their most complex litigation and business matters. We know the energy business and what it takes to succeed.

We have offices coast to coast and handle the full spectrum of issues that arise in stressed and distressed situations, using innovative strategies and sophisticated skill sets to achieve the best possible results.

A Full Range of Capabilities

For much of our firm’s history, we have handled large- and middle-market commercial bankruptcy cases for clients regardless of the form of commercial enterprise. Our extensive experience in business workouts, complex reorganizations and bankruptcy proceedings – backed by attorneys throughout the country in our energy, litigation, employment, tax, environmental, real estate, securities and corporate practices – enables us to provide comprehensive counsel regarding creditor and debtor relations.

In the energy sector, this means we handle complex matters ranging from serving as lead counsel in Chapter 11 cases and workouts to representation of purchasers of distressed assets both in and out of court. Our team handles a wide range of liquidity-related issues such as refinancing and capital raises. We have been involved in some of the largest and most complex insolvency cases nationally and globally, most notably as counsel to Irving H. Picard, the SIPA Trustee overseeing the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS). But we also are highly attuned to cost sensitivities in more modestly sized matters. In every case, we are practical, timely and responsive.

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Our team plays a key role in advising:

  • Trustees, receivers and fiduciaries
  • Debtors
  • Creditors, purchasers of assets and other interested parties
  • Creditors’ committees
  • Secured creditors
  • Corporate boards and special committees
What We Can Do for You
  • Provide assistance to companies with liquidity issues, including out-of-court workouts and Chapter 11 filings.
  • Assist with the purchase of assets from distressed companies or bankruptcy estates.
  • Assist in the acquisition of debt of distressed companies.
  • Renegotiate agreements when liquidity of one of the parties is an issue.
  • Assist with the structuring of bankruptcy remote entities.
  • Assist unsecured creditors in bankruptcy cases with recovery and their selection as members of an Unsecured Creditors’ Committee.
  • Provide assistance with receiverships, including representation of receivers.
  • Defend litigation brought by debtors, trustees and receivers.

Select Experience

  • Serving as counsel and advisor to American Eagle Energy Corp. in its Chapter 11 filing in the United States Bankruptcy Court for the District of Colorado. American Eagle’s assets are based in the Williston Basin of North Dakota and Montana, part of the Bakken and Three Forks shales.
  • Representing the acquirer of the offshore assets of Dune Energy in connection with its Chapter 11 cases pending in the United States Bankruptcy Court for the Western District of Texas.
  • Serving as counsel to Black Elk Energy Offshore Operations, LLC in its Chapter 11 case pending in Houston, Texas. The assets are located in offshore Texas and Louisiana, and in federal waters.
  • Representing an international financial institution in connection with the Delta Petroleum Chapter 11 cases pending in the United States Bankruptcy Court for the District of Delaware.
  • Representing the Special Committee for BPZ Energy in connection with its Chapter 11 cases pending in the United States Bankruptcy Court for the Southern District of Texas.
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Experience

  • Serving as counsel and advisor to American Eagle Energy Corp. in its Chapter 11 filing in the United States Bankruptcy Court for the District of Colorado. American Eagle’s assets are based in the Williston Basin of North Dakota and Montana, part of the Bakken and Three Forks shales.
  • Representing the acquirer of the offshore assets of Dune Energy in connection with its Chapter 11 cases pending in the United States Bankruptcy Court for the Western District of Texas.
  • Serving as counsel to Black Elk Energy Offshore Operations, LLC in its Chapter 11 case pending in Houston, Texas. The assets are located in offshore Texas and Louisiana, and in federal waters.
  • Representing an international financial institution in connection with the Delta Petroleum Chapter 11 cases pending in the United States Bankruptcy Court for the District of Delaware.
  • Representing the Special Committee for BPZ Energy in connection with its Chapter 11 cases pending in the United States Bankruptcy Court for the Southern District of Texas.
  • Representing one of the largest creditors in the ERG Intermediate Holdings, LLC Chapter 11 cases pending in the United States Bankruptcy Court for the Northern District of Texas.
  • Representing an acquirer in its out-of-court acquisition of certain Louisiana offshore assets from a distressed exploration and production company.
  • Serving as counsel to Go Solar, LLC in its Chapter 11 case pending in Denver, Colorado. Go Solar assembles and installs solar panels.
  • Representing the secured lender in its out-of-court workout for a manufacturer of alternative energy products.
  • Representing potential acquirers of a manufacturer of alternative energy products.
  • Representing oil and gas servicers in workouts and restructurings.
  • Representing creditors in a number of oil and gas bankruptcy cases.

Recognition

  • Law360: Energy "Practice Group of the Year" (2015)
  • Chambers USA: Bankruptcy/Restructuring
    • Florida and Ohio
  • The Legal 500 United States: 
    • Finance - Corporate restructuring (including bankruptcy) (2015)
    • Energy: Litigation (2015, 2016, 2018)
  • U.S. News - Best Lawyers "Best Law Firms" (2016)
    • Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law
      • National Tier 1
    • Litigation - Bankruptcy
      • National Tier 1
    • Energy Law
      • National Tier 3
    • Natural Resources Law
      • National Tier 2
    • Oil & Gas Law
      • National Tier 3
  • Recognized as one of the top law firms for client service, BakerHostetler was named to the 2020 BTI Client Service 30 for the sixth consecutive year.

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