The downturn in the oil commodity price starting in 2014 had a chilling effect on oil and gas M&A. However, recent price stabilisation has improved the outlook for M&A activity, making a second edition of this book most timely.A feature of the M&A industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than ever before, and companies specialising in end-of-life reservoirs are filling the spaces left as oil majors go in search of new opportunities. Transaction types are also diverse and are completed using a variety of different deal structures. As well as providing chapters on each type of acquisition method, this book also includes an analysis of the underlying structuring decisions.In addition, this practical guide covers a number of ancillary areas, including valuations, financing, tax and accounting. Decommissioning liability is also considered in an M&A context. A number of new chapters are also featured, covering topics such as competition law, environmental law and dealing with material adverse changes.This comprehensive new edition will prove an essential resource to anyone involved in the upstream industry M&A process including lawyers, bankers, financiers, business executives, accountants and tax advisers.

The downturn in the oil commodity price starting in 2014 had a chilling effect on oil and gas M&A. However, recent price stabilisation has improved the outlook for M&A activity, making a second edition of this book most timely.A feature of the M&A industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than ever before, and companies specialising in end-of-life reservoirs are filling the spaces left as oil majors go in search of new opportunities. Transaction types are also diverse and are completed using a variety of different deal structures. As well as providing chapters on each type of acquisition method, this book also includes an analysis of the underlying structuring decisions.In addition, this practical guide covers a number of ancillary areas, including valuations, financing, tax and accounting. Decommissioning liability is also considered in an M&A context. A number of new chapters are also featured, covering topics such as competition law, environmental law and dealing with material adverse changes. This comprehensive new edition will prove an essential resource to anyone involved in the upstream industry M&A process including lawyers, bankers, financiers, business executives, accountants and tax advisers.

As certain oil and gas provinces near the end of their production lives, companies, governments and other stakeholders are turning their attention to decommissioning. The price of disposing of oil and gas installations is enormous. Yet the costs of getting it wrong can be even greater.Part A of this fully updated second edition looks at decommissioning and the oil and gas life cycle. Part B contains chapters on decommissioning and international law. Part C focuses on decommissioning in the North Sea and contains chapters on government policy, environment law, offshore contracting, health and safety, financial and technical issues, further examined using a case study from a completed North Sea decommissioning project. Part D provides an international comparative analysis, with new chapters on Denmark, Namibia, Netherlands and New Zealand.As well as decommissioning professionals, this title will be of interest to oil and gas executives, lawyers, environmental consultants, tax advisers, accountants, insurers, investment bankers, academics and other professionals connected to the oil and gas industry.

As certain oil and gas provinces near the end of their production lives, companies, governments and other stakeholders are turning their attention to decommissioning. The price of disposing of oil and gas installations is enormous. Yet the costs of getting it wrong can be even greater.Part A of this fully updated second edition looks at decommissioning and the oil and gas life cycle. Part B contains chapters on decommissioning and international law. Part C focuses on decommissioning in the North Sea and contains chapters on government policy, environment law, offshore contracting, health and safety, financial and technical issues, further examined using a case study from a completed North Sea decommissioning project. Part D provides an international comparative analysis, with new chapters on Denmark, Namibia, Netherlands and New Zealand.As well as decommissioning professionals, this title will be of interest to oil and gas executives, lawyers, environmental consultants, tax advisers, accountants, insurers, investment bankers, academics and other professionals connected to the oil and gas industry.

Oil and gas contracts are shaped by national and international laws that relate to common industry transactions. With standardised contracts being used across different jurisdictions, it is important that these legal principles are properly understood. The increasing scarcity of natural resources makes it more, rather than less, likely that legal issues will be tested in the oil and gas sector. This title seeks to explore industry issues using a new approach. It includes comprehensive commentaries on topics in the oil industry and links these with edited extracts from underlying legal texts. The reader benefits from the combination of both a full analysis of key legal issues and selected passages of text from legal sources. Taking exploration and production in the United Kingdom as its subject matter, the book also cites other jurisdictions by way of comparative study and on issues where the United Kingdom lacks decided case law. It also sets out the various international conventions and European laws which directly or indirectly form the basis of UK law and government practice and policy. Chapters cover exclusive licences, joint operating agreements, unitisation agreements and gas sales agreements. The book also analyses issues such as ownership of petroleum, the law of capture, rights of exploitation, the legal nature of exclusive licences, decommissioning, investor protection and human rights based on the principal legal obligations of parties and governments. Author Marc Hammerson is a partner at Akin Gump. He has extensive experience advising energy majors and independent energy companies on upstream and downstream oil and gas and power.

The downturn in the oil commodity price starting in 2014 had a chilling effect on oil and gas M&A. However, recent price stabilisation has improved the outlook for M&A activity, making a second edition of this book most timely.A feature of the M&A industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than ever before, and companies specialising in end-of-life reservoirs are filling the spaces left as oil majors go in search of new opportunities. Transaction types are also diverse and are completed using a variety of different deal structures. As well as providing chapters on each type of acquisition method, this book also includes an analysis of the underlying structuring decisions.In addition, this practical guide covers a number of ancillary areas, including valuations, financing, tax and accounting. Decommissioning liability is also considered in an M&A context. A number of new chapters are also featured, covering topics such as competition law, environmental law and dealing with material adverse changes.This comprehensive new edition will prove an essential resource to anyone involved in the upstream industry M&A process including lawyers, bankers, financiers, business executives, accountants and tax advisers.

The downturn in the oil commodity price starting in 2014 had a chilling effect on oil and gas M&A. However, recent price stabilisation has improved the outlook for M&A activity, making a second edition of this book most timely.A feature of the M&A industry has always been its variety of participants, ranging from integrated energy conglomerates to entrepreneurial frontier explorers. New entrants include state-owned oil companies, financial investors, diversifying service contractors and oil traders. With the growth of specialist stock markets, junior and independent oil companies are better able to raise acquisition finance than ever before, and companies specialising in end-of-life reservoirs are filling the spaces left as oil majors go in search of new opportunities. Transaction types are also diverse and are completed using a variety of different deal structures. As well as providing chapters on each type of acquisition method, this book also includes an analysis of the underlying structuring decisions.In addition, this practical guide covers a number of ancillary areas, including valuations, financing, tax and accounting. Decommissioning liability is also considered in an M&A context. A number of new chapters are also featured, covering topics such as competition law, environmental law and dealing with material adverse changes. This comprehensive new edition will prove an essential resource to anyone involved in the upstream industry M&A process including lawyers, bankers, financiers, business executives, accountants and tax advisers.

As certain oil and gas provinces near the end of their production lives, companies, governments and other stakeholders are turning their attention to decommissioning. The price of disposing of oil and gas installations is enormous. Yet the costs of getting it wrong can be even greater.Part A of this fully updated second edition looks at decommissioning and the oil and gas life cycle. Part B contains chapters on decommissioning and international law. Part C focuses on decommissioning in the North Sea and contains chapters on government policy, environment law, offshore contracting, health and safety, financial and technical issues, further examined using a case study from a completed North Sea decommissioning project. Part D provides an international comparative analysis, with new chapters on Denmark, Namibia, Netherlands and New Zealand.As well as decommissioning professionals, this title will be of interest to oil and gas executives, lawyers, environmental consultants, tax advisers, accountants, insurers, investment bankers, academics and other professionals connected to the oil and gas industry.

As certain oil and gas provinces near the end of their production lives, companies, governments and other stakeholders are turning their attention to decommissioning. The price of disposing of oil and gas installations is enormous. Yet the costs of getting it wrong can be even greater.Part A of this fully updated second edition looks at decommissioning and the oil and gas life cycle. Part B contains chapters on decommissioning and international law. Part C focuses on decommissioning in the North Sea and contains chapters on government policy, environment law, offshore contracting, health and safety, financial and technical issues, further examined using a case study from a completed North Sea decommissioning project. Part D provides an international comparative analysis, with new chapters on Denmark, Namibia, Netherlands and New Zealand.As well as decommissioning professionals, this title will be of interest to oil and gas executives, lawyers, environmental consultants, tax advisers, accountants, insurers, investment bankers, academics and other professionals connected to the oil and gas industry.

Oil and gas contracts are shaped by national and international laws that relate to common industry transactions. With standardised contracts being used across different jurisdictions, it is important that these legal principles are properly understood. The increasing scarcity of natural resources makes it more, rather than less, likely that legal issues will be tested in the oil and gas sector. This title seeks to explore industry issues using a new approach. It includes comprehensive commentaries on topics in the oil industry and links these with edited extracts from underlying legal texts. The reader benefits from the combination of both a full analysis of key legal issues and selected passages of text from legal sources. Taking exploration and production in the United Kingdom as its subject matter, the book also cites other jurisdictions by way of comparative study and on issues where the United Kingdom lacks decided case law. It also sets out the various international conventions and European laws which directly or indirectly form the basis of UK law and government practice and policy. Chapters cover exclusive licences, joint operating agreements, unitisation agreements and gas sales agreements. The book also analyses issues such as ownership of petroleum, the law of capture, rights of exploitation, the legal nature of exclusive licences, decommissioning, investor protection and human rights based on the principal legal obligations of parties and governments. Author Marc Hammerson is a partner at Akin Gump. He has extensive experience advising energy majors and independent energy companies on upstream and downstream oil and gas and power.