Tag Archives: legal perspectives

Sabine Ruling: What Pipeline Companies Can Do To Protect Their Contracts

November 2016, Vol. 243, No. 11

Houston-based Sabine Oil & Gas Corp. recently announced confirmation of the oil and gas exploration and production company’s plan of reorganization, allowing it to emerge from its Chapter 11 bankruptcy proceeding with just $350 million of its original $2.8 billion in debt. Facilitating that outcome, to a significant degree, was a May decision by New York Bankruptcy Judge Shelley Chapman that allowed Sabine to reject approximately $100 million in contractual obligations owed to two pipeline companies premised upon her interpretation of contract language creating a “covenant running with the land.. That language is included in...

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Reasonable Rates of Return Benefits Pipelines and Shippers Alike

October 2016, Vol. 243, No. 10

On July 1, 2016, the U.S. Court of Appeals for the District of Columbia Circuit issued United Airlines, et al. v. FERC, et al., a decision with major rate implications for oil and gas pipelines subject to the jurisdiction of the Federal Energy Regulatory Commission (FERC). The Court’s decision calls into question the ability of MLPs, FERC-regulated pipelines – whether oil or gas – to include an income tax allowance in their cost-based rates. The dust surrounding the decision has yet to settle and is unlikely to do so for months, if not years. Given...

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