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- Energy
- Oil and Gas
Covington has decades of experience representing participants in the upstream oil and gas industry as well as in proceedings and transactions involving a wide variety of downstream activities. We have appeared before courts and arbitral tribunals in a variety of disputes, dealt with regulators, and advised parties in an assortment of transactional and advisory work. We draw on Covington’s regulatory and policy expertise to enhance our skills as we handle domestic, cross-border and international matters.
Oil and Gas - Downstream
Representative work in the downstream industry includes pipeline transportation of natural gas, crude oil, and refined products, refining of oil and processing of petrochemicals, commodities trading, wholesale fuel distribution, and retail fuel marketing. In addition to the team’s expertise in related litigation, arbitration and investigations, our corporate practice in the oil and gas industry covers a broad range of transactional and advisory work, including securities, corporate governance, mergers and acquisitions, finance, private equity, venture capital, strategic alliances and joint ventures, bankruptcy, and real estate.
Oil and Gas - Upstream
Our team of lawyers with upstream experience includes Steve Rosenbaum, who was recently named one of four “Energy MVPs” in the United States by Law360 for his work on various offshore development lawsuits. Matters handled by our team include litigation and arbitration proceedings, rulemakings and investigations by regulatory agencies and congressional committees, and corporate transactions for exploration and production businesses.
We represent oil and gas clients in some of their most significant disputes, including lawsuits and arbitrations involving multi-billion dollar controversies. We frequently represent energy clients in litigation and arbitration, governmental investigations and enforcement actions, and administrative proceedings. Our lawyers represent energy sector clients and investors in proceedings constituted by the International Center for Settlement of Investment Disputes (ICSID), the Iran-U.S. Claims Tribunal, the International Chamber of Commerce (ICC), the London Court of International Arbitration (LCIA), and the Stockholm Chamber of Commerce, as well as ad hoc tribunals in various forums.
Defense of Lawsuits Raising Environmental Challenges
All the major domestic oil and gas trade associations in defending multiple ongoing district court and court of appeals lawsuits raising environmental challenges to continued exploration and development in the Gulf of Mexico and elsewhere.
ICSID Arbitration Against Latin American State
A French oil and gas independent in an ICSID arbitration against a Latin American state, in a dispute arising out of alleged breaches of a bilateral investment treaty and several production sharing agreements.
U.S. Sanctions Application Advice
Advised major international oil and gas companies concerning the application of U.S. sanctions against Iran, Syria, and other U.S.-sanctioned countries to their businesses.
SEC Disclosure Issues and Inquiries from SEC's Office of Global Security Risk
Publicly traded oil and gas companies on SEC disclosure issues associated with dealings in U.S.-sanctioned markets and in responding to inquiries from SEC’s Office of Global Security Risk.
Middle East Trade Sanction Programs Impact Advice
A multinational oil and gas company in advising on the impact of Middle East trade sanctions programs on technology licensing arrangements and the broader operation of affiliates and joint ventures incorporated outside the United States.
$5.8 billion Atlas Pipeline Merger
Represented The Special Conflicts Committee of the Board of Directors of Atlas Pipeline Partners, L.P. in its $5.8 billion merger with Targa Resource Partners LP.
Activist Shareholder Proxy Contest for Board Seats
Represented SandRidge Energy in a proxy contest brought by TPG-Axon Capital Management LP and representation of the company and the Board of Directors in corporate governance matters. SandRidge settled its proxy contest.
Atlas Pipeline Merger
Represented The Special Conflicts Committee of the Board of Directors of Atlas Pipeline Partners, L.P. in its $5.8 billion merger with Targa Resource Partners LP.
Representation of European Oil and Gas Client in Investment Dispute
Advising a European oil and gas company on an investment-related dispute in Uzbekistan.
Representation of Investment Company in $80 Million Dispute
Representing an investment company in an LCIA arbitration relating to an oil terminal connected to the CPC Pipeline near the Black Sea. The value in dispute is over $80 million.
ExxonMobil Transactions
Representation of ExxonMobil Corporation in numerous transactions, including its $41 billion acquisition of XTO Energy Inc., the largest transaction in the history of the natural gas industry.
Ameron International Antitrust Clearance
Represented oilfield services company Ameron International in obtaining antitrust clearance for its acquisition by National Oilwell Varco.
Joy Global Transactions
Advised Joy Global in connection with several transactions, including its acquisition of LeTourneau Technologies from Rowan Companies and its sale of LeTourneau’s drilling systems and offshore products businesses to Cameron International.
Kerr-McGee Acquisition
Represented Kerr-McGee Corporation in its $18 billion sale to Anadarko Corporation.
Representing Oil and Gas Companies on Export Control Regulations
Advising companies in the oil and gas sector on U.S. and EU export control regulations as relevant to doing business in Russia.
India Refinery Expansion Project
Advised the lenders to the expansion of a refinery in India.
Representation of BP on Baku-Tbilisi-Ceyhan Pipeline Regulatory Considerations
Advised BP on its compliance with environmental, social, and economic conditions imposed by international public lenders in connection with financing of the Baku-Tbilisi-Ceyhan pipeline.
Representation of Baltic Oil Terminals plc in a $10.8 Billion Acquisition
Advised Baltic Oil Terminals plc, an oil and gas infrastructure business with operations in Russia, on its $10.8 million acquisition of Petroval Bunker International B.V., a fuel oil storage business based in Rotterdam, and on a placing to fund the consideration for the acquisition.
Petrochemical Project in Saudi Arabia
Advised the lenders to a petrochemical complex in the industrial city of Jubail, Saudi Arabia.
Oil and Gas Project in Africa
An energy company on an oil and gas project in the Democratic Republic of Congo.
Oil and Gas Joint Venture
Baltic Petroleum in financing arrangements for joint venture with Siberian Energy Group to run Zauralneftegaz oil and gas exploration business in the Russian Federation.
Middle East Petroleum Company on Two $100 Million Credit Facilities
Tasweeq, the government-owned marketer of all commodity petroleum products produced in Qatar, in two $100 million credit facilities.
Qatari LNG Project
Advised the lenders on one of the Qatari LNG expansion trains.
Middle East LNG Liquefaction Plant
Advised the project company during the structuring stages of an LNG liquefaction plant in the Middle East.
Russia Oil and Gas Exploration Business
Baltic Petroleum in financing arrangements for joint venture with Siberian Energy Group to run Zauralneftegaz oil and gas exploration business in Russian Federation.
SandRidge Sale of Permian Basin Oil and Gas Assets
Represented SandRidge Energy in its $2.1 billion sale of oil and gas assets in the Permian Basin to Sheridan Production Partners.
April 17, 2017, Covington Alert
On April 7, 2017, the SEC’s Division of Corporation Finance (the “Division”) issued a statement indicating that it will not recommend enforcement action to the SEC if companies subject to the SEC’s conflict minerals reporting rule only file disclosure under the provisions of paragraphs (a) and (b) of Item 1.01 of Form SD, and not under paragraph (c) of Item 1.01. As discussed below, the statement means that a company will not face the risk of an enforcement action if it fails to conduct the supply chain due diligence called for by paragraph (c) of Item 1.01 and does not file a Conflict Minerals Report, even when it would otherwise be required to take such steps. The Division’s statement is available here.
February 27, 2017
NEW YORK—Latinvex has named Covington partners Gabriel Mesa and Nicole Duclos among “Latin America’s Top 100 Lawyers” in 2017. Mr. Mesa counsels corporations in joint ventures and private mergers and acquisitions in Latin America and other emerging markets, as well as in the United States. A client described Mr. Mesa as "an excellent lawyer,” noting that his ...
February 3, 2017, Global Investigations Review
Ian Hargreaves and David Lorello are quoted in a Global Investigations Review article regarding Hargreaves’ recent arrival to Covington. According to Hargreaves, the firm’s “pre-eminence in dispute resolution, and its immense strength and global recognition as a market-leader in white-collar crime matters and investigations” fueled his decision. Lorello says, ...
January 31, 2017
LONDON—Ian Hargreaves has joined Covington as a partner in the firm’s European Dispute Resolution practice resident in London. Mr. Hargreaves’ arrival follows that of litigation partners Craig Pollack, Greg Lascelles, Elaine Whiteford, and Louise Freeman over the past six months. Mr. Hargreaves advises on major European white collar and related civil and ...
January 16, 2017
LONDON—Craig Pollack and Louise Freeman have joined Covington as partners in the firm’s European Dispute Resolution practice resident in London. Mr. Pollack will also serve as co-chair of the firm’s Global Disputes Initiative with former U.S. Attorney General Eric Holder and former U.S. Under Secretary of State Alan Larson. Mr. Pollack focuses on complex high ...
Trump's election: Implications for US infrastructure
November 9, 2016, IJ Global
Andrew Jack is quoted in an IJ Global article regarding the implications of Donald Trump’s election for U.S. infrastructure. According to Jack, although there is much uncertainty about what might change, “there’s a lot of things that are going to continue regardless of who is in government.” Jack points out that there will continue to be technological ...
David Pinsky Named Law360 "Rising Star"
April 21, 2016
New York — Law360 has named Covington international arbitration partner David Pinsky a “Rising Star.” This annual recognition honors top attorneys under the age of 40 “whose legal accomplishments belie their age.” Law360 recognized how Mr. Pinsky, who leads Covington’s arbitration group’s Russia and Eurasia initiative, helped develop the firm’s Russia-focused ...
Anatomy of a Nigerian Oil Scandal: Audit of National Oil Company Fuels Momentum for Sectoral Reform
May 6, 2015, Inside Energy & Environment
After months of speculation and mounting pressure, it’s finally here: the government of Nigeria has released the long-awaited PricewaterhouseCoopers (PwC) forensic audit of the Nigerian National Petroleum Corporation (NNPC), the country’s national oil company. It’s not often that the release of a highly technical accounting report makes the headlines—much less ...
April 17, 2015, Inside Energy & Environment
Our 2014 series on risk and reward in the UK Continental Shelf (UKCS) outlined the challenges being faced by the UKCS oil and gas industry to remain competitive. A consistent theme emerging from industry stakeholders is that significant fiscal and regulatory reform is required to secure the industry’s long-term future. This post highlights key fiscal...… ...
February 19, 2015, Inside Energy & Environment
Given the fall in oil prices, many participants in the oil sector have been forced to re-evaluate their investments.[1] A drop in oil prices not only impacts the oil industry; it can also have a significant effect on gas and LNG prices around the world. Many long-term gas and LNG sales agreements continue to peg...… Continue Reading
U.S. Treasury and Commerce Departments Issue Amended Regulations to Ease U.S. Sanctions Against Cuba
January 16, 2015, Covington Alert
January 8, 2015, Inside Energy & Environment
On December 30, 2014, the California Office of Administrative Law approved permanent regulations issued by that state’s Department of Conservation, Division of Oil, Gas and Geothermal Resources (“Division”) governing fracking. The regulations follow the Division’s final interim regulations (effective January 1, 2014), which we discussed here, and further ...
December 30, 2014, Inside Energy & Environment
In November 2014, we published a three-part series outlining the UK Continental Shelf (UKCS) investment outlook and plans for much-needed reforms in the UKCS oil and gas industry. The update below provides an overview of key developments from December 2014 and considers what may lie ahead for the industry in 2015. In December 2014, the price...… Continue Reading
November 12, 2014, Inside Energy & Environment
According to the latest Oil & Gas UK Business Sentiment Index, the UK offshore oil and gas industry currently has a pessimistic outlook for the first time since 2009. In this three part series, we consider the factors contributing to the industry’s current mood and efforts to secure maximum economic recovery from one of the...… Continue Reading
November 10, 2014, Inside Energy & Environment
According to the latest Oil & Gas UK Business Sentiment Index, the UK offshore oil and gas industry currently has a pessimistic outlook for the first time since 2009. In this three-part series, we consider the factors contributing to the industry’s current mood and efforts to secure maximum economic recovery from one of the most mature...… Continue Reading
November 6, 2014, Inside Energy & Environment
According to the latest Oil & Gas UK Business Sentiment Index, the UK offshore oil and gas industry currently has a pessimistic outlook for the first time since 2009. In this three-part series, we consider the factors contributing to the industry’s current mood and efforts to secure maximum economic recovery from one of the most...… Continue Reading
October 24, 2014, Inside Energy & Environment
Oil prices have plunged in the last few months. For example, Brent futures traded at over $110 per barrel in June, and fell below $85 last week. This is a fall of over 20%, and the market price for crude oil is now at its lowest level since 2010. Oil prices impact activities in the...… Continue Reading
UK Issues Proposed Rule to Implement EU Extractive and Logging Industry Reporting Requirements
October 1, 2014, Covington E-Alert
August 4, 2014, Covington E-Alert
July 31, 2014, Inside Energy & Environment
In the first blog of this two-part series, we considered the potential impact of the 14th Round on the commercialisation of the shale gas in the UK in light of recent developments in this industry. This second blog post focusses on the additional planning guidance for licence applications in National Parks, Areas of Outstanding Natural...… Continue Reading
July 31, 2014, Inside Energy & Environment
In the first of a two part series on recent developments in the UK shale gas industry, this blog post considers the potential impact of the announcement on 28 July 2014 by the Business and Energy Minister, Matthew Hancock, inviting applications for Licences in the 14th Landward Licensing Round (the 14th Round) on the exploitation...… Continue Reading
July 11, 2014, Inside Energy & Environment
As reported in our blog post of last week, the Commerce Department Bureau of Industry and Security (“BIS”) recently determined in two private classifications that lease condensate — a type of stabilized and distilled light crude oil — is not subject to the United States’ broad ban on crude oil exports. BIS has for years...… Continue Reading
July 3, 2014, Inside Energy & Environment
In a determination rendered last week, the Commerce Department provided guidance to two companies on the application of export controls to processed condensate that could mark a potential thaw in the long-standing ban on exports of crude oil. Condensate is an ultra-light oil that has seen increasing domestic development alongside the recent boom in shale...… ...
January 6, 2014, Inside Energy & Environment
Here at Inside Energy & Environment we are honored to share that Law360 has named Covington’s energy practice as a 2013 “Energy Practice Group of the Year.” In giving this award, Law360 recognized the breadth of Covington’s practice capabilities (including litigation, transactions, regulatory and government policy) in both the traditional energy and clean ...
August 29, 2012, Covington Advisory
April 28, 2011, Covington E-Alert
October 29, 2010, Covington E-Alert
May 20, 2010, Covington E-Alert
May 13, 2010, Covington E-Alert
December 17, 2009, Covington E-Alert
December 10, 2009, Covington E-Alert
September 25, 2009, Covington E-Alert
July 22, 2009, Covington E-Alert
January 22, 2009, Covington E-Alert
December 2, 2008, Covington E-Alert
September 24, 2008, Covington E-Alert
May 21, 2008, Covington E-Alert
March 26, 2008, Covington E-Alert