5. Governmental Approvals

Governmental Approvals

Given the highly regulated nature of oil and gas assets, both Buyers and Sellers should consult with counsel regarding any regulatory approvals necessary to complete a transaction. Additionally, transactions involving assets located on tribal lands may require special approvals from tribal authorities. With E&P transactions, if the Buyer desires to be appointed as the operator of the assets post-closing, the Seller should have an affirmative covenant to assist the Buyer in filing the requisite documents with the Oklahoma Corporation Commission to effect the change in operator status. In the midstream sector, the transfer of interstate pipelines could be subject to review and approval by the Federal Energy Regulatory Commission. Also, a transfer of intrastate pipelines could be subject to review and approval from appropriate state regulators. Depending on the nature of these governmental reviews and/or approvals, the parties may consider whether such approvals are conditions to closing the transaction.

<< PREV      1  2  3  4  5  6  7  8  9  10     NEXT>>

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs