Protection Against Operator Bankruptcy Filing

Oil & Gas Financial Journal

On April 27, Oil & Gas Financial Journal posted the article "Protection Against Operator Bankruptcy Filing" authored by Gardere Partner Michael S. Haynes. In the article, Mr. Haynes discusses why non-operating working interest owners should file a memorandum of joint operating agreement in order to protect themselves against a future bankruptcy filing by an operator.

"While energy prices remain depressed, non-operating working interest owners are looking for ways to protect themselves in the event the operator files bankruptcy (and if they are not, they should be!). One relatively simple and inexpensive form of protection is available via a memorandum of joint operating agreement, which evidences and can be used to perfect lien rights granted by an operator to non-operating working interests owners in the operating agreement."

The full article can be accessed here.  

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