(Click below on the TITLE of the Problem Solved to read the full story)
PROBLEM SOLVED: What Happens When A City Wants to Protect its Surface Lands from Oilfield Development?
Problem: Our exploration & production (E&P) client leased a golf course property for drilling and mineral development in a rather affluent suburb of a larger city. Now, the city declared a moratorium in drilling and frac-stimulation. What do we do?
Solution: An outright moratorium is probably unconstitutional, and certainly a reverse condemnation. So, let’s go negotiate!
Problem: The client call went like this: “I’m a little late paying my trade creditor, but its barely 120 days. The problem is I just received an email with a filled-out involuntary bankruptcy petition. This debt collector is threatening to throw my company into an involuntary bankruptcy unless I pay up immediately. Can they really do this?”
Short Answer: Unfortunately, the answer could be “Yes”. But exceptions exist to protect the debtor from this unscrupulous tactic of a bully creditor.
Problem: My customer failed to pay for the work done on his oil & gas property, so we were forced to sue and just received a judgment in our favor. But they don’t seem to have any economic assets. What can I do now to get paid?
Solution: You might want to review some production histories that are found in the available engineering databases.
Problem: My company worked on a customer’s Salt Water Disposal well. Can I file a Mineral Lien Claim against the SWD? Will it help me get paid?
Solution: Yes, and it just might be your very best strategy to get paid!
Problem: My customer filed a Chapter 11 bankruptcy a year ago. Now, I received a letter demanding that I pay back the money we were paid for work we did before they filed. Can they really do this?
Solution: Yes, but you should know that almost always, these claims can be reduced by a review of your defenses, and by negotiation.
Problem: My customer just filed a Chapter 11 bankruptcy. Is there any way my single claim can get extra attention, but in a way that is economic? I don’t want to be lost in the crowd. And I really don’t want to throw good money after bad.
Solution: Yes, you might consider teaming up with other trade creditors in a joint representation effort.