After the Drop: A Briefing on the U.S. Oil Industry

Past Event - Video Available | May.18.2016 | 1pm - 3pm (GMT Standard Time)

Orrick London

The US shale business cycle is extremely fast compared to deep sea exploration in the North Sea and elsewhere. US oil producers have responded with great speed to the steep oil price declines of the past 18 months. Production, investment and rig counts are down. Bankruptcies, defaults and distressed debt exchanges are now on going. With the oil price having recovered by 50% since its January lows we ask, where next for the US oil industry and its investors?

We are pleased to be joined in our London office by a leading US-based Deloitte restructuring professional, and our new Houston partners to share their perspective. The panel will address operational changes in the industry, distressed investment opportunities, and the issues arising from a raft of debt defaults.

Moderated by Stephen Phillips, Co-Head of Orrick's European Restructuring Group, our panel will comprise John Little, Dallas-based Deloitte Restructuring Advisory Leader, Orrick's Global Head of Restructuring Raniero D'Aversa and our Houston partners Jonathan Ayre and David Ronn.


CLE Credits Available: N



  • Finance Sector
  • Restructuring
  • Mergers & Acquisitions

Raniero D'Aversa Partner Restructuring, Mergers & Acquisitions

New York

Raniero D’Aversa is chair of Orrick’s Restructuring group. He is a market-leading practitioner in bankruptcies, out-of-court restructurings and creditors’ rights controversies and brings years of experience representing DIP lenders, secured lenders, bank groups and hedge funds in those capacities.

Ron is the designated restructuring counsel to many leading financial institutions such as The Royal Bank of Scotland, Bank of America, Citibank, Commerzbank, Toronto-Dominion Bank and The Bank of Nova Scotia. He has represented clients in bankruptcies, workouts, DIP loans, distressed debt transactions, bankruptcy litigation, derivatives and distressed acquisitions. Ron has represented interests of financial institutions and investors in such restructuring and bankruptcy cases as Ocean Rig, Seadrill, CHC Helicopter, Erickson, Indiana Toll Road, Pocahontas Parkway, Eagle Bulk, Spyglass Films, American Airlines, Republic Airlines, Chemtura Corporation, Quebecor, AbitibiBowater, North Las Vegas, Ritchie Risk-Linked Strategies, Star Diamond, Lehman and Mesa Airlines.



  • Energy & Infrastructure Sector
  • Energy
  • Project Finance
  • Structured Finance
  • Oil & Gas
  • Renewable Energy
  • Mergers & Acquisitions
  • Restructuring
  • Corporate

Jonathan Ayre Partner Energy, Project Finance


Jonathan Ayre represents energy, oil and gas, power generation, and chemical industry companies and their investors in acquisitions, divestitures, joint ventures, project development, financing and restructuring transactions. His practice includes the formation of private equity-backed entities investing in the energy, oil and gas, power generation, and chemicals industries.  

Jonathan also represents clients in project development matters, with a focus on engineering, procurement and construction agreements for major capital projects, including power generation, liquefied natural gas and chemical manufacturing facilities. He counsels a range of clients on general corporate law matters, including entity formation, equity ownership, and corporate governance.

Jonathan was recognized in 2020 by Law 360 as an Energy Rising Star.

Jonathan serves as a member of Orrick's Professional Development Committee and as the firm's Recruiting Liaison to The University of Texas School of Law.