The painful reality is that a combination of low oil and gas prices and the difficulty of securing ongoing financing is driving a number of UK offshore and onshore players towards insolvency.
Insolvency could affect you - or it could affect your co-venturer and the integrity of your joint venture.
Join us for a breakfast briefing to consider the following issues:
- what 'insolvency' actually means and how to spot the signs
- what the licence says and how the OGA could react when faced with an insolvency
- the rights and the obligations under the JOA which apply in the event of an insolvency
- the effects of an insolvency on decommissioning security
- lenders' and creditors' risks and rights pre and post insolvency
- directors' duties: what to do, what not to do
- short, medium and long term practical steps to protect your position