Barkley Clark’s Book on Oil and Gas Financing Published by LexisNexis
Stinson Leonard Street attorney Barkley Clark has co-written a book on oil and gas financing with his wife, Barbara Clark, and nephew Matthew Clark. LexisNexis recently published the e-Book, “Clarks’ Oil and Gas Financing Under the UCC.”
The text provides practical guidance for oil and gas operators and lenders in boom or bust markets. The timing of the book’s publication coincides with a dynamic period for oil and gas development and financing. As the Clarks explore, new drilling technology and well stimulation processes have made it possible to extract hydrocarbons from formations today that would have been economically unthinkable as little as a decade ago. As a result, a massive market for oil and gas financing has arisen. At the same time, oil prices have plummeted and many producers over-leveraged and even exploring bankruptcy.
The Clarks’ book begins with an overview of financing in the industry and then discusses the core rules applicable to security interests in extracted oil and gas and proceeds from the sale of hydrocarbons. Additional sections consider special rules applicable to pipeline companies and leases on federal lands and the threats to a creditor's security interests posed by the trustee in bankruptcy.
The authors also address the topic of hydraulic fracking and the uncertainty surrounding the balance of the economic gain with the environmental and security concerns. The book closes with a discussion of secured financing of oil and gas projects on land owned by Native American tribes and a summary of the filing and perfection requirements applicable to personal property collateral used as security in oil and gas projects.
The text is aimed at professionals who deal with security interests or liens in oil and gas collateral. This includes lenders, mineral estate owners, operators, contractors, and the attorneys who represent them in connection with oil and gas projects or litigation concerning oil and gas security interests or liens. This e-book also provides general analysis and practical advice concerning the fundamentals of oil and gas law, issues raised by fracking technology, the interrelation between Article 9 security interests and specialized statutory liens, the adoption of tribal commercial codes governing transactions in Indian Country and the basics of a secured lender's rights on a borrower's default including the rules governing the conduct of UCC foreclosure sales.
Barkley Clark is a well-known authority on commercial and financial services law, especially secured transactions under the Uniform Commercial Code. He is a partner in the firm ‘s Washington DC office. He taught the UCC as an adjunct professor at both Georgetown University and the University of Virginia. His areas of experience include payment systems, secured transactions, bankruptcy, letters of credit, consumer credit and general bank regulation.
Barbara Clark is a former federal prosecutor and commercial litigator with more than 35 years' experience. She is a partner in the Commercial Law Institute, Greenwood, Va. She has been a partner in private practice, specializing in commercial litigation and has represented financial institutions before federal and state regulators and is a frequent author on secured transactions under the UCC and other topics.
Matthew Clark is an associate attorney at Faegre Baker Daniels in the firm’s Boulder, Colo. office. He handles a wide range of cases, including complex contract, real estate, manufacturing, antitrust, intellectual property, and creditor-debtor disputes for clients in the banking, energy, and information technology industries.