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Energy Industry Transactions
Call Number: 24672
Course Number: 6915-01
Professor: Dennis C. Stickley
Credit Hours & Type of Credit: 2
Semester Offered: Spring
Prerequisites: Students must have completed their first year of law school.
Recommended Courses: None
Course Overview:The scale of today’s oil and gas, utilities and mining organizations dwarfs that of many other industries. Fifteen percent (15%) of the companies that comprise the Global Fortune 500 today are extractive or power entities. Today’s demand of 200+ million barrels of oil equivalent per day is predicted to double by 2050. The size and scale of the industry will continue to grow to meet the world’s ever-increasing demand for energy.
Ongoing consolidation across the industry is resulting in larger, more complex organizations with globally expanding operations and greater challenges. In addition to these public and private companies, there are large, government-owned energy organizations that have begun to expand beyond their national boundaries to compete for resources and end markets. Managing these global operations, across borders and product lines, involves carefully balancing enterprise risks with financial goals. While sustaining growth, energy companies must also maintain the highest standards of environmental stewardship. While commodity prices are high, publicly traded energy companies are also contemplating the best cash management strategies.
Course material is presented in terms of the role played by lawyers in the Energy Bar in structuring, negotiating and documenting major transactions including:
• Formation of project entities
• Financing agreements
• Construction contracts
• Operation and maintenance contracts
• Fuel & feedstock supply contracts
• Power & product purchase agreements
• Transmission & transportation agreements
Course Materials: See the current Book List located under Courses and Curriculum.
Written Assignments: The course will involve students in developing the transactional documentation for the development of a hypothetical gas-fired power plant as stand-by generation to support a major wind-farm.
Type of Exam: There will be no examination.
Basis for Grading Student Performance: Assessment will be based on the thoroughness and drafting quality in preparing specific portions of the agreements. For example, the clause dealing with liquated damages for the construction contractor’s delay in completion.