Issues in midstream restructurings, Part 1: Covenants running with the land

Davis Polk’s “Issues in Midstream Restructurings” webinar series is a three-part event.

Part I covers the recent bankruptcy court decisions in the Extraction Oil & Gas, Chesapeake Energy, Alta Mesa Resources and Southland Royalty midstream rejection disputes. We addressed the different approaches that courts have taken to rejection of covenants purporting to “run with the land,” and the implications for E&Ps and midstream companies alike.