Oil's effect on Houston legal market

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nothingtosee
Posts: 865
Joined: Tue May 03, 2011 12:08 am

Oil's effect on Houston legal market

Postby nothingtosee » Thu Jan 15, 2015 9:48 am

Bunch of talking heads saying things like WTI may never climb above $100 per barrel again.

Anyone have aricles/guesses on how this will effect the Houston legal market? What generally happens to litigation when a downturn hits?

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Br3v
Posts: 4174
Joined: Mon Jun 13, 2011 7:18 pm

Re: Oil's effect on Houston legal market

Postby Br3v » Thu Jan 15, 2015 9:50 am

nothingtosee wrote:Bunch of talking heads saying things like WTI may never climb above $100 per barrel again.

Anyone have aricles/guesses on how this will effect the Houston legal market? What generally happens to litigation when a downturn hits?


I'm no expert, but don't people start suing eachother when they start losing money?

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AreJay711
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Joined: Tue Jul 20, 2010 8:51 pm

Re: Oil's effect on Houston legal market

Postby AreJay711 » Thu Jan 15, 2015 11:37 am

It might not be bad, even for transactional practices for the following reasons:

1) It is going to become more expensive to borrow money for exploration companies. This might force them to sell off assets.

2) While exploration and production of oil will take a hit, if there is also an increase in consumption, pipelines and refinement might prosper.

3) Money will need to find somewhere to go. It might go to midstream or downstream development in the oil energy, or it might go to other uses.

4) Oil companies will need to renegotiate some of their contracts that were made when oil was high.

It's not like the shit is necessarily hitting the fan, but it very well might. Proceed with cation. Joining an energy transactions / project finance practice doesn't look like the can't-lose prospect it did 2 years ago.




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