Skip to main content

View Diary: Fortune Mag: Top Energy Pundit Says BP In Ch. 11 In 30 Days (26 comments)

Comment Preferences

  •  semiot - you raise a very good question (2+ / 0-)
    Recommended by:
    semiot, bobswern

    Are lease right assets that can be readily sold or if the US has claims can it reclaim those leases. I would think the later, but we need a good oil patch lawyer to tell us.

    "let's talk about that"

    by VClib on Wed Jun 09, 2010 at 01:30:56 PM PDT

    [ Parent ]

    •  Certainly lease rights are assets of the corp. (1+ / 0-)
      Recommended by:
      VClib

      They will accrue to 'successors and assigns' or revert to the lease grantor, the MMS/USA.

      Actually, MMS OCS leases are for a limited time period anyway, usually ten year terms. The lessee must also get them producing within a certain time frame, or make 'in lieu' payments on top of the yearly rents (not counting royalties, etc).

      Republicans: "Double your pleasure, double your fun, double your National Debt, and blame 'The One' "

      by Bluefin on Wed Jun 09, 2010 at 10:42:51 PM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

  • Recommended (181)
  • Community (80)
  • Baltimore (76)
  • Bernie Sanders (57)
  • Civil Rights (46)
  • Freddie Gray (43)
  • Elections (35)
  • Culture (33)
  • Hillary Clinton (32)
  • Law (28)
  • Racism (27)
  • Labor (26)
  • 2016 (24)
  • Education (23)
  • Media (23)
  • Economy (23)
  • Politics (22)
  • Texas (21)
  • Rescued (21)
  • Barack Obama (19)
  • Click here for the mobile view of the site