News | May 27, 2025
Secretariat Announces Newest Managing Directors
Congratulations to our recently promoted Managing Directors: Deven Bowles, Erica Greulich, Greg Johnson, Zack Kilgore, Gareth McDermott, Tony Nedinsky, Michael Pogue, and Ivy Tse.
Loss of Profit Assessment in Oil & Gas Sector
Background
The Claimant was the operator of a natural gas and crude oil gathering system initiated arbitration proceedings to collect a balloon payment in excess of $200 million, even though the contract did not contain the concept of a balloon payment.
Our Role
Secretariat professionals were appointed to provide expert testimony on behalf of the non-operator on industry custom and practice related to negotiation of gathering and processing fees, methodologies related to the calculation of such fees and to provide an opinion of whether the methodology described in the gathering agreement was being followed.
Outcome
The client relied on our long term industry experience to educate and provide insights into the importance of having clear documentation in gathering contracts, and to follow the terms as they are written. The panel agreed with the expert testimony, quoting the expert in the award, stating “we have expert testimony indicating that the rate language of a gathering agreement is the most intensely negotiated language.” The panel rendered a unanimous “take nothing” decision on behalf of our client.
Latest Insights
Article | May 23, 2025
Guardians of Finance Integrity
The Federal Reserve Bank of New York (FRBNY) has cemented its role as a global financial watchdog, using its influence to safeguard the integrity of the U.S. dollar and the broader international financial system. Recent regulatory actions related to Iraq and Libya demonstrate a proactive approach to combating illicit financial flows, setting a precedent for oversight in other high-risk jurisdictions, including Syria, Lebanon, Gaza, and Ukraine, which are likely to undergo major post-conflict reconstruction.
News | May 22, 2025
Jury Trial Victory for Marathon Oil Co. in Landmark $123.7M Force Majeure Case
Managing Director Bob Broxson provided expert reports, deposition, and trial testimony on behalf of Marathon Oil Co. in a high-stakes, precedent-setting contract dispute arising from a natural gas delivery impeded in 2021 by Winter Storm Uri.