Wolff Leia is an energy, insolvency and securities law firm which is uniquely qualified to address the changing times. With an entrepreneurial history of owning and operating oil & gas exploration companies, Wolff Leia lawyers offer a unique combination of skills and experience.

Oil prices at $30 US WTI or less in 2016 will result in a challenging year for upstream public and private oil & gas exploration companies. Debts may exceed the market value of assets. Cash flows may not meet operating expenses. Cash flows may not meet general and administrative expenses. The capital markets may not be available for bailout funds. Alberta Energy security deposit requirements will reflect 2015 oil pricing in 2017. Operators may have to foreclose on the assets of defaulting joint venturers under section 505 of the CAPL Operating Procedure to recover cash flow deficiencies. Creditors must take action to preserve recovery value. Status quo does not seem to be an option. Upstream oil and gas industry consolidation is inevitable. As drilling and exploration are suspended, the upstream oil & gas industry will undergo a radical transformation. The ripple effects on the service industry will be severe. Wolff Leia can deliver intelligent solutions, responsiveness, energy, talent, and determination at a reasonable cost in order to solve the inter-related oil & gas issues, insolvency issues and securities law issues from the perspective of the issuer, shareholder, lender, borrower or trade supplier.

We counsel clients in a broad range of businesses including oil & gas, mining, agriculture, financial services, insurance, technology and manufacturing. We work in partnership with our clients to deliver the most effective solutions for our clients’ needs. We strive to utilize our expertise and specialization to provide solutions which add value to our clients’ endeavours and compliment their business strategies and goals.