Expert Appointments
Bill Cline has provided expert analysis and testimony in a number of disputes on matters ranging from property valuation, interpretation of petroleum contracts including PSCs, Concession Agreements and Risk Service Contracts and JOAs, and the generally accepted practices and standards of the international oil and gas industry. Examples include:
Valuation of Petroleum Properties (AAA Arbitration)
Retained as an expert by a large independent oil company in a dispute with a major oil company over farm-in arrangements and JOA provisions within an operation governed by a production sharing contract in Asia. The primary focus of testimony was in respect of the valuation of the contract area at different points in time. Submitted multiple reports in addition to testimony under direct and cross-examination.
Valuation of Petroleum Properties (Mediation)
Engaged by a national oil company to attempt to mediate, reconcile and resolve major differences in perspective concerning the value of petroleum properties that had been taken over by the national oil company. At issue were reserve and resource categories, risking/discount rates/pricing and generally accepted standards and practices of the international oil and gas industry.
LNG Sales Agreement (UNCITRAL Arbitration)
Engaged as an expert by a large U.S. company in a multi-year arbitration proceeding over an alleged breach of contract in certain LNG sales and other related agreements. Role as expert included testimony in respect of the full value chain including upstream valuation, midstream and LNG plant capacity assessment as well as evaluation of European and U.S. gas markets.
Valuation of Petroleum Properties (Mediation)
Retained as an independent expert to support a national oil company in an effort to resolve a dispute with an international oil company over the valuation of its interests in certain oil and gas properties being commercialized via a large scale LNG development in Asia.
Industry Practices and Standards (Class Action Litigation USA)
Retained as an expert by two large international financial institutions in their defense against a class-action suit brought by former bondholders of a US independent oil company which had gone bankrupt. The plaintiffs alleged the bond offering documents and memoranda were fraudulent and misleading, particularly with respect to the company’s success in well workover and rehabilitation operations.
Assessment of Gas Lost in Blowout (ICSID Arbitration)
Retained as an expert by an independent oil company in respect of the quantification of the amount of natural gas lost in two loss of well control events in Asia.
Valuation of Petroleum Properties - ExxonMobil vs. Petróleos de Venezuela, Government of Venezuela (ICC, ICSID Arbitrations)
Retained by ExxonMobil as an expert in its two arbitration proceedings against the national oil company and government of Venezuela. Role was primarily in the development of reliable production and associated capital and operating costs forecasts for the integrated operations of the Cerro Negro project in support of the calculation of damages. Submitted multiple reports in the multi-year proceedings in addition to testimony under both direct and cross-examination.
Industry Practices and Standards (Stockholm Chamber of Commerce Arbitration)
Retained by the Government of a former Soviet Republic in an arbitration proceeding against a US independent. Submitted two reports in the capacity as an independent expert on petroleum property licensing/award processes and standards and testified in the hearings.
Valuation of Petroleum Properties (UNCITRAL/ICSID Arbitrations)
Retained as an expert by two international independent oil companies in their arbitration proceedings against the national oil company and government of a North African country. Role was the development of reliable production forecasts for the venture supporting the calculation of damages. Submitted multiple reports in the proceedings which resulted in a settlement prior to hearings.
Valuation of Petroleum Properties (Ontario Superior Court, Canada litigation)
Retained as an expert by a Canadian independent oil company in its litigation proceedings against a former business partner. Role was primarily in the valuation of certain properties in Russia. Submitted two reports and gave testimony under direct and cross-examination.
Natural Gas Market Expert (ICC, ICSID, UNCITRAL, CRCICA Arbitrations)
Engaged as an expert in multiple proceedings between investors in a gas export project and the government and state companies of Egypt. Submitted reports concerning a wide variety of aspects and issues related to the functioning of natural gas markets and their management.
Valuation of Petroleum Properties (USA Civil Court)
Retained as an expert by an insurance company in connection with a lawsuit brought by a former oil company CEO regarding lost opportunity profits allegedly incurred as a result of loss of investor support for a prospective large scale acquisition program in the Permian Basin.
Dispute over Valuation of Petroleum Properties (ICDR)
Retained as an independent expert by an international oil company in a dispute over the value of certain contractual property rights to a petroleum property in Asia. Assessment considered alleged value erosion of a prospective interest in a large oil and gas field development due to delays, approval uncertainties and to loss of marketability and liquidity.
Dispute over Crude Oil Pipeline (USA Civil Court)
Retained as an independent expert by an international oil company in a dispute over certain proposed expansions of a crude oil pipeline system and its consequent impact on tariffs and risk allocation for future crude oil transportation volumes.
Valuation of Petroleum Property (Stockholm Chamber of Commerce Arbitration)
Retained by an independent oil company in an arbitration proceeding against a state-owned company. Submitted two reports in the capacity as an independent expert on petroleum property valuation and testified in the hearings.
Valuation of Petroleum Properties (ICJ Arbitration)
Retained as an independent expert by a national oil company in a dispute over the value of certain petroleum properties that were improperly seized. Properties included oil and gas fields, gas storage and pipeline systems, a number of drilling rigs other support vessels (heavy-lift crane barges, pipelay vessels, crew and work boats, and a helicopter fleet).
Petroleum Industry Practices and Standards (ICC)
Retained as an independent expert by an international oil company in a dispute over the company’s obligations at the termination of a PSC in the Middle East under the applicable contract, law and the “best practice” standards in the industry.
Valuation of Petroleum Properties (USA Civil Court)
Retained as an independent expert by members of the Board of Directors of a seismic acquisition and processing in a dispute over the value of the assets the company at different points in time and the related decisions of the Board.
Valuation of Petroleum Properties (JOA)
Engaged as an independent expert to provide a Fair Market Valuation (FMV) relating to a participating interest in an offshore Asia Pacific block, as required under a Joint Operating Agreement (JOA) to satisfy the change of control-related pre-emption option.
Valuation of Petroleum Properties (Nigerian Arbitration Rules)
Retained as an independent expert by a consortium of international oil companies in a dispute over development rights and associated valuation implications for a large-scale development offshore West Africa.
Petroleum Industry Standards and Practices (Brazilian Arbitration)
Retained as an independent expert by an international oil company in a dispute with a national regulatory authority over field development rights, practices, plan approval requirements and other critical aspects including tax ringfencing.