Oil and gas companies are looking for new ways to raise cash and remain competitive. However, outmoded or underutilized facilities with environmental problems, such as hydrocarbon-impacted sites, can be a major financial drain. Plus, the public outcry about pollution can be difficult to manage. This session will review the new property divestment strategies that companies are utilizing to reduce liability, foster community support, optimize financial returns, and create economic development.

From a financial and legal perspective, new tools have become available over the last six months to cap costs and raise cash from problem real estate. Understanding the marketing potential of a problem site and identifying reuse opportunities are key to a cost-controlled cleanup effort and creation of a new product in the marketplace.

Using case studies, this session will describe how applying new strategies and tools can help to:

  • Minimize cleanup costs,

  • Maintain community support,

  • Negotiate strategies with regulators, and

  • Create optimum dollar return and economic development.

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