Houston-A US court decision this week allowing Sabine Oil and Gas to reject its midstream commitments is not likely to dramatically impact the flow of petroleum through pipelines, but could give producers more leverage in renegotiating contracts. The long-awaited decision by Judge Shelley Chapman of the US Bankruptcy Court in Manhattan Tuesday suggests that a broad group of exploration and production companies that have or will file for bankruptcy may be able to improve their post-emergence financial profile by rejecting contracts with their midstream business partners.
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