Energy Exploration

News & Analysis as of

Back to the Bulgarian Bad Guy, So Say the Justices

My blogging sensei Cordell Parvin says the title should always inform the reader of the content. Mea culpa on this one; I couldn’t resist the alliterations. Some time back I reported on Carlton Energy Group et al v....more

Significant Developments in Canadian Energy – For the Month of August 2016

Conventional - August 2, 2016 – Quattro Exploration and Production Ltd. has signed a letter of intent for the sale of certain oil and gas production facilities and lands in Western Canada to an Alberta-based oil and gas...more

Trion Farmout

On July 28, 2016, the Mexican National Hydrocarbons Commission ("CNH") published a call for tenders and the corresponding bid guidelines (the "Bid Guidelines") for the International Public Tender CNH-A1-Trion/2016 process, to...more

India: A False Dawn for Foreign OSV Owners

India’s ambitious drive to reduce dependence on foreign hydrocarbon imports is expected to spur almost US$30 billion of exploration and production investments including in the offshore sector. An increase in offshore...more

Significant Developments in Canadian Energy – For the Month of July 2016

Conventional - July 26, 2016 – TORC Oil & Gas Ltd. entered into an agreement with Zargon Oil & Gas Ltd. to acquire light oil assets in southeast Saskatchewan. The acquisition includes 1,120 boe per day (roughly 95 per...more

Oil & Gas Sector in Mexico: The Mexican Government Announces Round Two | Publications

On July 20, 2016, the Mexican government, through the Comisión Nacional de Hidrocarburos (National Hydrocarbons Commission) (“CNH”), published in the Diario Oficial de la Federación (the Federal Official Gazette) the Bidding...more

China Loses Claims to the South China Sea in Landmark Decision

On Tuesday, China received a binding decision from the Permanent Court of Arbitration at The Hague, Netherlands, regarding territorial claims in the South China Sea. The international tribunal ruled unanimously that China’s...more

Wyoming Federal Court Strikes Down BLM Fracking Rule

U.S. District Court Judge Scott Skavdahl in State of Wyoming et al v. U.S. Department if Interior et al. struck down Bureau of Land Management regulations applying to hydraulic fracking on federal and Indian lands. He...more

Significant developments in Canadian energy – for the month of June 2016

June 22, 2016 – In response to the Redwater decision (discussed below) and pending the outcome of an appeal, the Alberta Energy Regulator (AER) implemented interim changes to its regulatory measures “to minimize risks to...more

The New North Sea – Part 3: Top 10 “MER UK” issues for exploration activities

Exploration is undoubtedly a key area of focus for the bodies responsible for achieving MER UK. In its Corporate Plan, the OGA lists “revitalising exploration” as one of its priorities. It also sets out a proposed pathway for...more

‘Fit for 50’ – Restructurings Likely as Oil Industry Enters New Normal

Prior to the recent collapse in oil values, prices existed at over $100 a barrel for over three years. It made the economics of oil exploration, production and sale comparatively straightforward, but embedded costs into the...more

UK Shale: Fracking is Given the Green Light

Recent developments in fracking in the UK - On 23 May 2016, the North Yorkshire County Council voted in favour of an application by Third Energy to extract shale gas from an existing onshore gas well in northeast England...more

Significant developments in Canadian energy – for the month of March 2016

Conventional - March 9, 2016 – Encana Corporation is exploring the sale of more non-core assets in the United States and Canada that could net proceeds of approximately $1 billion. Encana is open to offers on all of...more

Colorado House Votes Down Bill Giving Local Authorities Power Over Fracking

Two Democrats joined the Republicans in the Colorado House of Representatives on April 4, 2016, to defeat a bill that sought to assert local government control over oil and gas drilling. Drilling operations in Colorado have...more

State Well Permit Prevails Over Local Zoning – Again

The state laws of Louisiana regulating oil and gas exploration and production will trump local regulations. See St. Tammany Parish Government v. State of Louisiana, Office of Conservation. (Forgive us for that word that...more

Proposed changes for mineral, oil and gas corporations listing in Malaysia

The Securities Commission of Malaysia (SC) published a consultation paper regarding its proposed policy on the admission of mineral, oil and gas (MOG) exploration or extraction corporations or assets to the main market of...more

UK Government initiatives for UK oil and gas : forging links with Mozambique

Last week, the UK Government had a busy week on the oil and gas front – publishing the Draft MER UK Strategy and announcing new measures to encourage investment in the sector and a new City Deal for Aberdeen....more

Québec: Adoption of Bill 55: An Act respecting transparency measures in the mining, oil and gas industries

The Québec National Assembly adopted Bill 55: An Act respecting transparency measures in the mining, oil and gas industries[1] recently. Bill 55 came into force on October 21, 2015. The content of Bill 55 was summarized in...more

Red Notice Newsletter - October 2015

Welcome to the October 2015 edition of Red Notice, a publication of Akin Gump Strauss Hauer & Feld LLP. This month on the anticorruption front, a Japanese multinational conglomerate settles U.S. Securities and Exchange...more

Hercules Offshore, Inc. and 14 Affiliates File a Prepackaged Chapter 11 Case

Today, August 13, 2015, Hercules Offshore, Inc. and 14 of its affiliates filed a prepackaged chapter 11 bankruptcy case in the United States Bankruptcy Court for the District of Delaware. Hercules and its affiates are,...more

Mexico’s Energy Reforms and Dispute Resolution System

In 2013, Mexico’s President submitted an initiative to Congress to modify the Mexican Constitution to allow private parties to perform exploration and production activities in Mexico. The initiative also included...more

Caveat Optionor: Canadian Court Strikes a Blow for Mineral Exploration Companies

A recent judgment from the British Columbia Court of Appeal provides insight on the interpretation of exploration option agreements. This decision is part of protracted litigation between the parties, American Creek Resources...more

ANP Announces the 13th Bidding Round for Exploration of Oil and Gas in Brazil

The Brazilian National Council of Energy Policy (CNPE) recently authorized the 13th Bidding Round for Brazilian oil and gas resources. The Round includes 266 exploratory blocks, both onshore and offshore, and are distributed...more

Locke Lord QuickStudy: Proposed Regulations Issued on MLP Qualifying Income

The Internal Revenue Service (IRS) recently issued proposed regulations addressing master limited partnership (MLP) qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code. This Locke Lord QuickStudy...more

New Rules on MLPs & Qualifying Income: What Oil Services and Exploration Companies Need to Know

On Tuesday, May 5, 2015, the Internal Revenue Service (“IRS”) released proposed regulations defining qualifying income for Master Limited Partnerships (“MLPs”). MLPs are publicly traded partnerships that are taxed as a...more

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