Mineral Exploration

News & Analysis as of

Maine Board of Environmental Protection Unanimously Adopts Metallic Mineral Mining Rules

On January 5th, the Maine Board of Environmental Protection (Board) unanimously voted to repeal existing Chapter 200 Metallic Mineral Exploration, Advanced Exploration and Mining rules and adopt new Chapter 200 rules to...more

Pennsylvania’s New Oil and Gas Regulations for Unconventional Wells – Part 2: Recent developments; waste management,...

Part 1 of this Client Alert provided background on Pennsylvania’s new regulations for unconventional oil and gas wells – published on October 8, 2016 as Chapter 78a (the “Chapter 78a Regulations”) – and highlighted sections...more

The Rule Against Perpetuities is Alive and Enforceable in Oklahoma

Today we venture into Oklahoma, to be instructed on the Supreme Court’s treatment of the Rule Against Perpetuities. First, the Rule: No property interest is good unless it must vest, if all, not later than 21 years after...more

SEC Rules for Resource Extraction Issuers Could Lead to Increased FCPA Scrutiny, Disclosures

New rules issued by the U.S. Securities and Exchange Commission (SEC) that require resource extraction issuers to disclose payments made to U.S. and foreign governments for the commercial development of oil, natural gas or...more

Under the Dome: Inside the Maine State House (August 26, 2016)

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Maine Home to New National Monument - Utilizing powers granted to presidents under the...more

Drilling Deeper: The Intersection of Producer Bankruptcies and Gathering Agreements

The issue of whether gathering agreements are subject to rejection in bankruptcy as executory contracts and whether certain provisions of those agreements run with the land and survive rejection will impact ongoing bankruptcy...more

Proposed SEC Rules Modernize Mining Disclosures Using Canadian Rules as the Gold Standard

On June 16, 2016, the U.S. Securities and Exchange Commission proposed a set of comprehensive mining disclosure rules with the stated intent of “aligning such rules with current industry and global regulatory practices and...more

Understanding the SEC’s Proposed New Mining Disclosure Rules: Questions and Answers

On June 16, 2016, the SEC proposed a major overhaul of the disclosure requirements for companies that are engaged in material mining operations, including royalty companies. The proposed rules would replace the SEC’s...more

Key Milestone towards the Standardisation of Mineral Reserve and Resource Reporting

The US Securities and Exchange Commission (the "SEC") has proposed to modernise its rules for mineral property disclosure and more closely align them with international regulatory standards and practices. The SEC has...more

Sabine – A New York Bankruptcy Judge’s Interpretation of Texas Property Law Encourages Compromise and Leaves an Industry in Limbo

On March 9, 2016, Bankruptcy Judge Shelley Chapman of the Southern District of New York issued her decision on the Debtor’s motion to reject certain contracts in Sabine Oil & Gas Corporation’s Chapter 11 case. The decision,...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

Distressed Download

Lessons from Sabine - In March, Bankruptcy Judge Shelley Chapman held that Sabine Oil & Gas Corp. satisfied the standards for rejection of several gathering and handling agreements between Sabine and its midstream...more

The Accommodation Doctrine Gets Its Feet Wet

Let’s start with a little background: Under the Accommodation Doctrine an oil and gas lessee has an implied right to use the land as reasonably necessary to produce and remove the minerals, but must exercise the right with...more

Trouble Down the Pipeline? What Sabine Oil & Gas Corp. May Mean For The Midstream Service Sector

Recently, the Bankruptcy Court for the Southern District of New York issued an opinion in In re Sabine Oil & Gas Corp. that permitted the debtor, Sabine Oil & Gas Corporation ("Sabine") to reject certain gathering and...more

Processor Required to Account For Diverted Volumes Used for Gas Lift

Generally, oil and gas production facilities have accounted for volume losses under the concept of “Fuel, Flare & Losses.” In a recent case, the Louisiana Fourth Circuit Court of Appeal held that processors must also account...more

Federal Budget 2016 Extends Mineral Exploration Tax Credit

Canada’s Liberal party released their first Federal Budget on March 22, 2016 since taking office last year. Despite projecting a staggering deficit of approximately $30 billion, the Budget contains welcome news to issuers of...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

Launch of the South African Marine Research and Exploration Forum

On 29 January 2016, the Department of Science and Technology and the Offshore Petroleum Association of South Africa signed a memorandum of understanding in terms of which the South African Marine Research and Exploration...more

The Oman Update - Official Gazette 1126

Sultani Decrees - Sultani Decree No. 48/2015 Endorsing the Oil Agreement between the Government of the Sultanate of Oman and Oman Lasso Exploration & Production Karawan Limited for Block No. 54....more

Tax Update (Australia): Prospecting for Tax Deductions - The ATO Consolidates and Clarifies Its Views About When Exploration and...

The Commissioner of Taxation has released TR 2015/D4 - Income Tax: deductions for mining and petroleum exploration expenditure (Draft Ruling). The Draft Ruling will replace TR 98/23 - Income Tax: Mining exploration and...more

Mexico’s Energy Industry, Results of Ronda Uno, Third Tender

If you read only this... - On December 15, 2015, the Mexican Comisión Nacional de Hidrocarburos (CNH) completed the third stage of its so–called “Round One” upstream oil and gas auctions. It is estimated that these...more

Fall 2015 Borrowing Base Redetermination Recap

With the price of crude oil falling to new 52-week lows, weekly reports that inventories still exceed expectations and no indication that we have hit bottom, exploration and production companies continue to feel the pressure...more

Kazakhstan’s accession to the WTO: new local content requirements

On 9 November 2015, in connection with Kazakhstan’s accession to the WTO, amendments to the subsoil use legislation made came into force and significantly altered the existing local content requirements. We summarize below...more

New Mining Code in Gabon to Give a Major Boost to Investments

“Gabon remains unexplored” is the conclusion of the Société Equatoriale des Mines (“SEM”), a wholly-owned State company created in 2011 to facilitate the development of the country’s natural resources. Developing the mining...more

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