Mineral Exploration

News & Analysis as of

Budget 2017: Changes to Canadian Exploration Expense and Flow-Through Shares

Canadian exploration expenses (CEE) are certain types of expenses incurred by oil and gas, mining and renewable energy corporations. CEE is 100 percent deductible in the year the expense is incurred. Certain types of CEE also...more

Idaho Modifies Oil and Gas Statutes (Again)

Both houses of the Idaho Legislature unanimously approved House Bill 301a last week following a seven-hour negotiation and two days of hearings earlier this month. Supported by Governor Otter, this bill will (among other...more

Was it a Mineral Deed or an Oil and Gas Lease?

How to distinguish an oil and gas lease from a mineral deed? In Richardson v. Mills, it was a deed when the instrument uses words like “forever” and imposes no duty to explore for and develop minerals....more

Prospecting for tax deductions

Earlier this year, the Commissioner of Taxation released TR 2017/1 - Income Tax: deductions for mining and petroleum exploration expenditure (the "Ruling"). The Ruling is the finalised version of TR 2015/D4, issued in...more

New Listing Requirements for Malaysian Oil and Gas Companies

We follow up on our client alert from March 2016, in which we considered the consultation process initiated by the Securities Commission of Malaysia (the Securities Commission) with respect to its proposed policy changes on...more

Transformation des secteurs pétrolier et gazier au Sénégal

Alors que les groupes pétroliers et gaziers s’intéressent au Sénégal depuis plus de soixante ans, ce n’est que depuis trois ans que le pays s’est révélé constituer un bassin d’hydrocarbures de classe mondiale. En 2014, Cairn...more

Transformation in Senegal's Oil and Gas Sector

Senegal has interested oil and gas companies for over 60 years, but it is only in the last three years that the country has come to the fore as a potential world-class hydrocarbon basin. In 2014, Cairn Energy plc and its...more

CRA Releases New Guidelines Regarding Canadian Exploration Expenses

On the heels of some recent positive legislative changes regarding the tax treatment of environmental study and community consultation costs, the Canada Revenue Agency (CRA) has revised its administrative guidelines for the...more

Department of Mineral Resources faces heavy criticism by South African courts again

On 4 November 2016, the Labour Court handed down its judgment (unreported case number J2459/16) in the matter between AngloGold Ashanti Limited, the Acting Chief Inspector, the relevant Principal Inspector, and the Inspector...more

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

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