Oil & Gas

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

California Environmental Law & Policy Update - March 2017 #4

Environmental and Policy Focus - U.S., in reversal, issues permit for Keystone oil pipeline - New York Times - Mar 24 - The Trump administration announced on Friday that it would issue a permit for...more

Your Daily Dose of Financial News

The feud between Big Billy Gross and his former firm, Pimco, over BBG’s 2014 ouster is officially finished. The terms weren’t officially disclosed, but both sides noted that “any proceeds from the suit will be donated to...more

Texas Supreme Court Approves Top Lease of Reversionary Interest; Orders New Trial on Production in Paying Quantities

In BP America Production Co. v. Laddex, Ltd. (Case No. 15-0248), the Texas Supreme Court recently ruled that a top lease that is a conveyance of an interest in a lessor’s possibility of reverter does not violate the Rule...more

Your Daily Dose of Financial News

News emerged in past weeks that North Korean hackers were likely behind the theft of $81 million from the central bank of Bangladesh. You can add to that an attack on more than 20 Polish banks and an attempt at other...more

Court Dismisses Complaint That FERC’s Regulatory Structure Is Biased In Favor Of Pipeline Applicants

On March 22, in the case of Delaware Riverkeeper Network, et al., v. FERC, the U.S. District Court for the District of Columbia dismissed the plaintiffs’ complaint that the statutory requirement that the Federal Regulatory...more

Your Daily Dose of Financial News

Eddie Lampert’s Sears mega-gamble appears to finally be catching up with him. Or the store, at least. Mr. Lampert, it seems, will come out not as worse for the wear as one might have expected....more

Can Reworking a Saltwater Disposal Well Maintain a Lease?

Should the sufficiency of reworking operations under the cessation-of-production clause of an oil and gas lease be limited to the producing well? Crystal River Oil and Gas, LLC et al v. Patton was a suit to terminate an oil...more

Infrastructure M&A: Journey to the non-core: How the European infrastructure M&A market is changing

HEADLINES - - Overall appetite for infrastructure investment remains strong. M&A deal value rose 75 per cent from 2010 and 2016. Deal volume grew 196 per cent over this period - The number and value of...more

Kern County Judge Grants Injunction, Blocking Blanket Enforcement of Oil Field Aquifer Exemption Regulations

A reported in a prior blog post, the Western States Petroleum Association (“WSPA”) sued the California Department of Conservation and the Division of Oil, Gas and Geothermal Resources (jointly, the “Department”) in Kern...more

Delaware District Court Allows Shareholder Class Action Suit To Proceed

On March 13, 2017, the United States District Court for the District of Delaware rejected LRR Energy L.P. (“LRR”) and Vanguard Natural Resources, LLC’s (“Vanguard”) motion to dismiss, allowing the putative shareholder class...more

Infrastructure M&A: Journey to the non-core: The shift to non-core infrastructure-who’s investing where?

HEADLINES -   - Between 2010 and 2016, more than half (53 per cent) of all non-core infrastructure investment was made by infrastructure funds - In value terms, transport (41 per cent) and power (28 per cent)...more

Mexico's Energy Regulatory Commission Clarifies 10 Scenarios on Trading for Oil Products

Mexico's Energy Reform of 2013 opened oil and gas sectors to private direct investment and operation. Under that reform, trading of hydrocarbons, oil and petrochemicals (oil products) opened in all value chains, even though...more

Fifth Circuit Dismisses False Claims Act Suit Alleging Violation Of Offshore Regulations

In Abbott v. BP, the plaintiffs alleged that BP had falsely certified to compliance with regulatory requirements pertaining to the engineering of the Atlantis Platform, a semi-submersible floating production facility capable...more

California Environmental Law & Policy Update - March 2017 #3

Environmental and Policy Focus - Trump’s budget proposal slashes EPA funding - Washington Post - Mar 16 - President Trump on Thursday released his budget plan for the next fiscal year, which proposes cutting the...more

Domestic Crude Oil Production Down in 2016

According to the U.S. Energy Information Administration, ““Despite increasing crude oil prices throughout most of 2016, total U.S. crude oil production in 2016 was below its 2015 level. However, monthly production began...more

UAS, A Growing Part of the Oil and Gas Industry

As the use of unmanned aerial systems (UAS or as they are more commonly called, drones) continues to rapidly increase as technology continues to develop, more and more industries will utilize UAS in their day-to-day...more

District Court Upholds Controversial Bankruptcy Decision in Sabine

On March 10, 2017, the U.S. District Court for the Southern District of New York issued a Memorandum Order, in which it affirmed a controversial bankruptcy court ruling. The district court agreed with the bankruptcy court...more

Cabotage Or Sabotage? Controversial Proposal By CBP To Reverse Course On Decades-Old Policy Regarding Foreign Flag Vessels In Gulf...

In a sweeping move that has been widely and vociferously praised by supporters and passionately decried by opponents, the Customs and Border Patrol Agency (CBP) on the second-to-last day of the Obama administration’s tenure,...more

Brent - Life on the Road Again

2017 will see the start of the process of decommissioning the iconic Brent oil production platforms in the UK sector of the North Sea. The first of the four Brent platforms, Brent Bravo, first started producing oil from the...more

Increase in Energy Industry Losses in Latin America

Recent studies in the insurance industry have shown that the fall in oil prices has historically led to an increase in claims in refineries and petrochemical plants. The 2016 Marsh report, in relation to the 100 claims...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

Significant Developments in Canadian Energy – For the Month of February 2017

February 13, 2017 – Alberta celebrated the 70th anniversary of the discovery of oil at Leduc #1, which is considered by many to be the start of the modern oil and gas industry in the province. The Government of Alberta marked...more

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