Resource Extraction

News & Analysis as of

Congress Passes Major Public Lands Package

For the first time in nearly six years, Congress passed a major package of public lands and natural resource bills, which was signed into law by President Obama on December 19, 2014. The package combined dozens of bills...more

Focus on Pennsylvania Corporate Taxes

With the November 4th election of Democrat Tom Wolf as Pennsylvania’s next Governor, Pennsylvania corporate taxpayers face an interesting budget season in 2015. During the campaign, Wolf advocated for a severance or...more

Terms & Conditions under Texas Law: A Potential Liability Trap for Oilfield Operators

A common misconception exists that pre-printed terms and conditions on a job ticket do not rise to the level of a legal contract. This view is not correct. Terms and conditions can and will be enforced by Texas courts. Such...more

Courts Uphold Supplemental Assessment of Wells and Related Facilities/Improvements; and Validate Use of Cost Approach

The County of Kern Tax Assessor’s (“Assessor”) use of the cost approach to value to appraise new oil and gas wells for the purpose of levying supplemental assessments has been upheld by the Fifth District Court of Appeal. In...more

SEC Sued to Implement Resource Extraction Rules

On July 2, 2013, the United States District Court for the District of Columbia vacated the SEC’s resource extraction rules which were mandated by the Dodd-Frank Act. Since that time, industry players have asked the SEC to...more

New Disclosure Rules for Extractive Companies Coming Into Force Soon

UK companies, including UK subsidiaries of EU companies, face tougher anti-corruption rules from next year. Under chapter 10 of the EU Accounting Directive (2013/34/EU) (“the Accounting Directive”) and the EU...more

Congress and Industry Want Resource Extraction Rules Finalized

In 2013 the United States District Court for the District of Columbia vacated the SEC resource extraction disclosure rules that were mandated by Section 1504 of the Dodd-Frank Act. Fifty-eight Democratic lawmakers have...more

Advances in Drilling Techniques Push U.S. Oil Rig Count to New Record High

Operators’ ability to develop previously untapped oil reserves through horizontal drilling techniques has led to a record 1,443 oil rigs currently in operation in the U.S. according to a report released last week by Baker...more

California Lawmakers Introduce New Fracking Bill

On February 20, 2014, California lawmakers Holly Mitchell (D-Los Angeles) and Mark Leno (D-San Francisco) introduced Senate Bill (SB) 1132, a new bill that would halt fracturing and other oil and extraction practices in the...more

Mineral Matters - Winter 2014

Introduction - Welcome to the latest edition of Minerals Matters and a slightly belated Happy New Year to you all. No doubt as you read this the holiday season seems a long time ago, but hopefully you had the oppor...more

Michigan Lawmakers Evaluate Lower Severance Tax and Infrastructure Bills for Carbon Dioxide-Injected Oil and Gas Wells

While legislation driven by the rapid growth of horizontal drilling and hydraulic fracturing has dominated oil and gas legislation in recent years, this week, Michigan lawmakers considered bills to enhance viability of other...more

Texas’ Eagle Ford Formation Leads U.S. in Oil-and-Gas Transactions in 2013

In a year where overall upstream oil-and-gas transactions were down significantly from the previous year, the Eagle Ford shale formation in South Texas proved to be an active region for companies looking to make a deal....more

Pennsylvania Supreme Court Weighs in on Amendments to Pa. Oil and Gas Act

In a recent decision, the Pennsylvania Supreme Court held as unconstitutional several provisions in Act 13, which, in part, amended Pennsylvania's Oil and Gas Act to permit oil and gas operations in all zoning districts....more

Historic reform in Mexico clears the way for foreign investment in energy sector: 5 key aspects

The energy reform proposed by Mexico’s Peña Nieto administration has been approved by the Mexican Congress and, in rapid succession, by a majority of the Mexican state legislatures. This sweeping, historic reform amends the...more

Representatives Object To Exemption From Resource Extraction Rule Disclosures

Congress is working to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico. Three Democratic lawmakers recently wrote...more

Does SEC Independence Mean A Lack Of Accountability?

Earlier this week, Broc Romanek highlighted a recent panegyric on SEC independence given by SEC Chairwoman Mary Jo White. Independent agencies are the platypodes of the federal government. Many are inclined to view...more

Assembly Committee Advances Fracking Bill to the Floor

At the end of last week, the Assembly Committee on Appropriations advanced the remaining bill regarding hydraulic fracturing, SB 4, to the Assembly Floor. After delaying the first scheduled vote on the bill, Appropriations...more

SEC Will Not Appeal Resource Extraction Decision

The United States District Court for the District of Columbia previously vacated the SEC resource extraction disclosure rules. According to various published press reports, the SEC will not appeal the decision. “The court...more

Public Comment Period for Proposed Federal Fracking Regulations Draws to a Close

The public comment period for new federal regulations regarding fracking on public lands—the first substantive update to the rules in three decades—ended on Friday with over 1 million submissions from both critics and...more

Old Rules Are Learned Anew In Louisiana Servitude Case

Occasionally in my litigation experience I’m reminded of time-honored rules of law. Often I’m pleased, sometimes I’m not. So it was, I assume, for the parties in Midnight rilling, LLC v. Triche et al....more

Recent Hydraulic Fracturing Trends in the United Kingdom

August is known as the “silly season” in the U.K. media. With a large part of the country on vacation, it is a month in which newspapers struggle to fill column inches. Stories emerge that would typically not receive as much...more

In Case You Missed It - Interesting Items for Corporate Counsel (Cumulative)

As forecast, there is no shortage of law firm memos describing Regulation D changes, including the final rules eliminating the general solicitation ban (here) and prohibiting "bad actor" participation (here) and the proposed...more

BLM Announces an Environmental Assessment to Address Fracking in California

Last week, the Bureau of Land Management (BLM) issued a notice of intent to prepare an environmental impact statement (EIS) under the National Environmental Policy Act (NEPA) to address hydraulic fracturing on federal lands...more

Department of Energy Report Indicates Fracking Has Not Contaminated Drinking Water in Western Pennsylvania

A recent study by the Department of Energy’s National Energy Technology Laboratory (NETL) indicates that chemical-laced fluids used in hydraulic fracturing, or fracking, have not contaminated the drinking water at a test...more

The Shale Play Today - July 2013

In This Issue: - Legislative Update: Pa. Passes Oil & Gas Lease Act: On July 9, 2013, Governor Corbett signed the Oil and Gas Lease Act, Senate Bill No. 259 of 2013 (the"Act"), which amends Pennsylvania's...more

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