Depending on the state, post-production costs are either deducted “at the wellhead” or when the product has been placed in “marketable condition.” In Louisiana, the minerals are not owned by the landowner, but that person...more
It was jurisprudential Groundhog Day as the Supreme Court of Texas handed down Nettye Engler Energy v. Bluestone Natural Resources, another in a series of postproduction cost disputes, only two days after Puxsutawney Phil...more
Describe, in general terms, the key commercial aspects of the oil sector in your country. The US oil industry is divided into three sectors: upstream (exploration and production), midstream (processing, storage and...more
The recent drop in oil prices will likely spur a flurry of industry restructurings, governed by a complex set of bankruptcy and state laws. Introduction - At the close of business on December 31, 2014, the...more