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Oil & Gas Commercial Leases Leases

Steptoe & Johnson PLLC

Colorado Supreme Court Clarifies the Law Applicable to Oil and Gas Leases

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The Colorado Supreme Court on November 20, 2023, issued a long-awaited decision that reversed a 2021 panel of the Colorado Court of Appeals by rejecting the universal application of the “commercial discovery rule” to Colorado...more

Opportune LLP

Under New Lease Standard: Interpreting ‘Class of Underlying Asset’

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The Financial Accounting Standards Board (FASB) has issued several new Accounting Standards Codifications (ASC) and Accounting Standards Updates (ASU) over the past two years. This has resulted in management teams furiously...more

Opportune LLP

What Does Record BLM Oil & Gas Lease Auction Mean For Valuation?

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On September 7, 2018 the Bureau of Land Management’s (BLM) third-quarter oil and gas lease sale in New Mexico broke all previous records for BLM lease sales across the country, generating $972.48 million in bonus bids for 142...more

King & Spalding

Outer Continental Shelf Leasing: BOEM Withdraws Controversial Sole Liability Orders

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On February 17, 2017, the Bureau of Ocean Energy Management (“BOEM”), which manages oil and gas leasing in the Outer Continental Shelf, announced that it is withdrawing previously-issued orders to sole liability property...more

Baker Donelson

BOEM Suspends Implementation of New Financial Assurance Requirements

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The Bureau of Ocean Energy Management (BOEM) announced Friday, January 6, that it would suspend the implementation of the new financial assurance requirements relating to decommissioning obligations of lessees’ facilities on...more

McGuireWoods LLP

Pennsylvania Court: Sublease of Production Rights Does Not Sever “Dual-Purpose” Oil and Gas Leases

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In a published opinion, the Pennsylvania Superior Court ruled that utilization of the subject land for gas storage held production rights under a “dual-purpose” lease providing for both storage and production. See Loughman v....more

McGuireWoods LLP

Pennsylvania Court: Using Property for Gas Storage Holds Production Rights Under “Dual Purpose” Leases

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A recent trial victory for Range Resources – Appalachia LLC and Columbia Energy Ventures LLC (CEV) fills gaps left by the prior leading decisions on “dual purpose” storage and production leases, and cements the rights of...more

Gray Reed

Consider The Retained Acreage Clause

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Have you ever wondered about the original purpose of the retained acreage clause? According to Professor Kramer, it was “to prevent the lessee from losing those portions of a lease that had productive wells thereon if the...more

K&L Gates LLP

CO2 Separation Anxiety—Is the cost of separating CO2 from casinghead gas a “production” or “post-production” cost for purposes of...

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In a recent decision, the Supreme Court of Texas concluded that the cost of removing carbon dioxide (“CO2”) from casinghead gas after completing enhanced oil recovery operations is a “post-production” cost, thus clarifying...more

BakerHostetler

BLM Agrees to Complete Hydraulic Fracturing EIS for Leases in California

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A recent agreement between environmentalists and the Bureau of Land Management (BLM) may open the floodgates to challenges of the sufficiency of Environmental Assessments (EA) or Environmental Impact Statements (EIS) for oil...more

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