article thumbnail

1/4 Century: What Was the Oil and Gas Industry Like in the Early 2000s? Part 2

Rextag

By 2005, analysts predicted the Bakken contained 4.3 billion in profit in 2005, the highest ever recorded by a corporation. By 2005, ExxonMobil produced over 4.1 By 2005, Halliburton serviced over 40% of the U.S. million barrels of oil equivalent by 2005. shale revolution. ExxonMobil Achieved $36.1

Oil 52
article thumbnail

MMS Preparations for Hurricane Season

The Energy Law

In preparation for hurricane season, which began on June 1, the Minerals Management Service has established a web site that brings together extensive hurricane-related information and resources.

Health 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Secretary of Interior Announces Reform in Nation’s Oil and Gas Development Policy

The Energy Law

Under the reformed policy, the Bureau of Land Management (BLM) will provide more detailed environmental review prior to leasing oil and natural gas resources. The goals of this reform are to improve environmental protection and to reduce costly litigation and protests. To read further, please go to [link]

Oil 40
article thumbnail

United States Court of Appeals Finds BOEM Environmental Impact Statement Deficient, But Declines to Vacate Leases Issued in 2018 Offshore Lease Sales

The Energy Law

The appeal concerned the three EISs prepared by the Department of Interior’s Bureau of Ocean Energy Management (BOEM) prior to Lease Sales 250 and 251. The court found that even though deficient, the supplemental EIS seemed correctible, and even partial relief would be disruptive to the lessees. [2]. Quoting PPL Wallingford Energy LLC v.

article thumbnail

Petrel Resources Raises £250,000 for Iraq Oil Projects

Iraq Business News: Oil & Gas

Irish-based Petrel Resources Plc (LON: PET) has raised 250,000 through a share placement managed by Novum Securities. The dramatic growth in North American fracked output between 2005 and 2014 is less of a concern for OPEC exporters. By John Lee. The placement represents a 45% discount to the closing price on 5 March 2025.

Oil 45
article thumbnail

Supreme Court Denies Relief to Oil Companies

The Energy Law

founded upon any contract,” applies to administrative royalty payment orders issued by the Minerals Management Service (MMS). . § 2415(a), which imposes a 6-year statute of limitations for Government “every action for money damages. The Court held that it does not. Amoco Production Co. Watson , 410 F.3d 3d 722 (D.C. Babbitt , 268 F.3d

Royalty 40
article thumbnail

One Man’s Waste is Another Man’s Treasure: Texas Appellate Court Holds that Produced Water Belongs to Mineral Owners

The Energy Law

COG owned the minerals under four leases in Reeves County, Texas executed between 2005 and 2014. 1] See Managing and Advancing Treatment Technologies for Produced Water , Office of Fossil Energy and Carbon Management (Apr.

Oil 98