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EIA Lastest News – Product Prices & Pipeline News

The Energy Law

Crude oil was up over $2 per barrel. Predictions of an underuse of an LNG regasification capacity continue. . – Transco Gas Pipeline Corporation released a notice on September 4 regarding firm backhaul transportation service for winter 2007-2008. The service period will be from October 1, 2007, through April 30, 2008.

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Texas Supreme Court Holds that Add-Back Provision in Oil and Gas Lease Required Royalties to be Paid on Prices in Excess of the Producers’ Gross Proceeds

The Energy Law

The lessees owned working interests in certain oil and gas leases that were executed in 2007. Sheppard , — S.W.3d 20-0904, 2023 WL 2438927 (Tex. The leases contained the following royalty provisions: 3. The lessees did not add that eighteen dollars back to the lessors’ royalty base.

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EIA Report – Product Prices and Pipeline News

The Energy Law

The Energy Information Agency reported as follows in its September 13, 2007, report: Since Wednesday, September 5, natural gas spot prices increased as tropical storms threatened to disrupt supplies and pipeline explosions in Mexico stirred concerns of supply security. MMBtu UP $0.32 West Texas Intermediate Spot $79.85/Bbl

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Murphy Oil Spill Class Settlement Approved

The Energy Law

On January 30, 2007, a class action settlement was approved in Turner v. Approximately 25,000 barrels of oil were released, and washed by floodwaters into the residential neighborhoods surrounding the refinery. Murphy Oil U.S.A., 05-4206 (E.D. The court found that at least 1,800 properties were affected.

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