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Force Majeure Clause Fails to Protect Oil and Gas Lessee From Mistakenly-Scheduled Deadline

The Energy Law

2023), the Texas Supreme Court held that the lessee could not invoke a force majeure clause to save its oil and gas leases when it inadvertently scheduled its operations to begin after the requisite deadline. The actual deadline, however, was May 21, 2017. MRC Permian Company , — S.W.3d 21-0461, 2023 WL 3028100 (Tex.

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United States Fifth Circuit Weighs in on La. R.S. 30:103.1 and 103.2 Notice Requirements

The Energy Law

Aethon Energy Operating, L.L.C. , 11, 2022), provides further guidance on what must be contained in correspondence from parties making demand on an operator under La. 11, 2022), provides further guidance on what must be contained in correspondence from parties making demand on an operator under La. Kelly Land Company, L.L.C.

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New IRS Guidance on Obtaining Refunds for Net Operating Loss Carrybacks, Corporate AMT Carryforward Credits and Filing Amended Returns for Partnerships

The Energy Law

116-136, enacted modifications to the rules for the use of net operating losses (“ NOLs ”) and corporate alternative minimum tax carryforward credits (“ AMT Carryforward Credits ”) for tax years beginning after December 31, 2017 and before January 1, 2021.

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United States Western District of Louisiana Issues Opinion on Notice Required Under La. R.S. 30:103.1 and 103.2 to State a Plausible Claim for Relief

The Energy Law

However, the existing authority recognizes that even if an operator fails to comply with such reporting requirements, an unleased owner must provide sufficient notice under La. The Plaintiff sued the operator of the Unit Well claiming entitlement to the forfeiture penalty under La. J-W Operating Co. [2]

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United States Western District of Louisiana Issues Opinion on Notice Required Under La. R.S. 30:103.1 and 103.2 to State a Plausible Claim for Relief

The Energy Law

However, the existing authority recognizes that even if an operator fails to comply with such reporting requirements, an unleased owner must provide sufficient notice under La. The Plaintiff sued the operator of the Unit Well claiming entitlement to the forfeiture penalty under La. J-W Operating Co. [2]

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The Meaning of “And” Determines Outcome of Oil and Gas Feud

The Energy Law

Oil and gas operator, Delaware Basin Resources LLC (DBR), entered into 13 leases with 13 mineral owners in February 2014, all of which were essentially the same. The leases also required DBR to commence drilling operations within the primary term of three years. Otherwise, the leases would terminate. All of the provisions.

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New IRS Revenue Ruling Provides Opportunities for Financing Carbon Capture Equipment

The Energy Law

The acid gas removal unit was installed by the owner of the methanol plant and placed in service on January 1, 2017, from which time the separated carbon dioxide was released into the atmosphere. For more information on carbon capture and section 45Q tax credits, see here , here and here.

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