Remove 2017 Remove Government Remove Royalty
article thumbnail

Nigeria Oil Industry Overview

Drillers

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. The government has been fighting the illicit refineries for years. The government had little choice but to try and negotiate peace with the militants.

Oil 52
article thumbnail

Strong Dissent Warns of “Devastating Economic Repercussions” of Second Circuit’s Decision in Oil & Gas Case

The Energy Law

T]he opinion will have a most chilling effect on the financing of oil and gas operations, which in turn will have an adverse economic effect on government and business in our state. The defendants will have until September 7, 2017 to seek a writ from the Louisiana Supreme Court. Tauren Exploration, Inc. , Chief Judge Henry Brown, Jr.,

Casing 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

Louisiana Second Circuit Addresses: (1) Creation of Mineral Servitudes Via Notarial Acts of Correction; (2) Obstacles Suspending the Prescription of Nonuse from Running Against Mineral Servitudes; and (3) Payment of Court Costs in Concursus Actions

The Energy Law

which governs notarial acts of correction: A. (1) 31:59 (2017)). [24] Article 1920 is the general rule under the Code of Civil Procedure governing the taxation of court costs. The first tract, which covered 63 acres, was transferred through a series of agreements including an act of exchange and a subsequent cash sale in 2007.

Spud-in 40
article thumbnail

With A New Regulatory Framework On The Horizon, There Is Still Much Uncertainty Concerning The Future Of Offshore Carbon Storage

The Energy Law

The CEQ report noted that royalty rate reduction credits for carbon capture could potentially create financial incentives for investment and recognized the need to address long-term liability after a storage site has been closed.

Offshore 105