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This weeks call from the International Energy Agency (IEA) for continued investment in existing oil and gas fields is another moment of truth for the Paris-based agency, highlighting its inconsistent messages about upstream investment, OPEC says.
(Oil Price) –ExxonMobils eighth oil project offshore Guyana will also be the biggest natural gas development of the Exxon-led consortium in the prolific Stabroek Block. Exxon and its partners in Guyanas oil projects, U.S. Exxon announced the first Longtail discovery in June 2018.
For the second successive session this week oil prices have slid further and faster. Then came a revelation that OPEC - deemed the most bullish of the crude oil demand growth forecasters - had revised its prediction lower for 2024 below 2 million bpd. Photo: Oil production site. jplenio / Pixabay , 2018.
World crude oil extraction reached an all-time high of 84.6 million barrels per day in late 2018, and production hasn’t been able to regain that level since then. World monthly crude oil production based on data of the US Energy Information Administration (EIA).
The second day of the fresh trading week has heaped yet more misery on the oil market. It means that as things stand - at least from the Oilholic's perspective - a $80 oil price is now the ceiling, and not the floor! Photo: Oil production site. Jplenio / Pixabay , 2018. More musings to follow soon.
In a recent opinion released by the United States Court of Appeals for the District of Columbia Circuit, the court declined to vacate a deficient environmental impact statement (“EIS”) prepared in connection with two offshore lease sales held in 2018, the records of decision announcing the sales, or the leases issued. NRC , 988 F.2d
According to a recent report from EY analysing the Norwegian Oilfield Services in 2018, all oil and gas sectors will. The post Real time onshore visibility on your offshore assets – digital twins in oil and gas appeared first on IFS Blog.
AUSTIN, Texas (March 13, 2025) Enverus, the most trusted energy-dedicated SaaS company announced today that it has acquired Pearl Street Technologies , a leading provider of automation solutions that streamline interconnection studies for transmission providers, utilities and energy developers.
and European major oil companies are beginning to re-evaluate their business structure and investment strategies in light of the current financial, legal, and social climate. In response, the industry is seeing a varying degree of investments in renewable energy and commitments to climate-related goals. gigawatts it currently has.
President Muhammadu Buhari has said that over 220 vessels involved in maritime criminality within Nigeria’s Exclusive Economic Zone, up to the Republic of Togo, between August 2018 and March 2023, have been prosecuted.
Aethon Energy Operating, L.L.C. , 30:9(B) in which Aethon Energy Operating, L.L.C. Kelly moved for partial summary judgment against Aethon, citing a December 15, 2017 letter and April 17, 2018 letter as satisfying the requirements of La. In addition, the April 17, 2018 letter also closely tracked La. 4th 369 (5th Cir.
Kelcy Warren, Executive Chairman and founder of Energy Transfer, has made a significant impact in both the energy industry and the realm of philanthropy. Warren has been recognized by numerous energy and business organizations for his innovative leadership and contributions to the industry.
Maverick Natural Resources has operations in Texas and Oklahoma Diversified Energy (DEC) has agreed to acquire Maverick Natural Resources, a private-equity-backed oil and gas producer, in a deal valued at approximately $1.3 billion, factoring in Diversified Energys assumption of $700 million in Mavericks outstanding debt.
and European major oil companies are beginning to re-evaluate their business structure and investment strategies in light of the current financial, legal, and social climate. In response, the industry is seeing a varying degree of investments in renewable energy and commitments to climate-related goals. gigawatts it currently has.
On Thursday, a divided panel of the Texas Court of Appeals in Houston held that the 2014-2015 drop in oil prices is not a force majeure for purposes of general force majeure contractual protection. 01-16-00579, 2018 WL 2437449 (Tex. 01-16-00579, 2018 WL 2437449 (Tex. Houston May 31, 2018). In TEC Olmos, LLC v.
A Regulatory Increase to the Limits of Liability for Oil Pollution and an Amendment Exempting Small Passenger Vessels from the Limitation of Liability Act Present New Challenges for Vessel Owners U.S. First, the Coast Guard announced [1] increases to the liability limits in the Oil Pollution Act of 1990 (“OPA”). [2] 78860 (Dec.
On or about May 23, 2018, several Defendants in the Coastal Zone Management Act (“CZMA”) Litigation filed Notices of Removal in 42 lawsuits filed against 212 oil and gas companies by six different parishes (Plaquemines, Jefferson, Cameron, Vermilion, St. Bernard, and St. John the Baptist), removing the cases to federal court.
In August 2018, dry natural gas production from the Haynesville shale averaged 6.774 billion cubic feet per day, which is the highest daily Haynesville production average since September 2012 when production averaged 6.962 billion cubic feet per day. August 2018 was not an anomaly. For example, in Alyce Gaines Johnson Special Trust v.
Despite the successful opening of the succession with administration in 2006, the Succession did not file suit against Defendants, including adjacent landowners and various oil and gas companies, for unpaid royalties, fraud and violations of LUTPA until 2018. A copy of the Third Circuit’s decision can be found here. and Texaco, Inc.
Lawsuits against fossil fuel companies: Investor Fraud Lawsuits: The first category of climate change litigation alleges that oil and gas companies defrauded investors by falsely stating that the company had fully considered the risks of climate change regulation and had factored those risks into its business operations.
They also must increase the length and power of their tools to help make the oil flow. Nick Pottmeyer Nine Energy Service handles many completion procedures. Averages of 10,000 were standard by 2018, when 12,500 became the new norm, LeBlanc observed. No oil and gas drillers allowed, at least not on the surface.
Despite the successful opening of the succession with administration in 2006, the Succession did not file suit against Defendants, including adjacent landowners and various oil and gas companies, for unpaid royalties, fraud and violations of LUTPA until 2018. A copy of the Third Circuit’s decision can be found here. and Texaco, Inc.
8, 2018). The case called upon the court to determine whether a contract for performance of specialty services to facilitate the drilling or production of oil and gas on navigable waters is maritime in nature. Gulf Oil Corp. , 16-30217 (5th Cir. 2d 313 (5th Cir.
Gulf Oil Corp. , [1] for determining whether a contract to perform services related to oil & gas exploration on navigable waters is maritime, the Fifth Circuit took up In re Larry Doiron, Incorporated [2] earlier this year in an effort to streamline the test and bring clarity to an area of the law mired in uncertainty.
That case is one of forty-two Coastal Zone Management Act (“CZMA”) cases that were removed to Federal court in May 2018. In granting Plaintiffs’ motion to remand, the Court first found that Defendants’ removal, which was predicated on allegations made in Plaintiffs’ April 30, 2018 expert report (“ Rozel Report”), was “simply too late.”
The Lyon Well was leaking in 2018, which prompted the LDNR to task the current operator (Sandhill Production, Inc.) The Litel case began as a legacy lawsuit, in which Pioneer Natural Resources, Inc. and Gary Production Company were named as prior operators of the G.A. Lyon Well #1. with stopping the leak.
When asked to describe The Future Digital Energy System in only two words, I instantly say decarbonized and decentralized. Decarbonization perfectly expresses the physical aspects of energy systems of tomorrow, which rely on a selection of technologies that minimize any excess carbon atoms emitted into the atmosphere. 1 energy source.
We create software solutions for participants in the oil and gas supply chain — the producers, suppliers and retailers who move bulk liquids like crude oil, natural gas liquids and derivatives like natural gas, propane, butane and more.
The VIDA, enacted in December 2018, will standardize incidental discharge permits and regulations, replacing the 2013 Vessel General Permit (“VGP”) that commercial vessels are currently required to follow. Although the deadline for doing so was December 4, 2020, these standards have not yet been finalized or implemented.
Yesterday, the United States Supreme Court heard oral arguments in the climate change lawsuit filed by the City of Baltimore in 2018 against energy companies. This case is one of a number of cases brought by states, cities, and other municipalities against energy companies alleging that the companies contributed to climate change.
In May 2018, oil and gas industry defendants removed a docket of 42 cases alleging violations of Louisiana’s coastal zone management laws to federal court in the Eastern and Western Districts of Louisiana (“CZM cases”). Auster Oil & Gas Incorporated, et al. (“ Auster ”), No. 18-677, 2019 WL 4734394 (W.D. 26, 2019), —F.
While oil and gas company-defendants—and several courts alike—have deemed the applicability of the subsequent purchaser doctrine to mineral leases a settled issue of law, plaintiff-landowners have continued to argue otherwise. In a unanimous opinion issued July 18, 2018 in Grace Ranch, LLC v. BP America Production Company, et al. ,
1] (“ Bayou Bridge ”) centers around the construction of a crude oil pipeline from the Clifton Ridge terminal in Lake Charles, Louisiana to a marketing hub in St. On July 27, 2018, Peter Aaslestad, one of the Landowners, brought suit to enjoin BBP from illegally continuing its construction on the property. Martin Parish, et al. [1]
The new update seeks to further clarify the framework for carbon capture and storage, in part, by authorizing the commissioner to approve the conversion of depleted oil formations and existing enhanced oil or gas recovery operations into geologic storage facilities. A state with UIC primacy oversees the UIC program in that state.
Yesterday, the United States Supreme Court heard oral arguments in the climate change lawsuit filed by the City of Baltimore in 2018 against energy companies. This case is one of a number of cases brought by states, cities, and other municipalities against energy companies alleging that the companies contributed to climate change.
Sojitz Energy Venture, Inc. Union Oil Co. Marubeni Oil & Gas (USA), Inc. , 2018) (“parties will always be jointly and severally liable to the government for the cost of decommissioning, no matter what their contract provides”). of California , 394 F. 3d 687 (S.D. Parker Drilling Co. , 3d 558, 563 (5th Cir.
Plaintiffs, unleased mineral owners, owned a tract of land adjacent to property leased by Southwestern Energy Production Company. Southwestern Energy Production Company decision or other legal issues relating to hydraulic fracturing and subsurface trespass, please contact Jamie Rhymes, Jeff Lieberman, or Caleb Madere. [1] 3d 1, 4 (Tx.
allowing an $81 million judgment against the oil company to stand. The judgment is the latest in a suit the EPA filed against CITGO under the Clean Water Act for a 2006 spill at the oil company’s St. See Environmental Enforcement Results for 2015 , 2015 ABA Env’t Energy, & Resources L.: Charles refinery. Adm’r of E.P.A.
1] (“ Bayou Bridge ”) centers around the construction of a crude oil pipeline from the Clifton Ridge terminal in Lake Charles, Louisiana to a marketing hub in St. On July 27, 2018, Peter Aaslestad, one of the Landowners, brought suit to enjoin BBP from illegally continuing its construction on the property. Martin Parish, et al. [1]
hands a victory to financiers of oil and gas operations and settles a long-running controversy over the amount of damages available for failure to pay mineral royalties. The Louisiana Supreme Court’s reversal of Gloria’s Ranch, L.L.C. Tauren Exploration, Inc.
On March 29, 2018, the United States Court of Appeals for the Third Circuit issued its ruling in In re: Petition of Frescati Shipping Co., ATHOS I had its genesis in a 2004 vessel allision and oil spill on the Delaware River between New Jersey and Pennsylvania. as Owner of the M/T ATHOS I , Nos. 2701, et seq. 2701, et seq.”
The new update seeks to further clarify the framework for carbon capture and storage, in part, by authorizing the commissioner to approve the conversion of depleted oil formations and existing enhanced oil or gas recovery operations into geologic storage facilities. A state with UIC primacy oversees the UIC program in that state.
This decision is likely to have far-reaching consequences for Louisiana legacy litigation, where courts have seen a recent uptick in claims by landowner-plaintiffs brought under the citizen suit provision of Louisiana Revised Statute 30:16, seeking to have their property remediated due to alleged contamination by historical oil and gas operations.
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