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The oil and gas industry navigates a transformative 2025 period shaped by strategic consolidations, maturing resource plays, and shifting market fundamentals. Forecast: With companies securing three to seven years of viable inventory at $70/ bbl oil, M&A activity is expected to remain a cornerstone of strategy through 2025.
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Factual Background In July of 2008, nearly 300,000 gallons of oil spilled into the Mississippi River in New Orleans when a tugboat towing an oil-filled barge veered across the river into the path of an ocean-going tanker. American Commercial Lines, L.L.C. , 16-31150, F.3d 3d (5th Cir. 2703(a) 33 U.S.C. 2704(c)(1).”
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.
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.
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