Remove Crude Oil Remove Field Remove Information
article thumbnail

Upstream Midstream Downstream – What is the Difference?

Aresco

What is oil and gas upstream midstream downstream? Upstream involves locating, surveying, drilling, and extracting crude oil and natural gas from underground reservoirs. Midstream activities involve the transportation, storage, and wholesale marketing of oil and gas. This includes both onshore and offshore activities.

article thumbnail

The Tiber Prospect Well: BP Makes Giant Oil Discovery Deep in the Gulf

The Energy Law

By Kerry Murphy On Wednesday September 2, BP drilled the world’s deepest oil well – the Tiber Prospect Well – and discovered a huge pool of crude oil. For more information on the Tiber well, see [link] The Tiber well is located in the western Gulf of Mexico, southwest of New Orleans in U.S.

Oil 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

Liskow Obtains Victory for the Oil and Gas Industry in the Louisiana Third Circuit

The Energy Law

In a victory for the oil and gas industry, the Third Circuit rendered a decision rejecting attempts by the Louisiana Department of Revenue to impose severance taxes on crude oil production based on index pricing. To receive information from Liskow & Lewis, your information will be kept in a secured contact database.

Oil 40
article thumbnail

Investment Opportunities in the Oil and Gas Sector

Nestoil

Understanding these opportunities and their associated benefits can help investors make informed decisions. Upstream Investments; Exploration and Production (E&P): The upstream sector involves the search for oil and gas reservoirs and the extraction of these resources.

Oil 52
article thumbnail

AI in Oil and Gas – A Game-Changer for Efficiency and Profitability

Aresco

AI solutions can process real-time data from drilling operations, offering instant recommendations to field workers and reducing human error. Generative AI is also being utilized for knowledge management, enabling workers to access vital information instantly. Be sure to follow Aresco on LinkedIn !

Oil 52
article thumbnail

U.S. Fifth Circuit Greenlights Contribution Action for Purely Economic Damages Under Oil Pollution Act (OPA)

The Energy Law

A tug owned by Marquette collided with an oil-carrying barge owned by Settoon as the Marquette tug attempted to overtake the Settoon flotilla. As a result of the collision, approximately 750 barrels of light crude oil discharged into the river. Following the spill, the U.S.

Oil 40
article thumbnail

Louisiana Department of Revenue Targets Energy Companies in Rash of Oil Severance Tax Audits

The Energy Law

The value of the oil is the higher of: (1) The gross receipts received from the first purchaser, less charges for trucking, barging and pipeline fees, or (2) the posted field price. For instance, if the oil is purchased at or near the lease, the particular lease may include a deduction or premium applicable only to that lease.

Oil 40