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Operators May Earn and Sell Carbon Credits for the P&A of Inactive, Shut-in, or Temporarily Abandoned Wells

The Energy Law

Operators may now have the potential to sell carbon credits in exchange for the P&A of inactive, shut-in, or temporarily abandoned wells. Although Louisiana is allocating significant funds to P&A orphan wells, there is a lack of financial incentive for operators to address AOOG wells. Well Eligibility.

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New IRS Revenue Ruling Provides Opportunities for Financing Carbon Capture Equipment

The Energy Law

It is the second conclusion above that ruling that provides new opportunities for owners of plant facilities to finance the investment in carbon capture equipment necessary to prevent emitting carbon dioxide produced at their facilities into the atmosphere.

Finance 59
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U.S. DEPARTMENT OF INTERIOR ISSUES 60-DAY MORATORIUM ON FEDERAL LEASING AND DRILLING PERMITS

The Energy Law

The Order, however, does not limit oil and gas operations under valid leases, so previously approved activities and operations can continue. Privacy Policy: By subscribing to Liskow & Lewis’ E-Communications, you will receive articles and blogs with insight and analysis of legal issues that may impact your industry.

Oil 76
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Wind Energy Development in the Gulf of Mexico

The Energy Law

The Bureau of Ocean Energy Management (BOEM), a sub-agency within Interior, promulgated regulations in 2009 which set forth the procedure for leasing, siting, construction, and operation of offshore wind projects. The Construction and Operations Plan for this project was approved by BOEM in 2021. Over the past year, the U.S.

Energy 98
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Louisiana First Circuit Reaffirms Prescription and Subsequent Purchaser Principles

The Energy Law

for alleged damage to its property arising out of Chevron’s and its predecessor’s oil and gas operations in the Sardine Point Field from 1959 through 1991. To finance the sale, lenders also required Lexington Land to hire a consultant to prepare environmental assessments of the property. 5/25/21), 2021 WL 2102932, —So.

Casing 59
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Congressional Expansion of CCF Program

The Energy Law

By way of background, originally, only vessels operating in the United States foreign, Great Lakes, noncontiguous domestic, or in the fisheries of the United States could be constructed or improved under the program. The Capital Construction Fund (“CCF”) program is designed to encourage owners of U.S.

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Texas Court Holds Drop in Oil Prices is Not Force Majeure

The Energy Law

As a result, Olmos was unable to secure financing for drilling and informed ConocoPhillips that it would be unable to meet its drilling obligations. Under this precedent, oil and gas operators should be careful to expressly identify any market-based risks that they want to encompass within force majeure provisions.

Oil 40