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U.S. Treasury Secretary Attacks Tax Breaks for Oil & Gas Companies

The Energy Law

The Secretary’s comments, made when speaking to the Senate Finance Committee on the proposed budget, reinforced the Obama administration’s stance that new U.S. However, the tax will only affect companies currently using a loophole to avoid paying royalties on the energy supplies they drill. billion from 2011 to 2019.

Oil 40
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Louisiana Second Circuit Finds Holder of Mortgage Encumbering a Mineral Lease Solidarily Liable with Mineral Lessees for Damages Under the Louisiana Mineral Code

The Energy Law

1] In the case, a landowner sued its mineral lessees for: (1) failure to provide a recordable act evidencing the expiration of a mineral lease under Mineral Code articles 206-209 and (2) failure to pay royalties under Mineral Code articles 137-140. [2] in unpaid royalties and an additional double damages penalty of $484,058.52

Royalty 40
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30% of Ghana’s crude oil consumption purchased through Gold for oil programme – Lands Minister

Reporting Oil and Gas

During the presentation of the 2024 Budget to Parliament, the Finance Minister highlighted the positive impact of the policy, citing a reduction in the exchange rate from GHS17 to a dollar in November 2022 to GHS12 to a dollar in November 2023. Additionally, petrol prices decreased from GHS23 per litre to GHS12 per litre.

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Calling Dibs! Oil and Gas Security Interests and Texas’ Unique First Purchaser Statute

Producer's Edge

Foremost among these perfection methods is the filing of a “UCC-1” financing statement with the secretary of state. In other words, a perfected security interest is subordinate or “second in line” to the security interest rights of anyone whose interest becomes perfected before your security interest is perfected.

Oil 52
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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. Tauren Exploration, Inc. , A detailed summary of that decision is available here. Chief Judge Henry Brown, Jr., Bleich.”

Casing 40
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Whitecap Resources, Veren to combine to form C$15 billion Canadian energy giant

Oil & Gas 360Âş

Leading Low Decline Light Oil Position in Saskatchewan : The combined company becomes the second largest producer in Saskatchewan with consolidated assets in west and southeast Saskatchewan. These foundational assets have approximately 7,000 development locations to support meaningful free funds flow generation into the future.

Energy 130
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THE BRILLIANT GOLD STRATEGY IN PLAIN SIGHT–THAT NEXGOLD IS EXECUTING

Oil and Gas Investments

Once production financing is in place, it takes us to the 200,000 ounce a year production level200,000 low cost ounces a yearde-risked. Assuming the $11 million financing that was announced with the deal gets filled, Nexgold will have $18 million gross cash and $12 million gross debt on the balance sheet. Nebari also gets a small 0.6%