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Brazil has revised its rules for setting the reference price for crude oil produced in the country in a bid to boost government revenues from royalties paid by oil companies operating in Brazil. The new rules will take effect from September, affecting royalty distribution in November.
(Oil Price) – Chevron will transfer part of the oil it produces in Venezuela to the Maduro government, Bloomberg has reported , citing unnamed sources. granting a sanction exemption to the supermajor so it could continue operating in Venezuela. federal government from making any cash payments to the Venezuelan government.
” Entropy Operational Update Entropy continues its successful operations and scale-up of carbon capture and sequestration operations at the Glacier gas plant. Entropy anticipates Glacier Phase 2 will reach commercial operations by Q2 2026. GJ/Tonne CO 2 captured. About Entropy Inc.
Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May. (World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S.
The event brings together the global energy investment community to connect with executive leadership across the energy value chain with nearly 80 companies participating in the conference with operations spanning the globe. Qualified investment professionals may register at no cost. London, Mexico City, and Shanghai.
The company will be sharing case studies showing where Teren’s high-fidelity terrain data and predictive analytics are already saved clients millions annually by identifying and mitigating environmental threats before they impact operations. The company estimates there to be over 2.5
The event that brings together the global energy investment community to connect with executive leadership across the energy value chain with nearly 80 companies participating in the conference with operations spanning the globe. London, Mexico City, and Shanghai.
Conference Overview Conference Details: EnerCom Denver offers investment professionals a unique opportunity to network and listen to senior management teams from leading companies across the energy value chain update investors on their operational and financial strategies and learn how they create value for stakeholders.
Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. Conference Dates: August 17–20, 2025. EnerCom will host its annual Charity Golf Tournament on Sunday, August 17th at the scenic Arrowhead Golf Club in Littleton, Colorado.
Oklo has a DOE site permit for its first reactor at the Idaho National Labs with plans for commercial operation by 2028. The company operates three active U.S. mines, including the high-grade Arizona Pinyon Plain mine, and processes ore at its White Mesa Mill in Utah—the only operational conventional uranium mill in the country.
Today they are recognized as the worldwide leader of petroleum property analysis to industry and financial organizations, and government agencies. Conference Dates: August 17–20, 2025. EnerCom will host its annual Charity Golf Tournament on Sunday, August 17th at the scenic Arrowhead Golf Club in Littleton, Colorado.
(Oil Price) – Brazil has revised its rules for setting the reference price for crude oil produced in the country in a bid to boost government revenues from royalties paid by oil companies operating in Brazil. The new rules will take effect from September, affecting royalty distribution in November. billion to date.
West, would ease limits on so-called commingling, which the department said would make operations more efficient. Bureau of Land Management regulations restrict commingling to leases that have identical mineral ownership, royalty rates and revenue distribution. Current U.S.
“The combined bonus bids and rentals from the leases will be distributed between the federal government and the State of New Mexico”, the DOI added. “This lease sale is the first conducted under the One Big Beautiful Bill Act, which reset the royalty rate for new federal onshore oil and gas production to a minimum of 12.5
This $118 million transaction doubles the Companys present ownership interest in a portion of its Marcellus Shale royalties position (across 475,000 gross unit acres) primarily focused in Washington and Greene counties, Pennsylvania. The transaction has an effective date of January 1, 2025. Herz, Chief Executive Officer of WhiteHawk.
But Giustra brought in a new operating team, and led the initial finance rounds into West Red Lake Gold Mines (WRLG-TSX) —and now, VOILA—they just announced commercial production. of government approvals already in place. So the government needs all the employment, taxes and royalties from this asset.
By EDF Blogs By Aaron Wolfe, Ari Pottens , and Scott Seymour EDF economic analysis found that in 2022 oil and gas operators across Alberta wasted $671 million in natural gas, costing the provincial government over $120 million in lost royalties and uncollected corporate taxes.
Accordingly, auditing of royalty payments was left to the Mineral Board’s internal accountants, and when an issue arose as to whether royalty payments were made correctly, the Mineral Board’s land personnel and internal counsel would oversee sending demands and pursuing litigation against the State’s mineral lessees and well operators.
The Louisiana Legislature’s 2023 Regular Session begins on April 10th, and last Friday, Louisiana Senator Allain of District 21 filed SB 154 proposing to enact a statutory framework directly governing the rights and obligations of parties to renewable energy leases. 122); The lessee of a renewable energy lease would be “bound to.
With access to one of the largest natural gas reserves in the world, the region has seen hundreds of thousands of family-sustaining jobs created across sectors not only in drilling and pipeline operations, but also in manufacturing, construction, engineering, and local service industries. The program has provided $2.7
With the prevalence of cases involving royalty disputes in Texas, the state’s Supreme Court has never hesitated to address these issues. But the Court’s sporadic holdings regarding royalty clauses, each so specific to the particular language of the lease, have left lessees on unsteady footing. Heritage Resources , 939 S.W.2d
A 2023 Government Accountability Office report found 24 of the 30 largest U.S. At PIT, our microgrid ensures uninterrupted power even when the grid is down, Joe Broadwater, who oversees the power plant at PITs microgrid operator Cordia, told the Pittsburgh Business Times. The numbers speak for themselves.
Gulf Keystone Petroleum (GKP) has published details of its payments to governments for the year 2024: Introduction This report sets out details of the payments made to governments by Gulf Keystone Petroleum Ltd and its subsidiary undertakings ('Gulf Keystone') for the year ended 31 December 2024 as required under Disclosure and Transparency Rule 4.3A
Like traditional exploration and development, CCUS projects require the operator to secure both the necessary private property rights from landowners as well as regulatory approval from the appropriate administrative agency in order to proceed. In addition to the unit order, the operator must receive approval for its injection wells.
Specifically, the acquisition is accretive on an annualized basis to 2025 EBITDA by 10%, and cash flow from operations and free cash flow by 9%. Accretive financial metrics The transaction is immediately accretive to EOGs net asset value as well as all per-share financial metrics.
Most notably, PITs cutting-edge microgrid , backed predominately by natural gas, ensures seamless airport operations even in the face of grid failures that cripple other major transportation hubs while keeping energy costs and emissions low.
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. The operator of Egina is China’s CNOOC: Chinese oil companies are expanding internationally, and Nigeria is one of the destinations, despite the challenges.
District Court for the Western District of Louisiana held that a unit operator may not recover post-production costs from an unleased mineral owner’s share of production proceeds in Allen Johnson, et al. 30:10 governed whether a unit operator may deduct post-production costs against UMO’s share of production proceeds. [3]
May 16, 2025), the Texas Supreme Court resolved two significant issues affecting mineral owners and surface owners: (1) who owns the empty caverns created by salt mining operations, and (2) how to calculate royalty payments on produced salt. Despite this substantial production, USM did not pay Myers any royalty.
Title I addresses the existing moratoria, future OCS access, exploration, production and royalty questions. per MMBtu, unless lease royalties were renegotiated with the Secretary , imposes Conservation of Resources Fee on nonproducing lease acreage of $3.75 House of Representatives passed Speaker Pelosi’s Energy Bill, H.R.
Another significant issue that will have to be addressed is the liability of operators and lessees or rights holders for potential leaks from offshore CCS projects. Interior is currently conducting ongoing research on various technical and operational issues associated with offshore CCS.
James Boldrick is an assignee of an overriding royalty interest in property subleased to BTA. Boldrick sued BTA and Chevron/Texaco, seeking monetary damages based upon breach of contract, unjust enrichment and conversion, alleging that his share of the overriding royalty interest was being used to benefit the Defendants.
After years of planning, political negotiation, and construction, the LNG Canada export terminal in Kitimat is nearly operational and it could mark a turning point for Canadas natural gas industry. This “chill-down” phase is one of the final steps before the terminal becomes fully operational.
Visible Long-Term Synergies: Visible operating, capital and corporate synergies which, in addition to supply chain efficiencies, can generate meaningful savings. Anticipated annual synergies of over $200 million can be achieved independent of commodity prices and will begin to be captured upon closing of the transaction.
Last year, in another dispute over who should bear the cost of decommissioning offshore facilities, the Southern District of Texas held that a former sub-assignee of offshore operating rights was entitled to equitable subrogation from the record title owner and initial assignor. UNOCAL also reserved a 3% overriding royalty.
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
Read more 25% royalty rate cap on prime oil and gas land heads to the House Summary : The New Mexico Senate passed Senate Bill 23 in a 21-15 vote, advancing legislation to raise the maximum royalty rate on prime oil and gas land in the Permian Basin from 20% to 25%. The EIA forecasts U.S. crude output to grow from 13.2 energy exports.
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.,
Brazilian government data (SECEX) from January 16, 2024, shows that Brazil exported about $166.6 A WORLD-CLASS MINE Brazil Potash expects Autazes to produce roughly 2.4Mt of potash (MOP) once operating at full capacity enough to satisfy 20% of Brazil’s needs. What’s left is the operating license.
Recently, when there was talk about Houston-based ATP Oil and Gas’ (ATP) legal problems, it was inevitably about its bankruptcy and its effort to bring the overriding royalty interests it had conveyed back into the bankrupt estate as debt instruments. ATP is the ATP Innovator’s operator and ATP-IP is the platform’s owner. 955 F.Supp.2d
DRB resident Betty Sutliff testified before the State House Government Committee. Appalachia producers consistently have the lowest methane emissions intensity of all the basins, underscoring local operators dedication to environmental stewardship. Who gave [politicians] the right to choose prosperity for some and poverty for others?
DRB resident Betty Sutliff testified before the State House Government Committee. Appalachia producers consistently have the lowest methane emissions intensity of all the basins, underscoring local operators dedication to environmental stewardship. Who gave [politicians] the right to choose prosperity for some and poverty for others?
In Petro-Chem Operating Co., 1] In the case, an operator initiated a concursus action seeking to resolve ownership interest in minerals underlying property on which it was operating. which governs notarial acts of correction: A. (1) Flat River Farms, L.L.C. , Flat River Farms, L.L.C. ,
The equity for these LLCs is known as “membership interests” but may be referred to in the LLC operating agreement as “units”. Many LLC operating agreements provide for the issuance of additional membership interests or units, but may not provide for the issuance of a different class of membership interests or units.
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