Recent Advances in Nuclear Energy
Nuclear energy has been discreetly powering America with clean, carbon-free electricity for the last 60 years. There are ninety-two commercial reactors across over half the states in the US today. Last year, nuclear energy provided 47% of America’s carbon-free electricity, making it the largest domestic source of clean energy. Nuclear energy can be a controversial... Read More
Pore Space Ownership and Utilization
INTRODUCTION Pore space ownership poses a novel property law issue concerning carbon dioxide sequestration in underground geological formations within the United States. One must grasp the distinction between surface and mineral estates to properly assess pore space ownership and effectively execute land acquisitions for carbon storage agreements. The surface estate encompasses elements above ground, including... Read More
Caselaw Update: Devon Energy Production Company, L.P. v. Sheppard
In Devon v. Sheppard, the Supreme Court of Texas recently addressed a highly unique issue concerning the calculation of oil and gas royalties. More specifically, the Court addressed whether lease language dictated that a Landowner’s royalty payments should be based not only on gross proceeds, but also on a third-party buyer’s postproduction costs that accrue... Read More
Caselaw Update: Van Dyke v. The Navigator Group
On February 17, 2023, the Texas Supreme Court issued its decision in Van Dyke v. The Navigator Group, ending roughly ten years of litigation stemming from a disputed mineral interest reservation involving double fractions and $44 million in accumulated royalties. This ruling has the potential to impact conveyances and leases taken as far back as... Read More
Industry Update: Federal Court Threatens Wyoming Leases
Following a federal judge’s approval of a trio of settlement agreements in response to lawsuits brought on behalf of climate activist organizations such as WildEarth Guardians, President Biden’s Department of the Interior will review and reconsider decisions to sell oil and gas leases on public lands in Colorado, New Mexico, Utah, Montana, and Wyoming. More... Read More
The Texas Two-Step & Fraudulent Asset Transfers
The Texas Uniform Fraudulent Transfer Act (“TUFTA”), defines a fraudulent transfer as a transfer made by a debtor (1) with actual intent to hinder, delay or defraud a creditor, or (2) without receiving a reasonably equivalent value in exchange for the transfer in proportion to the debtor’s remaining assets or ability to repay its debts.... Read More
Regulatory Update: Saltwater Disposal Wells and Increased Seismicity
Historically, Texas has not been known for any meaningful seismic activity. However, minor earthquakes have dramatically increased in recent years, particularly in the Permian Basin. In 2021 alone, west Texas experienced roughly 2,000 earthquakes, which was almost double the amount recorded in 2020. While many of these earthquakes have not caused any significant damage, there... Read More
Carbon Sequestration in Texas
The first major offshore Carbon Capture and Sequestration (CCS) project is set to take place on Texas’ Gulf Coast. Carbon Sequestration is the process of injecting Carbon Dioxide (CO2) into geologic formations and trapping it in the pore space. Talos Energy Inc., a prominent offshore energy company in the Gulf of Mexico and Carbonvert, Inc.,... Read More
Market Update: Impacts of Russia’s War with Ukraine
Russia’s invasion of Ukraine triggered an immediate jump in already rising oil prices, which analysts speculate will continue to rise as the crisis continues and the global response escalates. In addition to severe economic sanctions against Russia, on March 8, 2022, the White House announced a U.S. ban on Russian oil imports and new investment... Read More
Federal Regulatory Update: Methane Rules
In 2012 and 2016, the Environmental Protection Agency under the Obama administration promulgated historic new rules aimed at reducing methane emissions resulting from oil and gas operations. Larger operators were prepared for the new regulations, having already implemented practices to capture and sell methane; the impact was largely felt by the mid-sized and smaller operators... Read More