Monthly Archives: March 2016

Oil & Gas Update for 3/25/2016 – Storage Rights Save PA Oil and Gas Lease, PHMSA’s Proposed Pipeline Safety Rules Target More Gathering Lines, and the TX Court of Appeals Upholds a Washout

The national rig count dropped 12 units since last week, while the Marcellus and Utica rig counts remained relatively flat.  Natural gas spot prices increased slightly while oil prices based on the Brent Crude and West Texas Intermediate benchmarks ebbed and flowed during the week before dipping below $40/bbl. In Appalachia, storage rights prevail in a lease-busting attempt in Pennsylvania while an Ohio federal judge denies a motion to dismiss plaintiffs’ claims that their lessee and its midstream counterpart committed RICO violations for deducting post-production costs from royalty payments. Elsewhere, PHMSA is poised to expand its pipeline safety jurisdiction while the Texas Court of Appeals upholds a “washout.”  Here’s your week in review: About The Author

Posted in Weekly Updates

Oil & Gas Update for 3/18/2016 – PA Royalty Legislation Back in the Mix, POTUS Picks Garland to Fill SCOTUS Slot, and FERC Denies LNG Project Approval for Lack of “Need”

The national rig count took another hit, dropping another 4 units since last week, while the Marcellus and Utica rig counts remained relatively flat.  Natural gas spot prices rebounded slightly after dipping below a dollar last week while oil prices based on the Brent Crude and West Texas Intermediate benchmarks continue to hold at around $40/bbl. In other news, things are relatively quiet.  In Pennsylvania, a controversial bill on royalty payments and post-production costs takes center stage at an informational hearing held by the House Environmental Resources and Energy Committee.  Elsewhere, POTUS picks his SCOTUS nominee, an appellate court in Texas revamps a big verdict while declining a bid to apply covenants in one lease to all leases in a

Posted in Weekly Updates

Oil & Gas Update for 3/11/2016 – PA’s High Court Revisits Robinson Township, Bankruptcy Court Deals Blow to Gathering Agreement, and the EPA Targets Emissions from Existing Oil and Gas Wells.

The national rig count dropped another 22 units since last week while the Marcellus rig count is up 2 units and the Utica rig count is down one.  Natural gas spot prices are ugly and continue to fall – particularly in the Marcellus where spot prices plunged below a dollar last Friday – while oil prices based on the Brent Crude and West Texas Intermediate benchmarks showed signs of life. In other news, the Pennsylvania Supreme Court revisits its infamous plurality decision in Robinson Township regarding the proper evaluation of claims under the “Environmental Rights” amendment to the Pennsylvania constitution while a bankruptcy judge sends shockwaves through the midstream industry with a ruling that E&P debtors in bankruptcy may “reject”

Posted in Weekly Updates

Oil & Gas Update for 3/4/2016 – Industry Concerns Swell in Anticipation of Imminent Bankruptcy Decision, Texas High Court Resolves Production Payment Dispute, and the Shocking Death of Aubrey McClendon

The national rig count dropped another 12 units this week while the combined rig counts in the Marcellus and Utica dropped by one.  Natural gas spot prices tumbled to historic lows while oil prices based on the Brent Crude and West Texas Intermediate benchmarks remained relatively steady before posting another modest increase from last week. In Appalachia, a federal magistrate judges rebuffs a request to revisit a controversial ruling on whether plaintiffs can use a statutory presumption of liability in a regulatory scheme to supplant the usual burden of proof in civil court.  Meanwhile, a federal court in Ohio rejects a claim that a subsequent agreement modified subsurface rights in the granting clause of an oil and gas lease.  Elsewhere,

Posted in Weekly Updates
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At the Well Weekly
Welcome to At the Well Weekly, a blog designed for busy folks in the oil and gas industry. If you haven’t read a thing during the week, our hope is that you can breeze through the update and be up to speed on the basics such as current rig counts, commodity prices, and case law updates on legal issues of interest in Appalachia and elsewhere.
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Cozen O’Connor Blogs