Monthly Archives: May 2016

Oil and Gas Update for 5/20/2016 – PADEP Secretary is Out; Sabine Authorized to Get a New Deal Following Rejection of Gathering Agreement.

Things have been relatively quiet since our last report.  Natural gas spot prices dropped across the board while the rig count remained relatively flat.  The Brent Crude and West Texas Intermediate benchmarks were somewhat steady last week and they both closed around $48/bbl as of last Friday.  In other news, the Secretary of PA’s Department of Environmental Protection resigned after a controversial email, and the judge in the ongoing Sabine Bankruptcy that everyone is watching authorized the financially embattled E&P company to get a new deal in the wake of prior orders confirming the debtor’s ability to reject gas gathering agreements. Here’s your week in review: About The Author

Posted in Weekly Updates

Oil and Gas Update for 5/13/2016 – EPA’s Methane Reduction Regs Make Headlines and Draw Criticism; Alaska’s High Court Fills the Gaps in Subsurface Pore-Space Dispute, and no Lease Busting in TX for Royalty Payments that Fall Short.

The national rig count continues to slide amidst somewhat steady but continuously underwhelming oil and natural gas prices. The Brent Crude and West Texas Intermediate benchmarks closed around $48/bbl since our last report while the Henry Hub eclipsed $2. E&P companies in Appalachia and elsewhere prepare as EPA unveiled its new air quality regulations targeting new sources in the oil and gas industry, while the Alaska Supreme Court decided the interesting question of who in that state owns (and should be paid for) the pore spaces in the subsurface used to store natural gas. Finally, it wouldn’t be “At the Well Weekly” without a lease-busting case, and this week, the Lone Star State delivered.  Here’s your week in review: About

Posted in Weekly Updates

Oil and Gas Update for 5/6/2016 – Preemption Abound: Colorado Supreme Court Nixes Local Attempts to Regulate Frac Ops, Texas High Court Nixes H-Town’s Attempt to Regulate Air Quality, and Bankruptcy Judge Confirms Prior Ruling on Rejection of Gathering Agreements.

After a week “off the lease,” we are back at the well. Since our last report, oil prices based on the Brent Crude and West Texas Intermediate benchmarks closed in on $50/bbl at the end of April before dropping last week, while the Henry Hub’s romance with spot prices around $2 has as many ups and downs as a Hollywood marriage. The national rig count took another hit as did the rig count in the Marcellus despite a steady count in the Utica. In Appalachia, the Pennsylvania Governor appointed a new PUC commissioner while a federal judge in the Keystone State says a slowdown in drilling that allegedly shattered a landowner’s dreams of riches doesn’t lead to recovery. Elsewhere, the

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