Monthly Archives: June 2016

Oil and Gas Update for 6/10/2016 – Rig Counts and Spot Prices on the Rise, a WV Federal Court Rules on Indispensable Party Status of ORRI Holders, and a TX Federal Court OK’s Securities Claims against BP for Projected Flow Rate of the Deepwater Horizon Spill.

The national rig count posted another gain since our last report as did the Henry Hub spot price while the Brent Crude and West Texas Intermediate benchmarks landed at $50/bbl after a fairly volatile week. In Appalachia, the West Virginia federal court concluded that a holder of an override isn’t “indispensable” to a dispute over the underlying lease for purposes of subject matter jurisdiction.  Elsewhere, a TX federal court denied a bid to dismiss securities claims against BP for public statements about the flow rate of the Deepwater Horizon spill that allegedly defrauded the market, and a Montana court upheld a lease-busting attempt based on late pooling.  Here’s your week in review: About The Author

Posted in Weekly Updates

Oil and Gas Update for 6/3/2016 – Hillbillies Can’t Bust a Lease in PA, Frac Water Haulers on the Hook in PA for Overtime, and TX High Court Weighs in on a Trade Secret Battle and a Water Rights Dispute.

The national rig count posted its first gain in a long time – up 4 units since our last report – while the Henry Hub spot prices “soared” past $2 (“soared” being a relative term these days). The Brent Crude and West Texas Intermediate benchmarks hovered just below $50/bbl as of Friday amidst the spike in the rig count. In Appalachia, the Third Circuit held that trucking companies hauling frac water can’t dodge overtime pay while a federal judge shut down another lease busting attempt.  Elsewhere, the Texas Supreme Court issued a couple of anticipated decisions – one involving a trade secret battle and another involving a dispute over the relative rights of surface owners and owners of water rights

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