The United States Court of Appeals for the District of Columbia Circuit’s August 30th opinion in petro-star-dc-circuit-taps-quality-bank-case, Case No. 15-1009, August 30, 2016 (D.C. Cir.) will reopen the Federal Energy Regulatory Commission’s (FERC) consideration of the Quality Bank associated with the Trans Alaska Pipeline System (TAPS). The crude oil put into TAPS is of differing quality, some of higher quality, some of lower quality. The Quality Bank compensates companies inputting higher quality crude so that companies inputting lower quality crude do not receive a windfall. The Quality Bank compensates companies by assigning each company’s crude oil a value based on the quality of its components or “cuts.” The Petro Star case involved calculating the formula for the Resid cut. FERC…
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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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- Oil and Gas Update for Week Ending 7/28/2017 – PA Senate Floats Severance Tax, Permit Reforms, as Part of Ongoing PA Budget Negotiations.
- Oil and Gas Update for Week Ending 7/21/2017 – PA Supremes on the Environmental Rights Amendment, Third Circuit on “Buyers for Value” in Bankruptcy Claim Proceedings, and ND Supremes on Pore Space Ownership.
- Oil and Gas Update for Week Ending 6/16/2017 – PAPUC Issues Annual Report on Natural Gas Impact Fees.
- Oil and Gas Update for Week Ending 6/9/2017 – WV Supremes Endorse Net-Back Method for Calculating Royalties and Post-Production Costs; TX Supremes Confirm County-Wide Mineral Grant.
- Oil and Gas Update for Week Ending 5/26/2017 – PA Production Up, Drilling Down; TX Surface Owner’s Ability to Authorize Horizontal Drilling Through Severed Mineral Estate; Fifth Circuit Interprets Risk Penalty Provisions in LA Forced Pooling Statue.
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