News & Analysis as of

Oil & Gas Decommissioned Facilities

Holland & Knight LLP

Interior Department Announces Rule on Financial Assurance for Offshore Oil and Gas

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For a decade, the U.S. Department of the Interior has wrestled with financial assurance (or bonding) requirements for offshore oil and gas companies. Over the last 10 years, the Interior Department has released – and later...more

Bracewell LLP

DSAs: Calculating Security and the Role of Expert Determination

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Decommissioning. A word familiar to all of those who are involved in oil and gas exploration and production around the globe. It is defined in the Cambridge English Dictionary as “taking a factory or other industrial...more

Holland & Knight LLP

Interior Department Proposes Rule to Secure Decommissioning of Offshore Oil, Gas Infrastructure

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The U.S. Department of the Interior, through its Bureau of Ocean Energy Management (BOEM), published a proposed rule on June 29, 2023, to significantly modify how the agency assesses the offshore oil and gas industry's...more

Bracewell LLP

The 2023 AIEN Model Form JOA Placing ESG issues at the heart of oil and gas operations

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On 16 February 2023, the Association of International Energy Negotiators (“AIEN”, formerly the Association of International Petroleum Negotiators or AIPN) published an updated version of its model form joint operating...more

Vinson & Elkins LLP

The 2023 AIEN Model International Joint Operating Agreement

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In February 2023, the Association of International Energy Negotiators (“AIEN”) published the latest version of its Model International Joint Operating Agreement (the “2023 JOA”) and related guidance notes (the “Guidance...more

Adams and Reese LLP

What’s a “Necessary” that Creates a Maritime Lien? Fifth Circuit Tries to Keep It Simple

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In Central Boat Rentals, Inc. et al. v. M/V NOR GOLIATH, the Fifth Circuit once again considered what was a “necessary” provided to a vessel that gave rise to a maritime lien under the Commercial Instruments and Maritime...more

Lewis Roca

Intellectual Property Considerations in the Growing Renewable Energy Decommissioning Industry

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An eye towards sustainability has always been at the forefront of the renewable energy industry, but in many cases, technology was not able to catch up to the good intentions of the industry until recently....more

Lewis Roca

Federal Approaches to Renewable Energy Facility Decommissioning

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As more states continue to adopt and consider rules for renewable energy facility decommissioning, they do so against the backdrop of the existing federal financial assurance rules implemented by the Bureau of Land Management...more

Jones Day

Offshore Oil and Gas Field Decommissioning: Disputes and Other Challenges

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As offshore assets age, oil and gas companies face a wave of decommissioning obligations, with expenditures estimated to exceed US$200 billion in coming decades. Decommissioning is not simply demolition. It requires plugging...more

Vinson & Elkins LLP

BSEE Considerations In Establishing Decommissioning Liability Estimates For Offshore Facilities

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The federal Bureau of Safety and Environmental Enforcement (BSEE) directs decommissioning of facilities located in federal waters of the Outer Continental Shelf (OCS) that are used in performance of oil and gas exploration...more

Bracewell LLP

Decommissioning Oil and Gas Wells in the UK – High Court Delivers Important Judgment with Ramifications for M&A Deals and the...

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In the recent case of Apache UK Investments Limited v Esso Exploration and Production UK Limited [2021] EWHC 1283 (Comm), the English High Court has delivered an important ruling which addresses the extent to which a prior...more

Bennett Jones LLP

Real Estate Transactions and Recent Changes to Environmental Management Act and Contaminated Sites Regulation

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On February 1, 2021, amendments to the Environmental Management Act (EMA) and associated changes to the Contaminated Sites Regulation relating to the process for identifying contaminated sites came into force. A notable...more

Bennett Jones LLP

B.C. Announces Second Increment of Dormant Sites Reclamation Program Funding

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On September 18, 2020, the British Columbia government announced that the first half of a $100-million fund earmarked for cleaning up dormant wells has been disbursed. The Dormant Sites Reclamation Program is dedicated to...more

Akin Gump Strauss Hauer & Feld LLP

The Coming Decommissioning Wave in Southeast Asia: What to Expect and the Relevance of Experiences in the North Sea and U.S. Gulf...

Southeast Asia appears set to become the next key market in the decommissioning of offshore oil and gas assets. With an estimated 200 offshore fields likely to stop producing by 2030, comprising more than 1,500 platforms and...more

Morgan Lewis

NRC’s Reactor Decommissioning Financial Assurance Working Group Receives Public Comments

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The NRC’s Reactor Decommissioning Financial Assurance Working Group recently held a public meeting to receive comments on potential guidance updates before publishing its final report. Prior to the public meeting, the working...more

Akin Gump Strauss Hauer & Feld LLP

As Bankruptcy Bells Ring in the Outer Continental Shelf, BSEE May Toll for You

In 2014, we wrote about efforts by the U.S. Department of Interior’s Bureau of Safety and Environmental Enforcement (BSEE) to require less traditional parties to fund the decommissioning of idle oil and gas wells and related...more

Akin Gump Strauss Hauer & Feld LLP

New Regulator, New Rules: The OGA’s Decommissioning Costs Estimates for the UKCS

A recent report on decommissioning provides up-to-date predictions for the future costs of dismantling infrastructure in the United Kingdom Continental Shelf. It is the first financial estimate by the Oil & Gas Authority...more

Orrick, Herrington & Sutcliffe LLP

North Sea Decommissioning - The Challenges Ahead

Where are we now? It all sounds simple enough. The dual objectives of the UK government today in relation to petroleum production from the North Sea are to maximise the economic recovery from domestic reserves and, once...more

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