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Oil & Gas Profits

BCLP

Further Changes to the Energy (Oil and Gas) Profits Levy Announced

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The UK government has announced further changes to the Energy (Oil and Gas) Profits Levy, increasing the rate to 38%, extending the period to which it applies to 31 March 2030 and removing the “unjustifiably generous” main...more

Gray Reed

Exxon’s Attempt to Create New Sale/Lease Tax Law Fails

Gray Reed on

The principal contention in the tax refund case of Exxon v. United States was whether certain mineral related transactions between Exxon and the countries of Qatar and Malaysia were sales or leases.  Originally Exxon treated...more

Gray Reed

Louisiana Pipeline Intrusion Case Remanded to Determine a Remedy

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The baseball season might be in jeopardy, but litigants are swinging for the fences. In Mary v. QEP Energy, the parties entered into a Pipelins Servitude Agreement over Ms. Mary’s 160 acres. One of QEP’s pipelines extended...more

Gray Reed

What is the Test For Good Faith in the Louisiana Civil Code?

Gray Reed on

In Mary et al. QEP Energy Company  the question was, given an encroachment of a pipeline onto the property of another, what is the test for determining the good faith, or not, of the party in possession?...more

Gray Reed

Court Arrives at Fair Market Value of Gas Property

Gray Reed on

In Texas, lost profits can’t be recovered as damages unless proven to a “reasonable certainty”. Question 1: What does that mean? Question 2: Does it matter if the deal is in Bulgaria? Let’s get rid of the...more

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