Another recent bankruptcy court ruling may bode ill for producers and royalty owners in Texas in light of the collapse of oil prices and increased risks of bankruptcy of producers and oil purchasers. In Re: First River Energy, LLC, 2019 WL 1103294(US Bankr. W.D. Tex., March 7, 2019), also highlights…
What a month. We are all under the illusion – especially in the West – that we have some control over our lives. COVID-19 has reminded us to the contrary. It is humbling. We can’t see into the future, but what we can see does not look good. We are…
As evidenced by the fight between Williams MLP Operating and EXCO Operating over EXCO’s flaring of Eagle Ford wells on the Briscoe Ranch, now pending on appeal in the 345th District Court of Travis County, flaring continues to be an issue in Texas. I thought a little history might enlighten…
From POLITICO: OIL IN THE TIME OF PANDEMIC: The global oil market is in an unprecedented situation, one that will hasten companies falling out of the sector, IHS Markit vice chairman and long-time energy industry doyen Daniel Yergin said Thursday. Yergin, in D.C. for an Energy Department board meeting, would…
To better understand the recent news about the precipitous drop in crude prices, it is helpful to review the global picture of world oil production and consumption. (click on images to enlarge.) In 2018, the US produced 18% of total world oil production, the most of any country. If Saudi…
The post below is from my partner Nicholas Miller. Nicholas has developed a specialty helping mineral owners evaluate offers to purchase their minerals and advising them through the sale process. John and I often receive questions from clients and interested parties about selling mineral assets. John previously wrote about…
I attended the Symposium of the Texas Journal of Oil, Gas and Energy Law at UT last week. One of the speakers was Giji M. John, Partner at Orrik, Houston, on renewable energy. Here are some takeaways. (click on images to enlarge.) Renewable energy’s contribution to US energy consumption in…
I highly recommend a podcast sponsored by Texas Monthly, Boomtown. It’s a series about the history of the Permian Basin and the people who live and work there in the recent boom. Its host is Christian Wallace, who grew up in Andrews. You’ll get to meet his grandmother, who still…
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The oil and gas industry is at the beginning of a significant downturn. Oil and gas prices are down, supply is up, demand is flat. Another in the never-ending cycle of a boom-and-bust industry, now exacerbated by appearance of a potential coronavirus world epidemic and a sharp reduction in demand…