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Oil and Gas Lawyer Blog

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Colors of Hydrogen

Maybe you’ve heard of “green hydrogen.” There’s been a lot of press lately about projects to produce hydrogen to use as an alternative fuel, and the Inflation Adjustment Act provides tax credits for production of “green hydrogen.” But did you know that there are other hydrogen “colors”? An excellent article…

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Carbon Capture and Underground Storage

Since passage by Congress of the Inflation Reduction Act (IRA) in 2022, significant activities and developments have taken place in Texas regarding carbon capture and underground storage (CCUS) projects. The IRA provides tax credits for injection and underground storage of carbon dioxide. As a result, major companies have begun developing…

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A New Ad Valorem Tax Exemption for Minerals Owned by Charities

Governor Abbot has signed House Bill 456, passed by the Legislature, granting certain charities an exemption from ad valorem taxes on their oil and gas royalties, effective January 1, 2024. The bill amends Tax Code Section 11.18(a), which provides ad valorem tax exemptions for charitable organizations, including churches and educational…

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