When oil executives turn in for the night, despite daily efforts to cross T’s and dot I’s, they know the road ahead is paved with legal risk. With the advent of innovative horizontal drilling and hydraulic fracturing technologies, exploration and production companies are actively engaged in a hot pursuit for oil from shale plays in an environment fraught with legal and regulatory uncertainty.
The oil and gas boom may be relatively new to Wyoming, but energy most definitely is not. Just as Texas dominates America’s oil production, Wyoming is No. 2 in the country for total energy production, accounting for roughly 40 percent of total U.S. coal production in 2012 and further ranking as America’s leading producer of uranium for nuclear power. In fact, the Wyoming State Geological Survey (WSGS) estimates that if Wyoming were to cease production of coal, natural gas and uranium, much of the country would go dark within a couple of months.
Christopher Melillo | Kaye/Bassman International
As Cuba is no longer focusing on offshore development and with many operators, especially US firms, foregoing any possibilities of keeping the offshore talent close to home in the Caribbean with development opportunities due to the embargo, this lack of needs does not alleviate them from a brutal war for talent as there is an overall increase continuing to grow in offshore development. This also spreads the talent needs geographically, without very much concentration in one area as there are very few regions that are decreasing output or exploration.
Terrence M. Fay | Thompson Hine
More crude oil was spilled from rail cars last year than in the nearly four decades since the federal government began collecting data on such spills in 1975. According to data compiled by the Pipeline and Hazardous Materials Safety Administration, more than 1.15 million gallons of crude oil was spilled from rail cars in 2013. By comparison, from 1975 to 2012, 800,000 gallons of crude oil was spilled from rail cars.
Deborah Byers | Ernst & Young LLP
There were no real surprises in the Round Zero reveal by Mexico’s Ministry of Energy (SENER), announced on August 13. As expected, SENER granted Pemex the majority of its requested oil and gas producing properties and reserves, leaving the national oil firm with about 83% of the country’s proven and probable reserves.
The timing of the announcement, however, sends a very clear message to companies interested in future rounds of bidding. Now that Mexico’s long-anticipated energy reform is law, the Government is moving as quickly as possible to bring in foreign investment and begin reversing a decade-long decline in oil production.