Three bills pending in the California legislature have the potential to significantly impact oil and gas operations in the State. SB 1281 would impose water use limitations and reporting requirements on production operations. Two additional bills, SB 1319 and AB 2678, address oil spill response and oversight, and rail transportation. If passed, these bills would impose new restrictions on California oil and gas operations.
Dennis M. Toft, Esq. | Wolff & Samson, P.C.
As more oil and gas deposits are located and are able to be extracted the need to transport these finds to refineries or end users continues to grow. This is leading to an increase demand for new natural gas and oil pipelines throughout the country. Pipeline projects create concerns on several levels—from the impact of the construction, to the safety of the operation to questions about whether pipeline availability will only generate a need for further fracking (which of course is controversial in its own right.). Opponents of pipelines vociferously raise all these concerns, often delaying or derailing projects before they get started. Pipeline projects proponents whether oil or natural gas, need to understand and address these issues and the regulatory arena in which they will be raised in order to have the best chance of succeeding.
Roger Soape | American Association of Professional Landmen
September 21 marks the anniversary of the date oil was first discovered in Louisiana. The year was 1901 and the discovery was made among rice fields in the community of Evangeline near Jennings. Clearly, it was a moment that would change the state forever.
Though Louisiana was first explored in the late 1860s, it would take decades to unearth that stream of black gold. Natural gas production soon followed, with the first pipeline laid in 1908. Throughout the decades, oil and natural gas production steadily picked up, with oil production peaking in 1969 at nearly 729 million barrels.
Lorraine L. Walker | BDO
It was the biggest deal of 2012: Chinese state-owned firm CNOOC Limited’s takeover of Calgary oil and gas producer Nexen Inc. Although there were a total of 260 deals closed over the course of the year, it was CNOOC Limited’s CDN$14.95 billion transaction and another megadeal — PETRONAS’ CDN$5.5 billion acquisition of Progress Energy — that helped lift 2012 transaction values to approximately CDN$49.5 billion.