The Fifth Circuit’s recent opinions in Cimarex Energy Co., et al. v. CP Well Testing, L.L.C. (2022) and Century Surety Co. v. Colgate Operating, L.L.C. (2024) provide divergent interpretations of how the Texas Oilfield...more
The Environmental Protection Agency (EPA) has formally granted Louisiana primacy to permit, site and provide oversight of carbon storage wells across the state. Permits for such wells and operations, commonly referred to as...more
On Dec. 4, the Commodity Futures Trading Commission (CFTC) proposed guidance on the listing of voluntary carbon credit (VCC) derivative contracts. This proposed guidance comes after two voluntary carbon market convenings, in...more
On November 2, 2023, the Senate Committee on Energy & Natural Resources held a hearing to “Examine Opportunities and Challenges in Deploying CCUS and DAC Technologies on Federal and Non-Federal Lands.” Opening remarks were...more
As businesses across the globe strive to fulfill carbon-neutral and net-zero promises over the coming decades, the voluntary carbon market has emerged as a necessary resource to help businesses bridge the gap to...more
10/17/2023
/ Carbon Off-Set Credits ,
Climate Change ,
Disclosure Requirements ,
EU ,
EU Directive ,
Financial Reporting ,
Greenhouse Gas Emissions ,
Greenwashing ,
Net Zero ,
New Legislation ,
New Regulations ,
Risk Factors ,
Securities and Exchange Commission (SEC) ,
Transparency
With 45Q tax credits beginning to flow following passage of the Inflation Reduction Act of 2022, states continue to pass carbon sequestration legislation in the hopes of bolstering and luring industry engaged in carbon...more
On Feb. 28, the Captured Carbon Utilization Parity Act (CCU Parity Act) was introduced by Sen. Sheldon Whitehouse, D-R.I., and Sen. Bill Cassidy, R-La. The CCU Parity Act would increase the tax credit available for carbon...more
Carbon capture, utilization and storage (CCUS) is primed to play a crucial role in setting the global energy system on a path to net zero. As a result, the United States has endeavored to incentivize investment in large-scale...more
As carbon capture and sequestration (CCS) projects proliferate across America, hints of conflict around the relatively new and large-scale business endeavors are beginning to appear. On Tuesday, Oct. 18, international...more
Indiana is the most recent state to build out a regulatory structure in anticipation of significant carbon capture, utilization and sequestration (CCUS) project deployment. Last week, Governor Eric Holcomb signed into...more
After significant lobbying by California Governor Gavin Newsom, the California Legislature passed a flurry of climate bills last week and approved nearly $54 billion in climate spending. Included in the suite of bills sent to...more
The newly passed Inflation Reduction Act of 2022 (IRA) is poised to transform the carbon capture utilization and storage (CCUS) industry through significant tax credits and benefits, including through enhancements to...more
The Fifth Circuit’s opinion in Cimarex Energy Company, et al. v. CP Well Testing, L.L.C. will require oil and gas companies throughout the oil patch to review their form contracts, preexisting agreements and liability...more
Throughout the oil patch, it has become common for parties to enter into agreements that contain Texas choice-of law-provisions, regardless of where the work is being performed or the extent of the parties’ sometimes tenuous...more
When parties contractually agree to support their mutual indemnity obligations with a "minimum" amount of insurance, their indemnity obligations may not be limited to the "minimum" amount stated in the contract. Throughout...more
As the novel coronavirus (COVID-19) outbreak spreads across the country, businesses in every industry are struggling to meet or enforce contractual obligations. Though the global deterioration of supply chains and ordinary...more
COVID-19 is disrupting contracts in our energy industries, impacting electric power and petroleum, and both product providers and service providers. Contracts will be breached. The phrase “force majeure” will be top of...more