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Inflation Reduction Act
MLP Qualifying Income "“ Treasury and IRS Issue Proposed Regulations
On May 5, 2015, the Department of the Treasury and the Internal Revenue Service (IRS) issued proposed regulations that provide much-anticipated guidance on the scope of qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code (Code) for master limited...
Reports Connecting Seismic Activity to the Injection of Produced Water
In recent days, the Oklahoma Geological Survey (OGS), Southern Methodist University (SMU) in Dallas, and the U.S. Geological Survey (USGS) have each indicated that they are increasingly convinced that there is a connection between the underground injection of produced water...
BLM Releases Final Rule for Hydraulic Fracturing on Federal Lands; Industry Immediately Files Suit
Brief Overview On March 20, 2015, three years after its initial proposal, the Department of Interior's Bureau of Land Management (BLM) finalized new regulations applicable to hydraulic fracturing activities on federal and Indian lands. BLM previously released a draft proposed...
Year Long Pause Lifted on MLP Qualifying Income Private Letter Rulings - Proposed Regulations to be Issued
Following a year long pause, the IRS announced Friday that it has resumed its review of pending private letter ruling (PLR) requests and is accepting new PLR requests concerning MLP qualifying income under Section 7704(d)(1)(E) of the Internal Revenue Code...
Africa Energy Update
The latest news on legal and regulatory developments in Africa's energy sector with perspectives from our offices in New York, Washington and London. Our second Africa energy update focuses on West Africa, home to major oil and gas reserves, power...
Nigeria: Local Content Update for the Oil & Gas Industry
As we reported earlier last year, the Nigerian Oil and Gas Industry Content Development Act 2010 (the "Local Content Act") was enacted to enhance local content in the oil and gas industry and its central aims of developing indigenous skills...
Nigeria: what consents are now required in upstream M&A transactions?
The recent Moni Pulo decision of the Nigerian High Court [1] has changed the settled understanding of when Ministerial consent is required in Nigerian upstream M&A deals. This article considers the consequences of that court decision, the effects seen in...
Gabon 2014 update: The Gabonese farm-out market "“ ripe for the picking
The Gabonese oil and gas industry shifted into "full steam ahead" mode in 2014. Confronted with over a decade of falling oil production, Gabon has decided to actively engage with the industry that still accounts for 80-90% of its total...
The Bureau of Economic Analysis Reporting Requirements for Foreign Direct Investment: Still Time for Timely Filing
In September of 2014, new foreign investment reporting requirements from the Department of Commerce’s Bureau of Economic Analysis (BEA) became effective. The new regulations require the BEA to collect data on the acquisition or establishment of U.S. business enterprises by...
Around the Corner: How Drones Are Changing the Energy Industry
Drones "“ or, in Federal Aviation Administration parlance, Unmanned Aircraft Systems ("UAS") are proliferating everywhere. In the past few weeks an unmanned drone landed on the White House grounds and the federal government had to issue warnings not to fly...
Recent Developments in Regulation of Oil and Gas NORM
Federal and state regulators are considering new rules applicable to naturally occurring radioactive material (NORM) and technologically-enhanced NORM (TENORM) in oil and gas waste. We discuss some of the most recent and expected developments below. Pennsylvania PADEP TENORM Study On...
White House: Oil & Gas Industry Must Cut Methane Emissions By 40-45%
On January 14, 2015, the White House announced that it would for the first time directly regulate methane emissions from the oil and gas industry. By choosing to regulate methane directly rather than regulating VOCs, EPA may be seeking to...
Prove It Up: Texas Railroad Commission Revises Rule for Pipeline Common Carrier Permits
The Texas Railroad Commission has recently promulgated certain rule amendments designed to clarify how much information a pipeline operator must file to be classified, for TRRC regulation purposes, as a common carrier or a private pipeline. The revisions require pipeline...
FERC Policy Proposal "“ More Modernization Trackers?
At its November 20, 2014 meeting, FERC issued a policy proposal to facilitate the recovery of the costs associated with improving pipeline safety and reducing emissions. Recognizing the fact that several pipeline safety and environmental initiatives will be facing the...
Election 2014: Impact of a New Congress on Environmental and Energy Policy
Energy and environmental concerns were major issues in a number of campaigns leading up to the 2014 midterm elections. In this interview, founding PRG partner Scott Segal discusses how Congress and agencies are expected to deal with a wide range...