Energy

  • September 15, 2014

    Faulty Wells Leak Gas To Marcellus, Barnett Water, Study Says

    Fracking in the Marcellus and Barnett shales isn’t leading to groundwater contamination, but improperly drilled wells are allowing fugitive shale gas to leak into groundwater, according to a study released Monday.

  • September 15, 2014

    ConocoPhillips Urges Court To Throw Out Exec Pay Suit

    ConocoPhillips Co. on Friday asked a Delaware federal court to accept a magistrate judge’s recommendation to throw out a derivative suit challenging the company’s executive pay plan that purportedly breaches tax and securities rules, saying the plaintiffs had failed to specifically allege a misstatement or omission in a proxy statement.

  • September 15, 2014

    Deals Rumor Mill: PTT, Orange SA, Hellman & Friedman

    Thai oil and gas explorer PTT Exploration and Production Pcl is teaming up with Saudi Aramco to propose the construction of a $22 billion refinery and petrochemical complex in Vietnam, while French telecom Orange SA is on the verge of acquiring Spanish rival Jazztel in a deal that could be worth up to $3.89 billion.

  • September 15, 2014

    EPA Greenlights $500M Texas Petroleum Plant

    The U.S. Environmental Protection Agency announced Monday that it has given the green light to CCI Corpus Christi LLC to start construction on a $500 million petroleum processing facility near Corpus Christi, Texas.

  • September 15, 2014

    NJ Senate Panel Moves To Block Emissions Pact Withdrawal

    A New Jersey Senate committee on Monday struck back against Gov. Chris Christie's move to repeal rules associated with the state's former participation in a regional carbon emissions cap-and-trade pact, passing a resolution to override the administration.

  • September 15, 2014

    Weatherford Investors Again Denied Internal Tax Audit Docs

    A New York federal judge on Friday denied a second motion by Weatherford International Ltd. shareholders to force the company to search for more internal tax investigation documents because the search would be unlikely to result in a more robust record.

  • September 15, 2014

    GE Gets Pushback On $25M Suit Over Failed Oil Field JV

    Turbine Generation Services LLC and Michel B. Moreno, who controls the company, urged a Louisiana federal judge on Friday to keep alive GE Oil & Gas Inc.'s suit against them over a defaulted $25 million note on a failed energy joint venture, saying their counterclaims should be heard.

  • September 15, 2014

    Dealmakers Q&A: Farella Braun's Philip Peters

    The main driver of recent deal activity is a host of strategic acquisitions as blue-chip companies double down on or otherwise complement their strategies. This consolidation forces other companies to reevaluate their own strategies and possibly undertake deals of their own, says Philip Peters of Farella Braun & Martel LLP.

  • September 15, 2014

    TransCanada Urges SD To Renew Keystone XL Permit

    TransCanada Corp. on Monday asked South Dakota utility regulators to recertify its permit for the Keystone XL pipeline, which expired in June after being originally approved four years ago, a move that pipeline opponents have already vowed to fight.

  • September 15, 2014

    PE-Backed Vantage Energy Sets Terms For $635M IPO

    Private equity-backed oil and gas company Vantage Energy Inc. set terms Monday for a $635 million initial public offering, officially launching its IPO with a price range between $24 and $27 a share as the company seeks to grow its drilling activities and holdings in the Marcellus and Barnett shales.

  • September 15, 2014

    Judge Keeps Alive BP's Opposition To Deepwater Damages

    The Louisiana federal judge overseeing multidistrict litigation stemming from the BP PLC Deepwater Horizon oil spill denied a request Monday from the plaintiffs' steering committee to throw out BP’s opposition to recovering damages due to the subsequent drilling moratorium, saying the court has already denied such a request.

  • September 15, 2014

    Duke Energy Sinks $500M Into Solar Expansion

    Duke Energy Corp. said Monday that it will invest $500 million in solar power development in North Carolina through eight projects — which will produce nearly 280 megawatts of electricity — the utility giant will either operate or buy power from.

  • September 15, 2014

    Vinson & Elkins, Simpson Guide Eagle Energy's $195M Buy

    Eagle Energy Exploration LLC is buying roughly 20,000 acres of oil and gas assets in Oklahoma from a unit of Fairway Resources Partners for $195 million, Tulsa, Oklahoma-based Eagle Energy announced on Monday.

  • September 15, 2014

    Sinopec Reaps $17.5B From Sale Of Marketing Unit Stake

    China Petroleum & Chemical Corp., better known as Sinopec, said Sunday that it’s sold a 30 percent stake in its sales and marketing arm to 25 foreign and domestic investors for 107 billion yuan ($17.5 billion) as the state-owned energy giant looks to inject private capital into its business.

  • September 12, 2014

    BP’s Bid For $750M Transocean Coverage Shaking Up CGLs

    BP PLC and Transocean Ltd. are set to head to the Texas Supreme Court on Tuesday to argue the limits of a $750 million insurance policy covering the Deepwater Horizon oil spill in a case that has already prompted commercial general liability insurers to take steps to avoid being on the hook for unintended payouts to additional insured parties.

  • September 12, 2014

    Shell Beats Appeal Of Calif. Water Pollution Case

    A California appeals court on Friday upheld a jury’s finding and other orders that absolved Shell Oil Co. of liability for cleanup costs to the city of Redlands, California — which claimed the company’s pesticide ingredients contaminated the city’s water supply — finding the jury verdict was justified.

  • September 12, 2014

    Courts Slamming Brakes On State Power Plant Plans

    The Third Circuit's Thursday ruling that a New Jersey subsidy program for new power plant construction usurps Federal Energy Regulatory Commission jurisdiction over electricity markets is the latest decision to suggest that states may have to scale back their own ambitions in a regionalized U.S. power system, experts say.

  • September 12, 2014

    Deutsche, Goldman Win $37M In Fees For CVR Defense

    A New York judge has awarded Goldman Sachs & Co. and Deutsche Bank Securities Inc. $37 million in fees for helping defend Texas-based oil refiner CVR Corp. from a $2.6 billion takeover by noted raider Carl Icahn, saying the banks' enlistment contract with CVR was crystal clear — even though the defense failed.

  • September 12, 2014

    ACA Allows For Black Lung Benefits, 11th Circ. Rules

    The Eleventh Circuit ruled Friday that survivors of coal miners who had been denied survivor's benefits under the Black Lung Benefits Act could reapply and be awarded benefits thanks to amendments in the Affordable Care Act.

  • September 12, 2014

    Mixed Partnerships Can't Get UK Investment Tax Allowance

    A U.K. tax tribunal on Thursday blocked an oil drilling consultant's limited liability partnership from fully deducting its business expenditures on a private airplane through an Annual Investment Allowance because the partnership, made up of an individual and unlimited company, isn't a qualifying person. 

Expert Analysis

  • A Look At The New US And EU Sanctions On Russia

    Triplett Mackintosh

    While the latest U.S. and EU sanctions do not cut off entire sectors of the Russian economy, they come close, say attorneys with Holland & Hart LLP.

  • 8 Trends Influencing Energy Transactions

    Sean T. Wheeler

    More and more midstream companies are in need of capital to take advantage of significant infrastructure investment opportunities, which should lead to more public and private merger and acquisition activity in the midstream space along with additional initial public offerings, says Sean Wheeler of Latham & Watkins LLP.

  • BP Damages Will Be Punishing, Though Not Punitive

    B.D. Daniel

    After the Phase One rulings in the Deepwater Horizon oil spill litigation, any oil spill plaintiff still seeking punitive damages from BP PLC will face a gauntlet of legal obstacles, which is good reason to doubt BP will ever pay punitive damages in personal injury cases — a small consolation given BP's potential liability for civil penalties, says B.D. Daniel of Beck Redden LLP.

  • OPINION: Pro Bono May Help Diversity Recruiting Efforts

    David A. Lash

    A recent Law360 article about the perennial BigLaw concern over how to recruit and retain female and ethnically diverse attorneys addressed a new approach being taken by some law firms — going beyond traditional mentoring programs by creating a sponsorship relationship. Pro bono can also play a part, say David Lash and Merle Vaughn of the Association of Pro Bono Counsel.

  • 'After-Acquired Title' Doctrine Case Should Draw Attention

    Anthony R. Holtzman

    Oil and gas producers should have an interest in the Pennsylvania Supreme Court's eventual ruling in Shedden v. Anadarko E&P Company LP as it will consider payments under the “after-acquired title” doctrine. Industry may want to participate in an amicus curiae given the policies the doctrine serves, say Anthony Holtzman and George Bibikos of K&L Gates LLP.

  • Esquenazi In Korea: Identifying Instrumentalities Abroad

    Samantha Dreilinger

    Efforts to apply the Esquenazi definition in Korea — a country where the government plays a significant yet often obscured role in several important industries — reveal that the definition leaves important questions unresolved and provides little comfort to companies trying to determine whether a potential business partner may be subject to the Foreign Corrupt Practices Act, say attorneys with Cadwalader Wickersham & Taft LLP and Kim & Chang.

  • How Research Efficiency Impacts Law Firm Profitability

    David Houlihan

    For a law firm, excess time dedicated to legal research generates waste, either in the form of artificially reduced billable hours or, particularly in flat or contingency fee projects, as overhead eroding the profitability of legal work. By measuring five factors, firms will begin to understand their own opportunities for improving profits, says David Houlihan of Blue Hill Research Inc.

  • Be Wary Of Inadvertent Waivers In Contamination Claims

    Richard F. Ricci

    A New Jersey appellate court's ruling in Favorito v. Puritan Oil Company Inc. provides valuable lessons in how to — and how not to — prosecute claims for damages based on contamination migrating from one property to another, say Richard Ricci and Nikki Adame Winningham of Lowenstein Sandler LLP.

  • In A Dangerous World, Energy Cos. Should Look To SAFETY

    Scott A. Freling

    Critical U.S. energy infrastructure is a natural fit for protection under the Support Anti-terrorism by Fostering Effective Technologies Act, and operators should take a cue from the transportation, real estate and entertainment industries and examine whether the law might offer an additional layer of financial protection, says Scott Freling of Covington & Burling LLP.

  • Texas High Court May Have Remade Utility Ratemaking

    Dane McKaughan

    Two takeaways from the Texas Supreme Court's unanimous opinion in Texas Coast Utilities Coalition v. Railroad Commission of Texas are the commission's broad new authority to adopt formula rates and the potential for the court's analysis to apply to the Public Utility Commission's adoption of formula rates for electric utilities, says Dane McKaughan of Greenberg Traurig LLP.