Tag Archives: oil and gas

ILN Today Post

LexCounsel Law Offices LexUpdate – May 24, 2016

Intellectual Property

Government approves National Intellectual Property Rights Policy: “Creative India; Innovative India” – TheGovernment of India has approved the National Intellectual Property Rights (“IPRs”) Policy which is stated will lay the future roadmap for intellectual property in India. The Policy has the following objectives:

· IPR awareness and promotion: Outreach and Promotion – To create public awareness about the economic, social and cultural benefits of IPRs among all sections of society.
· Creation of IPRs – To stimulate the generation of IPRs.

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Oil and Gas Alert: Illinois enters the fracking fray — Natural gas development is imminent

Drilling companies have begun approaching Illinois landowners in recent months about leasing their property for gas drilling. Like Pennsylvania and Ohio, Southeastern Illinois sits atop a shale formation—the New Albany—with large untapped gas reserves. Many drilling companies are purchasing leases now with the hope of using horizontal hydraulic fracturing (“fracking”) to extract natural gas at some point in the future. 

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ILN Today Post

Oil & Gas News

1. CAG vs RIL: financial audit or performance audit?
The Comptroller and Auditor General (CAG) has objected to the government’s move to narrow the scope of audit of Reliance Industries]operated KG]D6 block over alleged malpractices by the company. CAG is not inclined to conduct a routine audit while Reliance has argued that its contract with the government allows only financial audit, not a performance audit ] a stand that seems acceptable to the ministry of petroleum and natural gas. More…

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Ohio’s Dormant Minerals Act: Terminating and preserving oil and gas rights

The recent focus on Ohio in the Utica Shale play and the potential to use horizontal drilling and hydraulic fracturing, or “fracking,” to develop Ohio’s untapped oil and gas reserves has caught the attention of both landowners and oil and gas companies. However, dealing in oil and gas rights is not new to Ohio. People have been developing Ohio’s mineral resources, including coal and oil and gas, for many years. Since the late 1800s, landowners have been selling their mineral rights to the oil and gas underlying their land. As a result, the rights to those mineral interests often are held by a person other than the surface owner of the property. When a landowner tries to lease the rights to develop the oil and gas underlying his or her land, the landowner may be surprised to discover that they do not own oil, gas and other “minerals” below the surface. In some cases, those mineral rights may never have been developed, or production may have ceased long ago. Further, the landowner may not be able to identify the current owner of the mineral rights, which may have been severed from the surface rights decades earlier.

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Oil and Gas Alert: U.S. EPA issues first-ever fracking standards

On April 17, 2012 the U.S. Environmental Protection Agency (EPA) issued its long awaited rules setting air emission standards for oil and gas hydraulic fracking operations. This standard is the first significant federal regulation imposed on fracking operations. The Federal EPA had been pushed to issue the standard in a lawsuit filed by several environmental groups (WildEarth Guardians v. EPA, d.d.c., no. 09-00089). The new fracking standard is part of a larger group of New Source Performance Standards (NSPS) that will cover new and modified oil and gas production, processing, transmission, and storage. The U.S. EPA is required by the Federal Clean Air Act to establish this standard as part of the National Emission Standards for Air Pollutants (NESAPs) program. 

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Oil and Gas Alert: The shale revolution

Over the past several months, it has become increasingly clear that Ohio will soon be a significant player in the production of U.S. oil and other hydrocarbons. Lawyers from our Energy Group’s oil and gas team have been advising public utilities and the oil and gas industry for decades. Today, we are helping our clients navigate the complex issues and opportunities in this rapidly changing energy environment.

The shale revolution is just the latest development in the Ohio oil and gas industry, which dates back to the 19th century. In fact, more than 200,000 wells have been drilled.

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