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States Pursuing Climate Litigation Rated ‘Judicial Hellholes’ by Major Legal Organization

The trial lawyers bringing climate liability lawsuits against energy producers in California and New York City may have contributed to those locations topping the list of “judicial hellholes,” according to the American Tort Reform Foundation’s (ATRF) 2018-2019 Judicial Hellhole report. ATRF’s annual report identifies the states, cities, and courts with the most “unfair and unbalanced” laws and procedures in the country. California and New York City were crowned the worst and third worst, respectively, while Florida earned the number two spot, coming amid media reports of Sher Edling LLP and EarthRights International pitching their climate lawsuits to several South Florida communities.

See our highlights from the report at EID Climate.

Hess Sees ‘Running Room’ In Gulf Of Mexico

Prolific production in the Permian Basin and large, play-opening discoveries offshore Guyana may regularly grab headlines, but companies like Hess Corp. (NYSE: HES) still see value in the U.S. Gulf of Mexico (GoM). The New York-headquartered company said Dec. 12 it plans to drill an exploration well in the GoM next year at the Esox prospect, which is located near its Tubular Bells hub. The well will be the first exploration well in the GoM drilled by Hess in some time, Barbara Lowery-Yilmaz, senior vice president of exploration, said during an investor presentation. If successful, the prospect could become another high-return tieback for the company, which brought its Stampede development online earlier this year. Lowery-Yilmaz described Esox, which sits six miles updip from the Royal Dutch Shell Plc (NYSE: RDS.A)-operated Kaikias Field, as a Miocene amplitude-supported subsalt prospect located in a shallower stratigraphic horizon than the producing zones of the Tubular Bells Field.
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Bradford County LNG Plant Yet Another Example of Unstoppable Natural Gas

Tom Shepstone Shepstone Management Company, Inc. … … If further proof were needed of unstoppable natural gas, a new Bradford County LNG Plant shows increased demand for shale gas is producing rural revitalization. A little story in the Rocket-Courier the other day … Continue reading

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Oil Market: Searching For A Balance

People like to be in control, and certainly that’s the case with a producer group like OPEC. But it takes time to turn a proverbial battleship—or crude tanker—around. What if measures intended to balance the market, once implemented, exceed their goal? What if measures are so effective that they need to be reversed, shifting to slower production after earlier running with spigots wide open?
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Inexhaustible Natural Gas: Why We’ll Never Run Out

Alexander Stevens Policy Analyst Institute for Energy Research …. … … Resources such as natural gas effectively expand with population growth because the growth stimulates innovation such that we have inexhaustible natural gas. I encourage everyone to read “The Simon … Continue reading

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Conservation Groups Sue Trump Administration Over Seismic Testing In Atlantic Ocean

Environmental groups opposed to offshore drilling sued the federal government on Dec. 11 to prevent future seismic tests for oil and gas deposits in Atlantic waters off the U.S. East Coast. Seismic testing, which uses air gun blasts, violates federal laws that protect marine mammals, endangered species and national environmental policy, according to the lawsuit filed in U.S. District Court in Charleston, South Carolina, against U.S. Secretary of Commerce Wilbur Ross and the National Marine Fisheries Service. The U.S. fisheries service in November gave initial permission to five companies to conduct seismic airgun tests beneath a vast region off the East Coast. The permits allow marine wildlife to be harassed but not killed.
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Mariner East Opponents Lose Before Previously Empathetic Judge

Kurt Knaus Spokesman Pennsylvania Energy Infrastructure Alliance … … Mariner East opponents have lost and lost miserably. Their latest maneuver before a previously empathetic PUC Administrative Law Judge Barnes just died. An administrative law judge (ALJ) with the Pennsylvania Public … Continue reading

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EOG Resources’ Legacy South Texas Assets On The Market

EOG Resources Inc. (NYSE: EOG) recently put a chunk of its South Texas position on the market as the Houston-based E&P works toward strengthening its balance sheet by paying down debt. The South Texas asset package, being marketed for sale by TenOaks Energy Advisors LLC, comprises operational control in legacy fields covering 15,621 gross (13,681 net) acres. The largely contiguous, conventional asset in the prolific Frio trend area is projected to generate roughly $8.3 million of cash flow, according to TenOaks. While speaking at a conference last month, EOG’s COO, Billy Helms, said the company has laid out a strategy to strengthen its balance sheet and, as a result, plans to pay down about $3 billion of debt through 2021. As of Sept. 30, the company’s total debt outstanding was $6.4 billion and had generated more than $1 billion of free cash flow for the year.
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Utica Summit 2019