future-focused

Podcast: There’s a Reason They Call it “Master”: Why MSAs are Crucial to the Entire Business

less than a minute

In this episode of “Energy Law This Week,” hosts Matt Jones and April L. Rolen-Ogden discuss significant legal updates in the energy sector, including Colorado’s pioneering regulations on recycling frac water and a recent court decision involving the Sierra Club and the Department of Energy. John Almy then joins to delve into the importance of Master Service Agreements (MSAs) in the energy industry, exploring their role in managing contracts, risk allocation, and insurance considerations.

The conversation also highlights the need to update MSAs to capture insurance protection and to maintain consistency of indemnities. John and the crew also offer practical tips for effective contract management.

Listen to the full episode on the Oil & Gas Network here.

Podcast: There’s a Reason They Call it “Master”: Why MSAs are Crucial to the Entire Business

less than a minute

Featured Image

 

In this episode of “Energy Law This Week,” hosts Matt Jones and April L. Rolen-Ogden discuss significant legal updates in the energy sector, including Colorado’s pioneering regulations on recycling frac water and a recent court decision involving the Sierra Club and the Department of Energy. John Almy then joins to delve into the importance of Master Service Agreements (MSAs) in the energy industry, exploring their role in managing contracts, risk allocation, and insurance considerations.

The conversation also highlights the need to update MSAs to capture insurance protection and to maintain consistency of indemnities. John and the crew also offer practical tips for effective contract management.

Listen to the full episode on the Oil & Gas Network here.

 

New USGS Report Highlights Major Gas Potential in Louisiana and Texas, Gulf Coast Region

2 minute read

A new U.S. Geological Survey report has revealed significant untapped natural gas and oil resources across the Gulf Coast region, estimating 35.8 trillion cubic feet of natural gas and 28 million barrels of oil within the Hosston and Travis Peak Formations. The report states the Travis Peak Formation in Texas and southern Arkansas is time correlative to the Hosston Formation in Louisiana and eastward, meaning the Hosston formation is found at a similar geologic horizon as the Travis Peak formation.

The report’s estimated gas volume is equivalent to the amount of gas the United States consumes in 14 months at the current rate of consumption. Much of the estimated gas is “tight gas” – natural gas trapped in low permeability rock far below the surface.

While the study area encompasses a broad region— from the Mexican border along the Gulf to most of Florida — Louisiana and Texas lie at the heart of the most resource-rich section, known as the Hosston-Travis Peak Shelf Continuous Gas Assessment Unit.1 Although actual development will depend on several factors, this report reinforces the Gulf Coast’s key position in the world energy landscape.

If you have questions about how this assessment may affect your operations, leasing strategy, or regulatory obligations, please contact Liskow attorneys James Lapeze and Cristian Soler and visit Liskow’s website.

1 https://www.usgs.gov/news/national-news-release/usgs-releases-assessment-undiscovered-oil-and-gas-resources-hosston-and.

New USGS Report Highlights Major Gas Potential in Louisiana and Texas, Gulf Coast Region

2 minute read

Featured Image

 

A new U.S. Geological Survey report has revealed significant untapped natural gas and oil resources across the Gulf Coast region, estimating 35.8 trillion cubic feet of natural gas and 28 million barrels of oil within the Hosston and Travis Peak Formations. The report states the Travis Peak Formation in Texas and southern Arkansas is time correlative to the Hosston Formation in Louisiana and eastward, meaning the Hosston formation is found at a similar geologic horizon as the Travis Peak formation.

The report’s estimated gas volume is equivalent to the amount of gas the United States consumes in 14 months at the current rate of consumption. Much of the estimated gas is “tight gas” – natural gas trapped in low permeability rock far below the surface.

While the study area encompasses a broad region— from the Mexican border along the Gulf to most of Florida — Louisiana and Texas lie at the heart of the most resource-rich section, known as the Hosston-Travis Peak Shelf Continuous Gas Assessment Unit.1 Although actual development will depend on several factors, this report reinforces the Gulf Coast’s key position in the world energy landscape.

If you have questions about how this assessment may affect your operations, leasing strategy, or regulatory obligations, please contact Liskow attorneys James Lapeze and Cristian Soler and visit Liskow’s website.

1 https://www.usgs.gov/news/national-news-release/usgs-releases-assessment-undiscovered-oil-and-gas-resources-hosston-and.

 

House Tax Bill Addresses Transfer Tax Exemptions

less than a minute

The tax writing committee of the House of Representatives has proposed a bill which would increase permanently the unified estate and gift tax lifetime exemption equivalent and the lifetime exemption from the tax on generation skipping transfers to $15 Million, indexed for inflation with a base year of 2025.

The exemption amounts would apply to decedents dying and gifts made during the calendar year 2026 and would increase with inflation thereafter.

For more information on how this proposal may impact your transfer tax planning, contact Liskow attorneys John Rouchell, Leon Rittenberg, Julie Chauvin, Joe Wilson, Bob Angelico, and Caroline Lafourcade. Visit our Tax Practice Page for further insights and resources.

House Tax Bill Addresses Transfer Tax Exemptions

less than a minute

The tax writing committee of the House of Representatives has proposed a bill which would increase permanently the unified estate and gift tax lifetime exemption equivalent and the lifetime exemption from the tax on generation skipping transfers to $15 Million, indexed for inflation with a base year of 2025.

The exemption amounts would apply to decedents dying and gifts made during the calendar year 2026 and would increase with inflation thereafter.

For more information on how this proposal may impact your transfer tax planning, contact Liskow attorneys John Rouchell, Leon Rittenberg, Julie Chauvin, Joe Wilson, Bob Angelico, and Caroline Lafourcade. Visit our Tax Practice Page for further insights and resources.

 

House Tax Bill Draft Calls for Raising $30,000 SALT Deduction Limit

less than a minute

It has been reported that the House tax committee’s draft bill to renew President Donald Trump’s tax cuts proposes to increase the state and local tax deduction to $30,000 for couples, but limits the write-off to households earning $400,000 or less.

It was further reported that the bill provides that individuals earning up to $200,000 could claim $15,000 in SALT deductions under the proposal.

While raising the $10,000 cap for state and local tax deduction to $30,000 falls short of what many lawmakers in high-tax states have advocated, negotiations regarding the details of the package are likely ongoing. It was also reported that House Speaker Mike Johnson told reporters today that no final SALT limit had been set yet. The House Ways and Means Committee is slated to debate the legislation Tuesday.

SALT cap increases benefit higher earners who are more likely to itemize deductions. Currently, if you itemize deductions on your federal income tax return, instead of taking the standard deduction, you cannot deduct more than $10,000 in levies paid to state and local governments, including income and property taxes. 

Contact Liskow attorneys Bob Angelico, Caroline Lafourcade, and Kevin Naccari, Jr. for additional information or questions regarding how this proposed SALT deduction change might impact your tax planning. Visit our Tax Practice Page for more insights.

House Tax Bill Draft Calls for Raising $30,000 SALT Deduction Limit

less than a minute

It has been reported that the House tax committee’s draft bill to renew President Donald Trump’s tax cuts proposes to increase the state and local tax deduction to $30,000 for couples, but limits the write-off to households earning $400,000 or less.

It was further reported that the bill provides that individuals earning up to $200,000 could claim $15,000 in SALT deductions under the proposal.

While raising the $10,000 cap for state and local tax deduction to $30,000 falls short of what many lawmakers in high-tax states have advocated, negotiations regarding the details of the package are likely ongoing. It was also reported that House Speaker Mike Johnson told reporters today that no final SALT limit had been set yet. The House Ways and Means Committee is slated to debate the legislation Tuesday.

SALT cap increases benefit higher earners who are more likely to itemize deductions. Currently, if you itemize deductions on your federal income tax return, instead of taking the standard deduction, you cannot deduct more than $10,000 in levies paid to state and local governments, including income and property taxes. 

Contact Liskow attorneys Bob Angelico, Caroline Lafourcade, and Kevin Naccari, Jr. for additional information or questions regarding how this proposed SALT deduction change might impact your tax planning. Visit our Tax Practice Page for more insights.

 

Podcast: Blowout Insurance: The Most Underused Coverage?

less than a minute

On this week’s episode of “Energy Law This Week,” hosts Matt Jones and April Rolen-Ogden cover recent cases on the duty to market, always an ongoing issue, and the newest jurisprudence highlighting the need to update master service agreements. The team then delves into the complexities of well control insurance, (sometimes called loosely called blowout insurance), exploring its importance, coverage details, and the common pitfalls that often lead to non-pursuit of legitimate claims.

The conversation highlights the nuances of these claims, the role of engineers in understanding risks and recognizing claims, and the litigation challenges that arise in the context of underground flow incidents. The hope is that through a fuller understanding of these coverages, operators and even non-ops will take appropriate advantage of coverage they have purchased.

Listen to the full episode on the Oil & Gas Network here.

Podcast: Blowout Insurance: The Most Underused Coverage?

less than a minute

On this week’s episode of “Energy Law This Week,” hosts Matt Jones and April Rolen-Ogden cover recent cases on the duty to market, always an ongoing issue, and the newest jurisprudence highlighting the need to update master service agreements. The team then delves into the complexities of well control insurance, (sometimes called loosely called blowout insurance), exploring its importance, coverage details, and the common pitfalls that often lead to non-pursuit of legitimate claims.

The conversation highlights the nuances of these claims, the role of engineers in understanding risks and recognizing claims, and the litigation challenges that arise in the context of underground flow incidents. The hope is that through a fuller understanding of these coverages, operators and even non-ops will take appropriate advantage of coverage they have purchased.

Listen to the full episode on the Oil & Gas Network here.