Natural Gas Marketer Settles Royalty Fraud with Department of Justice

A recent settlement serves as a reminder that companies in the energy sector that do not directly do business with government agencies can still be subject to federal procurement enforcement laws with severe consequences. On May 1, 2019, the Department of Justice announced that it settled False Claims Act allegations with B. Charles Rogers Gas Ltd. (“BCR”), a natural gas marketer operating in the San Juan Basin area of New Mexico and Colorado, and three individuals who were BCR’s principals for $4.375 Million. Even though BCR did not have any government contracts, while operating as a gas...

The Evolving Market for Acreage Dedications

One of the more interesting developments in the oil and gas A&D market over the past couple of years has been the expanding variety of transactions between upstream and midstream companies involving acreage dedications. Acreage dedications are commitments from upstream operators or exploration and production companies in which all production from a given area is exclusively committed to a midstream company for the provision of midstream services or the midstream company’s purchase of such production. Acreage dedications are one of the tools midstream companies secure a customer base and a...

The Crypto Paradox: Code is Law and Consensus Rules

As the world contemplates the future of cryptocurrencies and smart contracts – including whether and how to invest in them, to transact using them, and to regulate them – it will be important to recognize the significant implications of two core principles of most cryptocurrencies: Code is Law. Every digital asset is governed by code. The security, usefulness, availability, transferability, and general malleability of any digital asset are all determined through the code by which it is created and stored. In this way, code is law, and the rule of law controls the asset. Consensus Rules. At...
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FERC Issues Transmission Notices of Inquiry Focused on Return on Equity and Transmission Incentives

On Thursday, March 21, 2019, the Federal Energy Regulatory Commission (“FERC” or “Commission”) issued two Notices of Inquiry (“NOIs”). One NOI focuses on FERC’s approach to determining the Return on Equity (“ROE”) for FERC jurisdictional electric transmission and cost-based wholesale power rates (“ROE Inquiry”) [ b ], [1] and the second NOI focuses on the Commission’s transmission incentives policies (“Incentives Inquiry”) [ https://ferc.gov/whats-new/comm-meet/2019/032119/E-1pdf ]. [2] The NOIs are referred to collectively in this write-up as the “Transmission NOIs.” Interestingly, we wanted...
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IGSP – the new kid on the block, writes Bracewell

MENA’s lightening speed renewables revolution must lead to generation-storage hybrid evolution The regional pipeline of renewable deals is getting bolder and achieving unprecedented scales: in 2019 alone Abu Dhabi is planning to roll outs its 2GW of PV solar IPP, Dubai its DEWA V 900MW PV solar IPP, Qatar its phased 900MW PV solar IPP and Saudi Arabia its second round of renewables totaling in excess of 1.5GW (spread across 7 projects), just to name a few. Without factoring some of the incredible regional ambitions, notably in Saudi Arabia and its planned 200GW solar park, the effective...

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