Legal

Alaska Gov. Sean Parnell said Friday the state has settled a seven-year legal battle with several oil and gas producers over Point Thomson leases. All parties have agreed to enter into a complex settlement agreement to develop the huge natural gas field.

The state of Alaska on Friday settled a seven-year legal battle with natural gas and oil producers over the Point Thomson leases, and the operators in turn agreed to develop the huge gas field.

BP plc still faces legal hurdles, but it jumped a big one after clinching a hard-fought settlement earlier this month with the Plaintiff’s Steering Committee (PSC) to resolve a “substantial majority of legitimate economic loss and medical claims” from the Macondo well blowout two years ago in the deepwater Gulf of Mexico. The PSC acts on behalf of thousands of individuals and businesses in the multi-district litigation (MDL) proceedings pending in New Orleans (MDL 2179).

BP plc still faces legal hurdles, but it jumped a big one late Friday after clinching a hard-fought settlement with the Plaintiff’s Steering Committee (PSC) to resolve a “substantial majority of legitimate economic loss and medical claims” from the Macondo well blowout two years ago in the deepwater Gulf of Mexico. The PSC acts on behalf of thousands of individuals and businesses in the multi-district litigation (MDL) proceedings pending in New Orleans (MDL 2179).

SM Energy Co. intends “to pursue any and all legal remedies” arising from Endeavour International Corp.’s decision to terminate agreements to buy a 42,000-acre leasehold and associated pipeline assets in McKean and Potter counties in northern Pennsylvania, the Denver-based company said.

The International Swaps and Derivatives Association (ISDA) and the Securities Industry and Financial Markets Association (SIFMA) have filed a legal challenge to the Commodity Futures Trading Commission’s (CFTC) controversial final rule on position limits.

The International Swaps and Derivatives Association (ISDA) and the Securities Industry and Financial Markets Association (SIFMA) have filed a legal challenge to the Commodity Futures Trading Commission’s (CFTC) controversial final rule on position limits.

A staff member of Rep. Tom Reed (R-NY), with a background in Marcellus Shale issues and energy taxes, has joined the government relations staff of the Independent Petroleum Association of America (IPAA). Before joining the IPAA, Matthew Kellogg was legislative assistant to Reed, who is co-chair of the Marcellus Shale Caucus, which was formed earlier this year, and a member of the House Ways and Means Committee. “Matt’s legislative background in energy policy, particularly as the head staffer of the Marcellus Shale Caucus, will provide a unique perspective on the industry’s public policy challenges,” said IPAA President Barry Russell. Prior to his stint in Congress, Kellogg worked at the New York State Assembly Minority Counsel’s Office in Albany, where he researched legislation and agency regulations regarding the state’s moratorium on horizontal drilling and hydraulic fracturing. At the IPAA, Kellogg primarily will be responsible for the legislative and regulatory issues surrounding Marcellus Shale development. He will also serve as a legal adviser on environment and tax policy.

A couple from Susquehanna County, PA, at the center of a controversial mineral rights case wants the state’s Supreme Court to throw out a lower court’s ruling and end the anxiety shared by energy companies and landowners alike over uncertain ownership rights in the Marcellus Shale.