A Colorado voter initiative known as Proposition 112 was defeated by an estimated 56 to 44 percent margin on Election Day. If approved, the initiative would have increased minimum drilling setbacks from occupied buildings and waterways for new oil, gas, and fracking projects to 2,500 feet statewide. Current regulations specify that wells must be1,000 feet
Anti-Drilling Initiative Fails in the Centennial State Read More »
For the first time since 1973, the United States has topped Saudi Arabia and Russia as the largest global producer of crude oil. The news was announced by the Energy Information Agency (EIA) and is based on preliminary estimates from the EIA’s Short-Term Energy Outlook. American output has more than doubled over the last decade,
US World’s Largest Oil Producer Read More »
London-based BP announced that it was acquiring a portfolio of unconventional oil and gas assets from BHP for $10.5 billion. The onshore assets mark the first major acquisition by BP since the disastrous Deepwater Horizon Spill in 2010. The portfolio includes assets in the highly prized Permian-Delaware basin in West Texas along with two positions
BP to Pay $10.5 Billion for Shale Assets Read More »
A Danish-backed offshore wind farm has been awarded a contract to power 500,000 homes in Massachusetts. Called Vineyard Wind, the wind farm will be located off the southern coast of Martha’s Vineyard. Vineyard Wind, which is backed by Copenhagen Infrastructure Partners and Avangrid Renewables, bested two competitors for the contract authorized under a 2016 renewable
Vineyard Wind Selected to Create 800-Megawatt Offshore Farm Read More »
In another major water rights decision, a Montana water court affirmed that Gene Klamert had not abandoned valuable water rights on Flatwillow Creek in Petroleum County. Upstream landowners Daniel Iverson, Dan Wilks, and Farris Wilks had appealed a 2017 ruling by Water Master Ben Sudduth in Klamert’s favor. They contended that Klamert’s failure to irrigate
Montana Water Court Rules on Abandonment Read More »
In a major policy shift that benefits timberland owners, EPA administrator Scott Pruitt announced that biomass will be considered carbon neutral for the purposes of regulating emissions from sources such as power plants that burn wood. Biomass proponents hailed the announcement as long overdue. “The EPA’s declaration that forest biomass energy is carbon neutral confirms
EPA Declares Biomass Carbon Neutral Read More »
The robust US economy means plenty of transactions to report in our July newsletter, including: Colorado’s Grizzly Ranch sells for $18.5 million Red Lodge Creek Estate goes to auction on August 30 A 157-acre mountaintop in Beverly Hills lists for $1 billion BP pays $10.5 billion for BHP’s unconventional oil and gas assets A portion of
Land Report July 2018 Newsletter Read More »
A divided court gives Florida another opportunity to draw more water out of the Apalachicola-Chattahoochee-Flint basin and away from Atlanta. A decades-long legal battle that has thus far incurred more than $100 million in legal fees took an unexpected turn on June 27 when the nation’s highest court ruled that a court-appointed special master was
Supreme Court Rules 5-4 in Florida v. Georgia Read More »
In our June newsletter, the long arm of the law takes center stage: The Supreme Court hands Florida a win over Georgia in a water dispute In Texas, private land seizures have begun as the administration builds its border wall The EPA declares biomass carbon neutral, a major win for timberland owners Massachusetts selects a
Land Report June 2018 Newsletter Read More »
