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A perfection of poodles! Copyright @thepoodlegang There is nothing quite like a collective noun. At once descriptive and evocative, collective nouns are fun to know and employ: a murder of crows and a school of fish easily come to mind. A collective noun refers to a collection of things taken as a whole and can be broken…

  The New Mexico Oil Conservation Commission held a hearing April 17, 2018 in case No. 15957 re: Application of the NM OCD to amend rules of the Commission concerning the drilling, spacing, and operation of horizontal wells and related matters. The purpose of the proposed changes is to bring New Mexico’s Administrative Code more…

Enduro Operating, LLC v. Echo Production, Inc., 413 P.3d 866, 2018-NMSC-016 (2/15/2018) In Enduro v. Echo, the New Mexico Supreme Court reinstated its permissive commencement of operations standard, overruling the Appellate Court’s attempt to narrow the definition from “any activity.” The Supreme Court concluded that “a party may prove that it has actually commenced drilling…

Get ready! March 26, 2018 marks the opening of trade of the new gold-backed, Yuan denominated Chinese oil futures contract. The contract will be traded on the Shanghai International Energy Exchange with similar sizing as the West Texas Intermediate contract traded on the NY-MEX: 1,000 barrels/lot; tic value equal to 0.1 Yuan per barrel, or…

Please revisit our articles regarding Contango vs. Backwardation HERE, the Price of Oil and the Commitment of Traders Report HERE, and the Price of Oil and the U.S. Dollar HERE, for background to this article.   The February 2018 West Texas Intermediate (CLG18) contract finished the year strong, closing Friday, December 29, 2017 at $60.42. This…

The Texas Title Examination Standards are a-changing. To review the proposed changes click here: Final_Warranty_Standard_9817. E-mail your comments and suggestions to Bill Burford at bill.burford@kellyhart.com before October 15, 2016. The current proposed changes include the following: Standard 17.10. Title from the Sovereign If you’re acquainted with Aloysius Leopold’s Texas Land Titles, Standard 17.10 will sound…

Copyright Marcellus Shale Coalition After a seven-year de facto moratorium on natural gas development near the Delaware River, the Delaware River Basin Commission (“DRBC”) took steps last week to begin the process of enacting a formal ban on drilling for natural gas in Pennsylvania’s northeastern tip, including Wayne and Pike Counties. The Commission adopted a…

Revisions to the State Oil and Gas Lease form continue. As per the State Mineral and Energy Board’s schedule, a final vote will be taken in December. Prior to that time, the Board will review the fourth, and final, article reports and public comments at their August 9th meeting, which will cover the following lease…