Mexico Releases Energy Reform Regulations

Posted on by November 25, 2014

Mexico’s federal government has published regulations to implement energy reforms that will open its energy sector to foreign firms. President Enrique Peña Nieto said the  regulations provide the legal and institutional framework to “begin a new era of energy development.”

The regulations are a major step in the process that began last year with changes to Mexico’s constitution allowing private investment in the energy sector, and that continued in August with the enactment of the “secondary laws.”

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Anti-Fracking Proposition P Defeated

Posted on by November 5, 2014

Santa Barbara County voters rejected Proposition P, a proposed ban on hydraulic fracturing and other “high intensity” oil and gas operations. Because of its likely impact on almost all well maintenance activity, the ban would have effectively shut down most oil and gas operations in the county.

The measure was rejected by an overwhelming 60% of voters Tuesday, Nov. 4.

The initiative was backed by a group called the Santa Barbara County Water Guardians.

Energy industry experts said Proposition P would have halted at least 90% of oil and gas operations in the county within five years.

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Chevron Announces Gulf of Mexico Discovery

Posted on by October 23, 2014

Chevron Corporation (NYSE:CVX) announced on Thursday, Oct. 23, a new oil discovery at the Guadalupe prospect in the deepwater U.S. Gulf of Mexico.

The Keathley Canyon Block 10 Well No. 1 encountered significant oil pay in the Lower Tertiary Wilcox Sands. The well, located approximately 180 miles off the Louisiana coast in 3,992 feet of water, was drilled to a depth of 30,173 feet.

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Mexico Energy Summit January 27

Posted on by February 23, 2015

oildrop_logo_300What  opportunities will be available to American oil and gas companies, and those in allied industries, as a result of Mexico’s historic decision to open its energy sector to outside firms? What are the financial, legal and business risks these firms need to consider?

A panel of energy industry experts from both sides of the border will provide answers and insights at the Mexico Energy Summit on January 27, 2015, in downtown Los Angeles. The Summit is organized by the law firm of Luna & Glushon and the California Oil & Gas Report.

Program details and the list of speakers are presented here.

Santa Barbara OKs Exemptions To Anti-Fracking Measure

Posted on by October 9, 2014

The Santa Barbara County Board of Supervisors, by a 3-to-2 vote Oct. 7, approved ordinances aimed at exempting the 1,200 oil and gas wells now operating in unincorporated areas of the County from an anti-fracking measure voters will consider in November.

Known as Measure P, the proposal would ban “high-intensity petroleum operations,” which it defines as hydraulic fracturing, acid well stimulation treatment, cyclical steam injection, and the injection of solvents, acids and other chemicals. Proponents claim the measure (titled “The Healthy Air and Water Initiative to Ban Fracking”) will protect air quality and water supplies.

Supervisors at the meeting acknowledged that the measure, if passed, could trigger lawsuits by well owners and operators arguing that such a ban amounts to an unconstitutional “taking” of their property, and denial of vested rights in their property.

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