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In the oil and gas industry, exploration and production activities can be extremely expensive, and there is always the risk that a well will not produce the expected results. A dry-hole clause is used to specify how the costs of drilling a dry hole (a well that does not produce a viable resource) will be shared between the parties involved in ...
With the advent of AI, natural gas could become a destination fuel rather than a temporary stopgap. ... AI could be giving natural gas a second lease on life. Richard Lum. October 3, 2024 at 2:20 AM.
The lease expires after the primary term, unless drilling or oil and gas production has started on the lease. If production is established, the lease will remain in effect past the primary term, as long as the lease continuously produces oil or gas. The lease can however, be revived by virtue of delay rentals.
The Mineral Leasing Act of 1920 30 U.S.C. § 181 et seq. is a United States federal law that authorizes and governs leasing of public lands for developing deposits of coal, petroleum, natural gas and other hydrocarbons, in addition to phosphates, sodium, sulfur, and potassium in the United States.
Natural gas prices have surged nearly 25% over the last month. Energy experts attribute the rise to cold weather expected in January and geopolitical issues around the globe. The cold temperatures ...
(Reuters) -Oil and gas companies and environmental groups on Monday filed dueling legal challenges to the Biden administration's five-year plan to offer drilling leases in the Gulf of Mexico.
The Gas Exporting Countries Forum (GECF) is an intergovernmental organization currently comprising 19 Member Countries of the world's leading natural gas producers: Algeria, Bolivia, Egypt, Equatorial Guinea, Iran, Libya, Nigeria, Qatar, Russia, Trinidad and Tobago, and Venezuela are members and Angola, Azerbaijan, Iraq, Mozambique, Malaysia ...
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