EPA Announces Reconsideration and Stay of Additional Parts of the Methane Rule

On May 26, 2017, the U.S. Environmental Protection Agency (EPA) issued a pre-publication notice that announced the reconsideration and a three-month stay to the effectiveness of certain portions of the 2016 rule establishing methane emissions standards for the oil and gas industry (“Methane Rule”). The Methane Rule applies to oil and gas facilities for which construction, modification, or reconstruction started after September 18, 2015. See 40 C.F.R. Part 60, Subpart OOOOa (40 C.F.R. § 60.5360a et seq. , adopted at 81 Fed. Reg. 35824 (June 3, 2016)). The May 26 notice granted reconsideration...

EPA Postpones Compliance Dates for More Stringent Requirements for Discharges from Coal Fired Power Plants

The U.S. Environmental Protection Agency (EPA) has taken two recent actions that have resulted in postponement of the compliance dates for more stringent requirements in the effluent limitations guidelines and standards for the steam electric power generating point source category originally published on November 3, 2015 (2015 Rule). This will allow EPA at least until August 12, 2017, to determine whether it will seek remand of any portions of the 2015 Rule. On April 12, 2017 the EPA filed a motion in the United States Court of Appeals for the Fifth Circuit requesting that ongoing litigation...

For Oil & Gas M&A, It’s a Buyers’ Market

For the majority of global oil and gas companies, 2016 was a tough year. Buffeted by depressed crude oil and natural gas prices, corporate profits were squeezed, sparking widespread restructurings, layoffs and in certain cases bankruptcies. In normal circumstances, such conditions would be a boon for merger and acquisition (M&A) activity. But uncertainty over the length and severity of the commodity price downturn created a value mismatch between buyers and sellers. The result was a moribund M&A market in the oil and gas sector. In fact, according to business advisory firm Deloitte,...

EPA Announces Methane Rule Reconsideration, Adding to List of Obama-Era Rules Under Review

On April 18, 2017, U.S. Environmental Protection Agency (EPA) Administrator Scott Pruitt announced that the EPA will convene a proceeding for reconsideration of certain elements of the 2016 rule establishing methane emissions standards for the oil and gas industry (“Methane Rule”). The Methane Rule applies to oil and gas facilities for which construction, modification, or reconstruction started after September 18, 2015. See 40 C.F.R. Part 60, Subpart OOOOa (40 C.F.R. § 60.5360a et seq., adopted at 81 Fed. Reg. 35824 (June 3, 2016). In particular, EPA will reconsider elements of the fugitive...

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