The Texas Supreme Court recently released its opinion in Devon Energy Production Company, L.P. v. Sheppard, — S.W.3d —, No. 20-0904, 2023 WL 2438927 (Tex. 2023), in which it held that lessees owed royalties in excess of their gross proceeds, specifically “adding back” costs incurred by third-party buyers that were enumerated in the sales
The Texas Supreme Court recently released its opinion in Van Dyke v. Navigators Grp., No. 21-0146, 2023 WL 2053175 (Tex. Feb. 17, 2023), in which it re-affirmed the axiomatic principle that a text retains the same meaning in the present day as when it was drafted. In the context of antiquated oil and gas
The Safer Seas Act was passed and enacted into law in December 2022 as part of the National Defense Authorization Act. The Act includes many changes for the maritime industry, specifically for owners and operators of vessels. The below checklist, current as of March 3, 2023, summarizes the required operational and onboard changes. It is
In Crooks v. State of Louisiana through the Department of Natural Resources, 22-0625 (La. 1/1/23), ___ So. 3d ___, 2023 WL 526075, the Louisiana Supreme Court rejected a writ of mandamus that would have compelled the LDNR to satisfy a $4.7 million judgment for reimbursement of mineral royalties. In doing so, the Court further
On January 27, 2023, the Louisiana Supreme Court issued a ruling involving claims for negligent infliction of emotional distress (“NIED”) absent physical damage. In Spencer v. Valero Refining Meraux, LLC, 2022-00469 (La. 1/27/23), — So. 3d –,[1] the Court reversed several lower court decisions that awarded the plaintiffs damages for NIED absent physical
Recently, the U.S. Department of Labor released a new highly anticipated final regulation under which retirement plan fiduciaries, such as 401(k) plan sponsors, are permitted—but are not obligated—to consider climate change and other environmental, social and governance (“ESG”) factors when selecting retirement plan investments or exercising shareholder investment rights, such as proxy voting, under
The Louisiana Coastal Protection and Restoration Authority (CPRA) recently released its 2023 draft Coastal Master Plan, which is required by law to be updated every six years. The most recent draft is the fourth update since it was first adopted by the Louisiana Legislature in 2007 following Hurricanes Katrina and Rita in 2005.[1]
In a recent decision following a six-day bench trial, the Southern District of Texas ruled that shipping giant Maersk was not liable for the death of City of Kemah Police Chief Christopher Reed, who was knocked overboard when his boat caught the wake of the Maersk Idaho in the Houston Ship Channel.[1] Mr. Reed’s
The SECURE 2.0 Act of 2022 (“SECURE 2.0”), signed into law by President Biden on December 29, 2022, is another round of retirement reforms that began with the original SECURE Act (i.e., the “Setting Every Community Up for Retirement Enhancement Act”) passed in 2019. SECURE 2.0 contains over 90 provisions that will have at
The Capital Construction Fund (“CCF”) program is designed to encourage owners of U.S. flagged vessels to accumulate sufficient capital to acquire additional U.S. flagged vessels by offering tax incentives to do so. The CCF program works like a combination of an IRA and a Roth IRA in the sense that, like a regular IRA, an