FEDERAL - JUDICIAL: Climate Change Suit – U.S. Supreme Court. (Update to 3/16/20 Weekly Report) On October 2, the U.S. Supreme Court granted review "to hear an appeal by energy companies including BP PLC, Chevron Corp, Exxon Mobil Corp and Royal Dutch Shell PLC contesting a lawsuit by the city of Baltimore seeking damages for the impact of global climate change." For background, in Baltimore v. BP P.L.C. et al (Case No. 19-1644), the U.S. Court of Appeals for the Fourth Circuit, on appeal from the United States District Court for the District of Maryland, affirmed that Baltimore's pending lawsuit seeking to hold multiple oil and gas companies liable for climate change harms belongs in state court. The lawsuit, which seeks monetary damages to help pay for climate impacts, was originally filed in Maryland state court last year but the oil and gas company defendants successfully moved the case to federal court. We will keep members updated as the cases progresses in the U.S. Supreme Court. Read more.
STATE - REGULATORY: Railroad Commission; New Chairman – Texas. On September 22, the Texas Railroad Commission (RRC) announced that Commissioner Christi Craddick was unanimously elected RRC Chairman of the Railroad Commission during that day's Commission conference. Craddick "was first elected statewide by the people of Texas in November 2012 to serve a six-year term as Texas Railroad Commissioner. A native of Midland, Christi is an attorney specializing in oil and gas, water, tax issues, electric deregulation and environmental policy." Read more.
INDUSTRY NEWS: Permian only major region to grow production in October. "U.S. crude oil production from seven major shale formations is expected to decline by 68,000 barrels per day in October to 7.64 million b/d, according to the latest drilling productivity report" from U.S. Energy Information Administration (EIA). However, the EIA also reports that the Permian Basin in Texas and New Mexico "is expected to grow oil production by 23,000 b/d to 4.173 million b/d in October." Read more.