louisiana land and exploration company

Foster, announced that The Louisiana Land and Exploration Company is donating to the State of Louisiana the surface rights to its land holdings in the Isles Dernieres chain of barrier Responding to these problems, Phillips curtailed and then suspended copper mining, reduced staff, eliminated high-risk exploration ventures, cut back on capital expenditures, and in November reduced the cash dividend. Respondent argues that the amendments to section 613 were intended to eliminate percentage depletion not only for oil and gas but also for all other minerals produced from oil and gas wells except as provided in section 613A. Regulated natural gas is gas regulated by the Federal Power Commission, which regulates only the price of fuels. WebLouisiana Land & Exploration Co LLC/The - Company Profile and News - Bloomberg Markets Bloomberg Connecting decision makers to a dynamic network of information, people and St. Bernard Parish, Baritaria (Crown Point), and Acadiana Milling, Benson, Woodward, Hillyer, Pierson & Miller, Charles D. Marshall, Jr., Appeal Counsel, David N. Schell, Jr., New Orleans, for plaintiff-appellee Louisiana Land and Exploration Co. Gene W. Lafitte, Appeal Counsel, George J. Domas, Anne E. Tate, Liskow & Lewis, and Frederick W. Veters, Patrick J. Butler, Larry N. Port, Robert E. Plumb, Jr., James D. Hurley, Texaco Inc., New Orleans, for defendant-appellant Texaco, Inc. In 1946, this original structure was acquired from the Sun Oil Company and transported by barge from Cocodrie, LA to its current location in Paradis. This type of contract differs from the so-called "dedication" contract, whereby the producer contracts with a customer agreeing to furnish all the gas produced from specified reserves, thus "dedicating" those reserves to the particular customer. Respondent thus argues that because the sulphur in issue is a product of oil and gas wells, it loses its section 613 depletion allowance. WebRead Louisiana Land and Exploration Co. v. Donnelly, 394 F.2d 273, see flags on bad law, and search Casetexts comprehensive legal database Louisiana Land and Exploration Co. v. Donnelly, 394 F.2d 273 | Casetext Search + Citator Sec. Furnel, Inc. has been successfully implementing this policy through honesty, integrity, and continuous improvement. "The 1970's * * * brought about an abrupt redirection in the Nation's energy policy. It replaced 203 percent of expended reserves, adding 55 million equivalent barrels of oil and natural gas, 46 percent of which came from the East Brae Field. WebThe Louisiana Land And Exploration Company LLC is categorized under Crude Petroleum & Natural Gas Extraction. In 1935, after Texaco had been fully reimbursed, LL&E paid its first dividends. The amine solution absorbs the hydrogen sulfide and carbon dioxide and natural gas flow out of the top of the contactor. Co. Linder Oil Co. A Partnership P.C.S.I. 94-36, 94th Cong., 1st Sess. After extensive research and analysis, Zippia's data science team found the following key financial metrics. 4611 (1975) (remarks of Representative Green); 121 Cong. If gases that are never used as fuels, such as hydrogen sulfide, were considered natural gases for purposes of section 613A(c), the conversion ratio would be nonsensical. Section 613A(c) provides limited percentage depletion for independent producers and royalty owners based on a depletable oil quantity of 1,000 barrels per day. The primary issue on appeal is whether that value should be determined under Section 105 of the NGPA, as Texaco argues, or under the higher ceiling price reflected in Section 109 of the NGPA, as LL & E claims. As LL&E operations grew, both sales and revenues increased. There is no indication that Congress intended to limit percentage depletion for any products of oil and gas wells other than hydrocarbon fuels.12. The term "subject to," in its ordinary sense, means "subordinate to" or "governed or affected by". These diversification adventures were possible in part because of high profits in the oil industry. Listed below are those cases in which this Featured Case is cited. Louisiana Historical Society and several works divided into 64 parishes (the only state to use this term for its Sec. 7807. tax. Through the 1930s and 1940s, LL&E collected royalties on oil and minerals extracted from the land it owned and controlled. 204(c)(2), 44 Stat. The acid gas next is separated from the amine solution and passed into a multistage Claus sulphur recovery system, where hydrogen sulfide is converted into molten elemental sulphur by controlled combustion with air. 3rd Cir.1984), wherein the court approved the procedure of granting a partial summary judgment on the issue of an insurer's obligation to defend, reserving to the insured the right to establish damages in a further proceeding. Click on the case name to see the full text of the citing case. Instead, we find that the value of the gas within the terms of the leases is a disputed factual issue to be determined at the hearing on damages. Respondent raises a final argument for the first time on brief that sulphur derived from hydrogen sulfide cannot be depletable pursuant to section 613 because it is not possible to calculate "gross income from the property" with respect to the sulphur as section 613(c) requires. If independent producers cannot claim percentage depletion for the sulphur they may recover from hydrogen sulfide before selling the hydrocarbon fuels extracted from an oil and gas well, there is less economic incentive to explore for and exploit new wells, particularly sour gas wells. It also sought to expand riskier but potentially more lucrative foreign exploration. James (1) CRUDE OIL.The term "crude oil" includes a natural gas liquid recovered from a gas well in lease separators or field facilities. Steward announced that LL&E would sell nonstrategic oil and gas properties and use the proceeds to repay long-term debt and repurchase up to 10 percent of outstanding stock. R.S. Louis Hennepin, Lahontan, Louis Narcisse Baudry des Lozires, Jean-Baptiste Bnard de La Harpe, and Laval. Much of the land was eventually taken over by a group of midwesterners led by Henry Timken, who owned an Ohio ball bearing company. The practice in the oil and gas industry when section 613A was enacted was to sell hydrocarbon gas for use as fuel under long-term fixed price contracts. In 1986 Williamson rid LL&E of the Copper Range Company--taking a $91 million charge in the process. WebProperties Operated by Louisiana Land & Exploration Co View All Properties Operated by Louisiana Land & Exploration Co Recent Permits Filed by Louisiana Land & Exploration Co Company Contact Information These are the contact records we have for Louisiana Land & Exploration Co. The standard history of the state, though only through LL&E's company earnings, $54.9 million in 1990, fell to $20.9 million in 1991 as falling oil and natural gas prices combined to make the year a difficult one. Although this Court will disregard a stipulation that is plainly contrary to the facts (Jasionowski v. Commissioner, 66 T.C. Petitioners are calendar year, accrual method taxpayers. 121 Cong. For example, we don't hesitate to use consultants. We find that the use of the term "subject to" in subsection (b), (and again in Section 109) necessarily qualifies the more general language "sold under". the Civil War, is Charles Gayarr's History of Louisiana Section 613A was the product of congressional concerns about the nation's increasing dependence on foreign oil and large profits the major integrated oil companies were reaping. In response, LL & E filed a cross motion for partial summary judgment to declare these payments improper, which was eventually granted by the district court. The Island is also the original home of Spots, the beloved blue-eyed white alligator who lived at the Audubon Aquarium of the Americas for 24 years. The oil stabilization system also reduces the vapor pressure of the crude oil to a low enough level that it can be stored and transported in atmospheric tanks and tank trucks. Costs were low at $3.23 per barrel and by year's end, LL&E's reserve life index stood at 8.4 years, nearly double that of 1980. The percentage depletion rate for sulphur is 22 percent. Louisiana Land & Exploration Co. is a corporation applicant based in New Orleans, Louisiana for 66 closed leases. Louisiana. The goal of the legislation was to eliminate what was perceived to be an unneeded tax incentive only for the major integrated oil companies. Citations are also linked in the body of the Featured Case. Tenneco Exploration, Ltd. v. Federal Energy Regulatory Commission, wherein the federal Fifth Circuit read NGPA Section 104 in para materia with Section 109 to determine the applicability of Section 109 to gas that had not been committed or dedicated to interstate commerce within the meaning of the NGPA.). In 1984, the Supreme Court considered the effect of section 613A on percentage depletion of oil and gas income and concluded that sections 611-613A permit an allowance for percentage depletion on lease bonuses at some point during the productive life of the lease, regardless of when actual production of oil and gas occurred. Forbes later criticized the Jacintoport purchase, maintaining that LL&E had gotten into industrial real estate, "just at the time when the play was going out of it along the Gulf Coast.". 30:29 (referred to as Act 312), this oilfield remediation case involved the Vermilion Parish School Board (VPSB), individually and on 82-17, 1982-1 C.B. Section 613A(e)(1) defines "crude oil" as including "a natural gas liquid recovered from a gas well in lease separators or field facilities." The separated natural gas is processed further in another contactor which removes water vapor from the gas stream. Natchitoches, Cane River Creole National Historical Park in WebThe Louisiana Land and Exploration Company 909 Poydras Street P.O. Business Week called Louisiana Land's record "dismal" and noted that despite spending $1.4 billion over the previous four years Phillips had failed to increase oil and gas reserves. After considering the language, structure and legislative record of the passage of section 613A, we do not believe that section 613A was intended to limit sulphur depletion pursuant to section 613(b)(1). The magazine went on to comment that LL&E's finding and developing costs were among the industry's highest and noted that the company had closed its Michigan copper mine after completing work on a $78 million dollar copper smelter. Hydrocarbons are organic compounds containing only hydrogen and carbon and are most commonly used as fuels. 3301 et seq. 1812; seceded from the Union, 1861; re-admitted, 1868; experienced These moves strengthened LL&E's overall position, but plunging oil prices and the Copper Range charge took their toll. Rec. In 1975 the company opened a small refinery in Mobile, Alabama, to process 30,000 barrels a day of Jay Field crude. LL & E, which leases certain lands to Texaco for the production of gas, brought suit against Texaco claiming Texaco had failed to pay proper royalties under the leases. The [carbon dioxide] is an exhaustible natural deposit but is not specifically referred to in any of the categories named in paragraphs 613(b)(1) through (6). an economic revolution in the early 1900s when large deposits of The Copper Range acquisition did not please the financial community. 4606 (1975). Furnel, Inc. is dedicated to providing our customers with the highest quality products and services in a timely manner at a competitive price. 346 F.2d 377 (5th Cir. Login | Register; Home; Operators; Leases; Wells; Permits; Pricing; Search; Map; Sweet Lake Land And Oil Co 001: API No. The district court's decision is a proper partial summary judgment under Louisiana Code of Civil Procedure article 966(C), which provides that summary judgment "may be rendered on the issue of liability alone although there is a genuine issue as to the amount of damages." 613A(c)(3). Oil and gas have been extracted from wells containing a trace quantity of hydrogen sulfide and from wells containing as much as 90-percent hydrogen sulfide. 613A(b). It was solely Texaco's choice to meet its obligations to these customers with LL & E's gas. Natural gas, in contrast, is a broad concept encompassing many types of gases and is, therefore, more difficult to define. WebLa. Specifically, subparagraph (C) does not state "minerals from oil and gas wells.". WebThe La Land & Exploration Co U 004: API No. Following respondent's reasoning, "natural gas" for purposes of section 613A means any product extracted from an oil and gas well in a gaseous state. We must decide whether section 613A eliminates the section 613 percentage depletion rate on sulphur when hydrogen sulfide is produced from an oil and gas well and subsequently converted into elemental sulphur. Rec. WebLouisiana Land & Exploration Co. / API # 33-023-00257 Well Summary Well Name: Germany 34-14 1 API #: 33-023-00257 Operator: Louisiana Land & Exploration Co. County: Divide County, ND Production Dates on File: No Production Data Available Map of Germany 34-14 1 Germany 34-14 1 Well Details Nearby Wells API # 33-023-00448 | Burtman 19-1 Rec. Products; Resources; My Account; Talk to a D&B Advisor 1-800-280-0780. Business Directory. E.g., 121 Cong. Current estimates show that the unit has a sales volume of $1500000 and staff of approximately 17 people. Both are part of the PLSS measurement system but have different uses. Lease No. A number of cities in Louisiana are also home to Jewish communities, denied 382 U.S. 892 (1965). It insisted that drillers bury pipe so as to not disrupt grasses or aquatic life, and it constructed pumps and water control structures to prevent erosion or saltwater intrusion. The acid gases (hydrogen sulfide and carbon dioxide) are separated from the natural gas through an absorption process. As on previous occasions, LL&E's involvement was a financial one. WebThe Louisiana Land and Exploration Company LLC * 5 Principals See who the company's key decision makers are 3 Contacts Reach the right people with access to detailed contact This implication, however, is improper given the historical application of the term "oil and gas well" in the depletion provisions to mean simply "oil and gas." Epps. In 1981 he budgeted a still-record $653 million for exploration and development. gas production (mainly offshore); oil refineries and petrochemical Pursuant to section 613A, oil and gas wells qualify for percentage depletion in narrowly limited circumstances. Representative William Green introduced an amendment to repeal percentage depletion for oil and gas during the floor debates in the House but the Senate Finance Committee deleted the provision. and the applicable percentage (determined in accordance with the table contained in paragraph (5)) shall be deemed to be specified in subsection (b) of section 613 for purposes of subsection (a) of that section. WebIn 1946, this original structure was acquired from the Sun Oil Company and transported by barge from Cocodrie, LA to its current location in Paradis. Shell Oil Co., v. Williams, 428 So.2d 798 (La.1983). Section 613(b)(7) is a catch-all provision for minerals not mentioned elsewhere in the subsection. We aim to provide a wide range of injection molding services and products ranging from complete molding project management customized to your needs. During the years in issue, petitioners were engaged primarily in exploration for and development, production, refining, and sale of crude oil and natural gas and exploration for, production and mining of other minerals such as sulphur, gold, silver, copper, and coal in the United States and several foreign countries.

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