Unconventional oil and gas differs from conventional oil and gas not in the nature of the oil or gas itself, but in the type of rock formation from which such oil and gas has been extracted and the method by which such extraction takes place.
Historically, oil and natural gas has been found in underground reservoirs trapped between geological strata. Vertical wells are drilled into these reservoirs to allow the oil and/or gas to flow out under pressure (or with the use of pumps or compression tools as the pressure within the reservoir declines). Unconventional oil and gas derives from tiny connected pore spaces that contain oil or gas within the rock strata themselves. The oil and gas is essentially trapped within these pore spaces and is unable to flow naturally and requires
To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.
**Trials are provided to all LexisNexis content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisNexis services please email customer service via our online form. Free trials are only available to individuals based in the UK, Ireland and selected UK overseas territories and Caribbean countries. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
The Department for Energy Security and Net Zero (DESNZ) has published updated guidance on domestic energy tariff reductions for energy suppliers. The...
The Department for Energy Security and Net Zero (DESNZ) has published its third statutory review of the North Sea Transition Authority (NSTA) under...
Ofgem launched on 28 April 2026 a private beta of its new digital service 'Comply with Heat Networks Consumer Protection Regulations' as part of the...
The Commission, European Parliament, and Council of the EU have jointly published their ‘One Europe, One Market Roadmap’, covering the institutions’...
Knock-for-knock indemnities: risk allocation in offshore energy contractsWhat are knock-for-knock indemnities?A knock-for-knock clause is a reciprocal agreement to apportion liability for certain losses (usually, death or injury to personnel and damage to property) between contracting parties,
Production Sharing ContractsIntroductionA production sharing contract (PSC) is a contractual relationship between a host government and a private sector participant (‘investor’) whereby the government contracts with the investor to carry out oil and gas exploration and production activities (E&P
Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid
If a beneficiary signs a deed of disclaimer of their share of an estate and the estate pays their legal fees, will that count as a PET against their estate?A disclaimer is the refusal of a gift prior to acceptance. The refusal of the gift must take place before the beneficiary accepts any benefit
0330 161 1234