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New Methane Regulations

First published in Oil & Gas Financial Journal, September 2016

By Larry Nettles and Corinne Snow

V&E partner Larry Nettles and V&E associate Corinne Snow recently authored an article on EPA's economic analysis of the new "Quad Oa" regulations of methane and volatile organic compound air emissions from the oil and gas sector. EPA now estimates that the costs of complying with the rule will be significantly higher than its initial estimates in the fall of 2015.

EPA nonetheless concluded that this rule will have a net economic benefit, based in large part on the high dollar value that EPA placed on the reduction in greenhouse gases that it anticipates achieving through this rule. EPA's assessment indicates that the costs of this new rule will be felt most heavily by the upstream segment of the oil and gas industry. Upstream operators will face new capital costs for equipment, as well as ongoing monitoring and reporting obligations. To read the full article, click here.

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This information is provided by Vinson & Elkins LLP for educational and informational purposes only and is not intended, nor should it be construed, as legal advice.