4 Invaluable Advantages Of Having An Oil And Gas Attorney

Though most people imagine that all lawyers specialize in criminal law, nothing could be further from the truth. Law is becoming more specialized in the 21st century, and as a result, it's to you and your company's advantage to hire a lawyer that is an experienced expert in your field. If you're in the oil and gas business, it's vital to have a lawyer that understands the nuances of the industry and the laws behind it. Take note below of four reasons why it's worth having an oil and gas lawyer, like those at Roberts Miceli Boileau & Doutt LLP, on your side.

Storage Well Leases

Whether you're the lessor or lessee in a lease agreement, having a lawyer decipher the finer points of the agreement is always necessary. Lawyers can negotiate the amount of initial cash bonuses, the length of primary and secondary terms, and nail down the amount and type of royalties, should they apply. Other technicalities such as possible lease assignments and damage insurance can also be handled by an oil and gas lawyer.

Eminent Domain

Federal and state governments hold the power to designate private property for public use, and oil and gas companies often utilize this power to build pipelines hundreds of miles long. In cases where eminent domain applies, a lawyer can help ease the proceedings by reducing the number of easements acquired via condemnation claims, as well as work to acquire a variety of infrastructure types including roads, fiber optic cable and abandoned pipelines.

Tax Incentives

If you're the owner of an oil and gas company, you'll want to get the most bang for your buck by discovering all the federal and local tax incentives you can. Hiring a team of attorneys that specialize in energy law (and more specifically in oil and gas tax codes) can expedite the process of searching for financial situations most beneficial to your company and the bottom line, saving you a lot of time and money.

Regulatory Compliance

In the oil and gas business, you want to always ensure that you're on the right side of the law, whether at the state or federal level. Energy regulations are dense, complicated and always in a state of flux, meaning that oil and gas attorneys are the most qualified to keep you up to date. In the case that your company is charged with regulatory violations, attorneys can also represent you in court and argue on your behalf.