EOG - Judge blocks Biden's halt on new oil and gas leases

Grafissimo/E+ via Getty Images A U.S. District Court judge grants a preliminary injuction to Louisiana and 12 other states that sued the Biden administration over the halt on new oil and gas leasing on federal lands. In his ruling, the judge said the states had met the requirements to establish that they would suffer injury from the pause, and that the states have a "substantial likelihood of success" with their lawsuit. The ruling will remain in effect pending the final resolution of the case or orders from higher courts. Shares of energy companies with heavier federal lease exposure, such as Devon Energy (DVN), EOG Resources (EOG) and ConocoPhillips (COP), fell sharply when President Biden signed his executive order in January. ETFs: [[XLE]], [[XOP]] Devon Energy, the top oil producer on onshore federal land in the Lower 48 states, has said it expects its existing federal lands permits will last at least

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Judge blocks Biden's halt on new oil and gas leases