The newly-adopted Texas Business Courts open in September 2024. These courts will bolster the Texas judicial system by adding an efficient court that specializes in large commercial business disputes. ...more
A Texas appellate court recently issued guidance on the meaning of “willful misconduct” in the exculpatory clause of a model form joint operating agreement (“JOA”). The exculpatory clause in many JOAs limits an operator’s...more
“To spud or not to spud,” that was the question before the Texas Supreme Court in determining whether a lessee, Sundown Energy, maintained a lease on non-producing acreage under the lease’s continuous drilling provisions.1...more
Class actions involving oil-and-gas leases and royalty payments are on the rise. In this program, V&E lawyers will discuss recent developments in the royalty class action space – including recent certification orders and...more
Aided by terms of art and a long history of precedent, parties entering an oil and gas lease can generally choose from common, time-tested clauses to serve their needs. Yet we know from practice that royalties and allocating...more
It is common for E&P companies in chapter 11 to seek to reject burdensome midstream contracts under Bankruptcy Code § 365. Rejection has not been permitted by bankruptcy courts where such agreements create enforceable...more
There is increasing concern among oil and gas producers that the market disruption caused by the Russian-Saudi price feud and the COVID-19 outbreak could lead to circumstances where production cannot be sold, transported, or...more