In this recent case, the Texas Supreme Court resolved whether ratification of a lease or signing of a stipulation agreement could transform a fixed non-participating royalty interest (NPRI) into a floating NPRI....more
“Ratification is not a game of ‘gotcha’”, said the Texas Supreme Court in BPX Operating Co. v. Strickhausen. The Court, in a 5-4 opinion, addressed the standard for an oil and gas lessor’s implied ratification of an...more