In New Mexico, the Court of Appeals rules on whether oil and gas producers can waive their obligation to pay interest on proceeds held up by delays in distribution. The New Mexico Court of Appeals was recently called upon to determine whether a contractual agreement to waive interest on proceeds owed to mineral owners was […]
From the General Counsel
New Mexico Beckons The possibility of changes to the “pit rule” could make the state more appealing to energy producers. Could relief be in sight for higher-priced oil and gas operations in New Mexico? May 14, 2012, saw the beginning of the public hearings in front of the New Mexico Oil Conservation Commission regarding proposed […]
From the General Counsel
Joint Operating Agreements at Issue Recently, the Texas Supreme Court heard oral argument in its review of a decision by the Court of Appeals in Tyler. The case involves the finding of liability by an operator for, among other claims, failing to maintain production or operations on leased acreage, causing the leases to terminate. What […]
Indemnified or Not?
Merriam-Webster defines “indemnity” as follows: 1. a: security against hurt, loss, or damage; b: exemption from incurred penalties or liabilities. Those in the oil and gas industry define it as a necessary evil, but also a tricky one. The issue of indemnity provisions in contracts has been the subject of much scrutiny by both the […]
From the General Counsel ~ Angela Staples
Based on the frequency of my articles that concern the statute of limitations, I am certain that some (many?) of you must think that I am unreasonably obsessed with the topic. While I can’t dispute that it interests me, the number of articles is actually due to the recent surge in lawsuits, and Texas Supreme […]
From the General Counsel
by Angela Staples, General Counsel, Permian Basin Petroleum Association. Texas Supreme Court Update: When does trespass occur below ground? And how actionable would such trespass be? These are questions that still have no clear answers. In the March Issue of PBOG, I discussed a case upon which the Texas Supreme Court would be hearing oral […]