Leases between mineral interest owners and oil and gas exploration companies should be symbiotic. Mineral interest owners obtain payments for the oil or natural gas sitting under their land while oil and gas companies turn a profit collecting, refining, and selling a finished product. However, one of the biggest areas of contention in lease disputes is the amount of deductions made on behalf of the oil and gas company.
Broker run auctions are a common method of buying and selling oil and gas assets. The auctions typically provide data rooms on the assets and rules for bidding and acceptance. A form Purchase and Sale Agreements is provided and required to executed to consummate a sale. However, a recent Texas appellate court decision found this process can be preempted by emails between a buyer and seller.
When the Texas Citizens Participation Act (TCPA) or Texas anti-SLAPP statute was signed into law in 2011, few realized how widely applicable it would be. Anyone involved in oil and gas litigation needs to understand how Texas courts have applied the anti-SLAPP statute in oilfield cases in order to reach the successful resolution of a claim.