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Fiduciary Duty Mineral Leases

Gray Reed

Texas Court Addresses Bad Acts in a Lease Play

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An opinion that observes “Obviously the jury was not overly enamored with Appellants.” is worth discussing. The decision is Stephens et al v. Three Finger Black Shale Partnership et al....more

Winstead PC

Court Discusses Diversity of Citizenship Jurisdiction Where A Trustee Removed The Case

Winstead PC on

In Thunder Patch II, LLC v. JPMorgan Chase Bank, N.A., plaintiffs filed suit against a trustee in state court seeking a declaration regarding the enforceability of a mineral lease, and the trustee removed the case to federal...more

Winstead PC

In A Usurpation Of Corporate Opportunity Case, The Texas Supreme Court Reversed A Constructive Trust Due To A Failure To Trace The...

Winstead PC on

In Longview Energy Co. v. The Huff Energy Fund, LP, Longview Energy Company sued two of its directors and their affiliates after discovering one affiliate purchased mineral leases in an area where Longview had been...more

Gray Reed

A Corporate Opportunity? … Stolen?

Gray Reed on

If you want to get to the meaning of a case, one exercise is to put yourself in the shoes of one participant or the other and see how you react to the events. (This also works well with Bible stories, by the way.) Last week...more

Stinson LLP

North Dakota Supreme Court Addresses What Creates a Fiduciary Relationship with a Land Broker

Stinson LLP on

On September 21, 2015, the North Dakota Supreme Court found that a fiduciary relationship between an oil company and its landman could exist depending upon the existence of a confidential relationship. Irish Oil...more

Gray Reed

Must the Lessee Be Wary of the Executive Right Owner?

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You are negotiating to take a big oil and gas lease. The run sheets show you are dealing with an executive right owner on behalf of himself and his NPRI owner. His proposed terms are odd: a lower-than-market royalty and a...more

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