News & Analysis as of

Pooling Agreement

Oliva Gibbs LLP

Muscled Out While “Muscling In”: The Role of Actual Drainage in MIPA

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In Ammonite Oil & Gas Corp. v. R.R. Comm’n of Tex., the Texas Supreme Court held that the Railroad Commission (the “RRC”) did not abuse its discretion in denying a “muscle in” application under the Texas Mineral Interest...more

Hicks Johnson

Texas Supreme Court to Review Rejected Forced Pooling Applications

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The Texas Supreme Court will review a state regulator’s rejection of 16 applications submitted by Ammonite Oil & Gas Corp. (“Ammonite”) to force pool its mineral estate with adjacent wells operated by EOG Resources Inc....more

McGlinchey Stafford

Can I Stop Invasive Corporate-Wide Discovery? - McGlinchey Commercial Law Bulletin - February 3, 2023

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Ohio- Tortious Interference with Business Relations Emanuel’s LLC v. Restore Marietta, 4th Dist. Washington No. 2023-Ohio-147. In this appeal, the Fourth Appellate District affirmed the trial court’s decision to grant...more

Gray Reed

Texas NPRI Not Diminished by Pooling Ratification

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The takeaway from Hahn v. ConocoPhillips Company is that in Texas a NPRI holder may not diminish his rights by ratifying pooling of an oil and gas lease unless there are provisions explicitly purporting to do so....more

Gray Reed

Louisiana Operator Slapped by Appellate Court

Gray Reed on

Louisiana’s compulsory pooling scheme seeks to balance the interests of individual landowners and oil and gas operators to promote responsible development of natural resources. Because of compulsory pooling, operators are not...more

Gray Reed

Fair and Reasonable Offer Required Before Force-Pooling in Texas

Gray Reed on

Ammonite Oil and Gas Corporation v. Railroad Commission of Texas illustrates the difficulties faced by lessees attempting to force-pool a tract under the Mineral Interest Pooling Act.  In this case, the applicant Ammonite...more

Gray Reed

Supreme Court Introduces Totality of the Circumstances Test for Implied Ratification

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“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

McDermott Will & Emery

Impact Finance: Innovative Finance Solutions to Target Global Health Issues

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While the basic investment infrastructure needs to be developed, impact investment is becoming a stable and sustainable alternative for institutional investors and high-net-worth individuals. Private Equity funding is well...more

Gerald Nowotny - Law Office of Gerald R....

ROCK OF AGES: The Arithmathean Pension Plan - Using the Pooled Income Fund for Non-Deferred Compensation Planning

The first article for professional publication that I wrote was an article about using offshore trusts in non qualified deferred compensation planning. I called the article the Rastafarian Rabbi Trust. The article was...more

Mayer Brown

Ginnie Mae Restricts Long-Time Legitimate Business Activity of Mortgage Servicers

Mayer Brown on

Ginnie Mae’s newly imposed restriction on repooling of reperforming forborne loans yet again penalizes servicers acting as essential service providers in the continuing efforts to protect mortgagors facing financial hardship...more

Morgan Lewis - ML Benefits

Stay Tuned – DOL to Issue RFI on Pooled Employer Plans

While much of the attention by regulators has been focused on the coronavirus (COVID-19) response and CARES Act/FFCRA guidance, they have not forgotten about the SECURE Act’s introduction of pooled employer plans (PEPs)...more

Gray Reed

Lessor, Should You Cash That Royalty Check?

Gray Reed on

Did the lessor’s deposit of royalty checks for production from a pooled unit that she contends was improper ratify the improper pooling? In Strickhausen v. Petrohawk et al, a jury will have to sort out the answer....more

Steptoe & Johnson PLLC

Colorado Senate Bill 181 Signed by Governor Polis

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Governor Polis signed the highly controversial S.B. 181 into law on April 16, 2019. Why is this important to you? S.B. 181, also known as “Protect Public Welfare Oil and Gas Operations” has been referred to as “landmark...more

Steptoe & Johnson PLLC

In the Know: Update on Colorado’s Senate Bill 181

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As discussed in our March 13 post..., Senate Bill 181, introduced on March 1, proposed significant changes to Colorado’s long-standing oil and gas regulatory system. After a number of amendments from Senate and House...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Trustee Duties Under Event of Default

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Bass, Berry & Sims attorney Chris Lazarini analyzed a case brought by plaintiffs against Bank of New York Melon (BNYM) alleging that the firm breached its trustee duty to act prudently after the event of default. The court...more

Snell & Wilmer

The Future of Oil and Gas Development in Colorado After Martinez

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Coloradoans continue to see fights over oil and gas development in the news. Following last month’s Colorado Supreme Court decision in COGCC v. Martinez, mineral owners in the Wildgrass neighborhood of Broomfield, Colorado,...more

Katten Muchin Rosenman LLP

Court Confirms Contractual Limits of Trustee's Duties

On April 2, 2018, the US District Court for the Southern District of New York dismissed a proposed residential mortgage-backed securities (RMBS) class action against U.S. Bank, in its capacity as trustee ("U.S. Bank" or...more

Polsinelli

The Saga Resumes: The Bakery & Confectionery International Pension Fund Again Announces a Two Pool Proposal

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As we reported previously, the Bakery & Confectionery Union and Industry International Pension Fund (B&C Fund) has been underfunded for years, with actuaries estimating that the B&C Fund will become insolvent by January 2030....more

Eversheds Sutherland (US) LLP

Tax Court Decides First Micro Captive Case

On August 21, 2017, the Tax Court issued its opinion in two companion cases Benyamin Avrahami and Orna Avrahami v. Commissioner, and Feedback Insurance Company, Ltd. v. Commissioner, 149 T.C. No. 7, holding against the...more

Mintz - Energy & Sustainability Viewpoints

U.S. Public Companies: Calculating Your Public Float – What You Need to Know

If you are a year-end U.S. public company, your second fiscal quarter has recently come to an end, which means that it’s time to calculate your public float to see if your reporting status has changed. Here are a few things...more

K&L Gates LLP

West Virginia Confirms its Adherence to the Contract Theory for Pooling of Non-Participating Royalty Interests

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Recently, the Supreme Court of Appeals of West Virginia clarified an important issue for the oil and gas industry in Gastar Exploration, Inc. v. Contraguerro, affirming West Virginia’s adherence to the contract theory of...more

Kramer Levin Naftalis & Frankel LLP

Antitrust & Distribution Alert - The End of the Insurance Block Exemption Regulation

On 31 March 2017, the EU Insurance Block Exemption Regulation n° 267/2010 (“IBER”) will expire and will not be renewed. Therefore, the types of cooperation it covered will fall under the general rules of competition law. ...more

Locke Lord LLP

California Court Issues Decision Limiting the Reach of the Yvanova Decision

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On March 16, 2016, California’s Fourth Appellate District issued its opinion in Saterbak v. JPMorgan Chase Bank, N.A., Case No. D066636, finding that a borrower does not have standing to challenge an assignment of her Deed of...more

Locke Lord LLP

March 2016 Pooling Results in Lower SBIC Debenture Rate

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The March 2016 pooling of Small Business Investment Company (SBIC) debentures was priced at 2.507%, which is near the all-time record low rate. This is reduced from the previous semi-annual pricing of 2.829% for SBIC...more

Locke Lord LLP

California Supreme Court Finds Borrowers Have Standing To Challenge “Void” Assignment Of Loan After Foreclosure Sale

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On February 18, 2016, the California Supreme Court issued its eagerly anticipated decision inYvanova v. New Century Mortgage Corporation, et al., Case No. S218973, finding that a borrower has standing to state a claim for...more

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