“To spud or not to spud,” that was the question before the Texas Supreme Court in determining whether a lessee, Sundown Energy, maintained a lease on non-producing acreage under the lease’s continuous drilling provisions.1...more
Aided by terms of art and a long history of precedent, parties entering an oil and gas lease can generally choose from common, time-tested clauses to serve their needs. Yet we know from practice that royalties and allocating...more