News & Analysis as of

Oil & Gas Contract Formation

Gray Reed

Offer to Acquire Leases Could Not be Conditioned on a JOA

Gray Reed on

From Great Western. Drilling, Ltd. v. Pathfinder Oil & Gas, Inc. we learn that if you want one agreement to be conditioned on execution of another one, you’d better say so … in writing … in the first one....more

A&O Shearman

First No Contract by Ambush. Now No Contract by Email, Texas Supreme Court Says.

A&O Shearman on

On February 28, 2020, the Texas Supreme Court reversed a ruling from the First Court of Appeals in Houston in the case of Chalker Energy Partners III, LLC, et al. v. Le Norman Operating LLC, 547 S.W.3d 27 (Tex. App.—Houston,...more

Porter Hedges LLP

Alert: "Texas Supreme Court Confirms No Obligation Clauses Can Prevent Contract Formation"

Porter Hedges LLP on

On the heels of its opinion in Energy Transfer Partners, L.P. v. Enter. Products Partners, L.P., in which the court held that parties can agree to conditions precedent before the partnership formation factors in Tex. Bus....more

Orrick, Herrington & Sutcliffe LLP

Texas Supreme Court: Contracting Parties Can Negate The Formation Of A Partnership Through Contractual Conditions Precedent In...

The Texas Supreme Court issued an important ruling on Friday, January 31, 2020, on the formation of partnerships where parties have provided by contract specific conditions that must be satisfied before a partnership will be...more

Dechert LLP

Global Private Equity Newsletter - Winter/Spring 2018 Edition: Recent Developments in Acquisition Finance - Did you just commit to...

Dechert LLP on

The question of when parties to a potential transaction actually become bound to each other is obviously an important one, and sometimes the answer can be surprising, or less than entirely clear. A recent Texas Court of...more

Gray Reed

Landman Defeated By The Statute Of Frauds

Gray Reed on

Proving once again that gratitude is the rarest of human emotions, a contract between a landman and his client was deemed unenforceable, leaving the landman with nothing, even though he actually secured oil and gas leases for...more

Gray Reed

Oil, Gas and the Electronic Transactions Act

Gray Reed on

In the spirit of Halloween, Le Norman Operating v. Chalker Energy Partners III is about a scary statute: The Texas Uniform Electronic Transactions Act, the UETA....more

Patterson Belknap Webb & Tyler LLP

Commercial Division Refuses to Disturb Judgment Based On “Newly Discovered” Evidence That Was Available in Russian Public Records...

What is the ability of a litigant in the Commercial Division to use evidence located in the public records outside of the United States to re-open a New York court judgment? On December 7, 2016, in Alexander Gliklad v....more

Gray Reed

How to “Score” a Contract from the Red Zone

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Football pundits like to discuss Red Zone effectiveness. Driving to the goal line doesn’t much matter if you don‘t score. So, why would a negotiating party fail to score an enforceable contract while negotiating from the Red...more

Gray Reed

Avoid the Oral Agreement

Gray Reed on

Cresson SWD Services, L.P. vs. Basic Energy Services, L.P. is a warning about the perils of an oral agreement for a risky downhole procedure. Cresson hired Basic to make improvements on a saltwater disposal well by deepening...more

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