News & Analysis as of

Oil & Gas Operating Agreements

Opportune LLP

Asset-Backed Security Guide for Oil and Gas Financing

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Leveraging oil and gas assets for capital has become a strategic imperative for independent producers grappling with limited traditional financing options and economic volatility. Asset-backed securities (ABS) in the oil and...more

Holland & Knight LLP

Key Considerations for Companies Looking to Exit Oil and Gas Projects

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The Eagles, in their popular song "Hotel California," were prophetic when singing, "You can check out any time you like, but you can never leave." Oil and gas companies today may find it increasingly difficult to exit oil and...more

Gray Reed

Texas Supreme Court Decides Arbitrability of Offshore Agreements

Gray Reed on

In TotalEnergies E&P USA, Inc. v. MP Gulf of Mexico LLC. the Supreme Court of Texas resolved the chaos created by conflicting dispute resolution regimes in three contracts for ownership and operation of an offshore unit and...more

Bennett Jones LLP

Accounting for Oil and Gas Revenues Without an Operating Agreement

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In IFP Technologies (Canada) Inc v EnCana Midstream and Marketing, 2022 ABKB 807, the Court considered for the first time how to perform an accounting of profits from an oil and gas working interest between tenants in common...more

Gray Reed

Exculpatory Clause Does Not Save Operator From Liability

Gray Reed on

Non-operators under the 1989 Model Form JOA have been hoping to drive a stake through the dark heart of Reeder v. Wood County Energy, LLC. Bachtell Enterprises, LLC v. Ankor E&P Holdings Corp might be a start. The question...more

Stinson LLP

David Bengtson and Frank Basgall Discuss Habendum Clause and Production in Paying Quantities at KIOGA Conference

Stinson LLP on

The Wichita Bar Association's KIOGA conference is an annual oil and gas conference for lawyers, oil and gas producers, landmen and other participants in the oil and gas industry....more

Adams and Reese LLP

Redefining Willful Misconduct: Texas Appellate Court Announces a New, Lower Standard

Adams and Reese LLP on

In Apache Corp. v. Castex Offshore, Inc., the Texas Fourteenth District Court of Appeal announced that showing an oil-and-gas operator’s “willful misconduct” under an operating agreement’s exculpatory clause does not require...more

Gray Reed

Texas Court Evaluates Consent to Assign an Oil and Gas Lease

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In Mayo Found. For Med. Educ. & Research v. BP Am. Prod. Co. a United States District Court considered the circumstances under which a lessor can withhold its consent to assign an oil and gas lease....more

Gray Reed

My Operator is Making Money … Part 2, The Operator’s Response

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The threat: You, the operator, are operating unprofitable wells where monthly costs exceed or barely equal revenues, making money on the fixed COPAS overhead charges. Your non-operators are going into the economic hole and...more

Gray Reed

Louisiana Operator’s Bad Faith Does Not Preclude Recovery

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Under Louisiana law, does the operator’s bad faith preclude recovery for the non-operator’s breach of a joint operating agreement if the operator caused the non-operator to breach the JOA but did not itself breach?...more

Bracewell LLP

JOAs and the Operator's "blank cheque" – UK Court of Appeal upholds decision on budget overruns

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The UK Court of Appeal in Spirit Energy Resources Limited & Ors v Marathon Oil U.K. LLC [2019] EWCA Civ 11 has affirmed the February 2018 decision of Mr Justice Robin Knowles of the High Court. Knowles J’s decision concerned...more

Jackson Walker

Handling Your First (Or Next) Oil And Gas Case: Who Is The Client? Operative Documents, Necessary Parties, And Knowing Your Limits

Jackson Walker on

As part of TexasBarCLE’s “Handling Your First (or Next)” series, Jackson Walker partner Amy Osberg Roberts presented a discussion on “Who Is the Client? Operative Documents, Necessary Parties, and Knowing Your Limits” in oil...more

Gray Reed

Contract Operator Not Liable for Breach of a Unit Operating Agreement

Gray Reed on

It’s a tale as old as the oilfield: A non-operator doesn’t pay joint interest billings, operator sues, non-payer claims the expenses were unwarranted and the operator was negligent—no, grossly negligent—for incurring them in...more

Gray Reed

Hurricane Harvey and Oil and Gas Operations – What To Do

Gray Reed on

In light of the adverse effects the storm, floods and tornadoes will have on oil and gas production, transportation and processing operations, we offer several bits of advice: Force majeure - Winds and floods are among...more

Gray Reed

Your Louisiana Override – Where Does it Come From?

Gray Reed on

It’s a multiple choice question: a. The royalty interest reserved by the lessor. b. The drillbit, courtesy of fearless, risk-taking entrepreneurs, the backbone of the great American free enterprise system and the...more

Stinson - Benefits Notes Blog

Could your Oil and Gas Interest Cause You to Be Responsible for Multiemployer Plan Withdrawal Liability?

I noticed an interesting case from the Tenth Circuit which found that a two to three percent working interest in an oil and gas venture could generate self-employment income for the owner of that interest. The individual in...more

King & Spalding

Unitization: Specific Considerations for LNG Export Projects

King & Spalding on

Unitized Gas to LNG Export - A number of global LNG export projects – existing, under construction and planned – process (or will process) natural gas produced from unitized gas fields. Gas produced from unitized gas...more

Gray Reed

The Model Form JOA in Hard Times (and Farewell, Rally Possum)

Gray Reed on

Good morning class. Welcome to an advanced course on what can go wrong with the Model Form just when you need it. FIRST CASE - Do you know where to file your UCC financing statement?...more

Gray Reed

Operator Can’t Recover Drilling Costs For Affiliate’s Expensive Rig

Gray Reed on

In Elm Ridge Exploration Co., LLC v. Engle we are reminded of a little-used provision in the 1989 Model Form Operating Agreement. Article VI.D.1 allows the operator to use its own equipment, but his charges may not exceed...more

Baker Donelson

AAPL To Release New Operating Agreement Form

Baker Donelson on

The American Association of Professional Landmen (AAPL) anticipates the release of the newest Operating Agreement format specifically related to horizontal drilling. Beginning in 1956 the AAPL has promulgated a standard...more

BakerHostetler

AAPL To Issue Revised Form 610-1989 Model Form Operating Agreement To Address Horizontal Wells

BakerHostetler on

The American Association of Professional Landmen is expected to release a revised Form 610-1989 Model Form Operating Agreement within the next few days. It is our understanding that the revised Form will include language...more

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