News & Analysis as of

Oil & Gas Purchase Agreement

Gray Reed

Texas Landowner Enjoined from Interfering with Lessee’s Operations

Gray Reed on

Davenport v. EOG Resources, Inc. is an appeal of a temporary injunction. The title tells you the result. Davenport owned four tracts comprising 5,000 acres in Webb County that were originally part of a larger tract...more

Gray Reed

An Asset is an “Asset” Whether or Not BOEM Consents

Gray Reed on

The negotiators and scriveners of the purchase and sale agreement in Matter of PetroQuest Energy, Incorporated would have been well served to have considered all the potential ramifications, however remote, flowing from the...more

Gray Reed

Busted Land Transaction Violated the Statute of Frauds

Gray Reed on

In the Estate of Terry Banta presents yet another purported Texas land transaction doomed because of disregard for the Statute of Frauds. Terry Banta and the Herriotts entered into an oral agreement for the Herriotts to...more

Vinson & Elkins LLP

The Iraqi Federal Supreme Court in Case 59/Federal/2012 Rules that the Kurdistan Regional Government (KRG)’s 2007 Oil and Gas Law...

Vinson & Elkins LLP on

In 2007, the Kurdistan Regional Government (the “KRG”) enacted Oil and Gas Law No. 22 of 2007 (the “KRG Oil and Gas Law”). The Federal Government of Iraq (the “FGI”) had initially rejected the draft law, but the regional...more

Bennett Jones LLP

Ten Takeaways for Private M&A Sellers and Buyers in Canada from Recent Court Decision

Bennett Jones LLP on

A private M&A purchase agreement customarily includes extensive representations and warranties and indemnification provisions. Post-closing, if the buyer alleges a breach of those provisions claiming significant damages, and...more

McDermott Will & Emery

FTC Settlement Agreement Demonstrates Commissioners’ Competing Views on Merger Non-Competes

McDermott Will & Emery on

What Happened - • DTE and Enbridge’s natural gas pipeline joint venture, Nexus, agreed to purchase the Generation Pipeline (Generation). •Generation was owned by a group of sellers including North Coast Gas Transmission...more

Orrick - Antitrust Watch

Merger Non-Compete Clauses – Be Lawful or Be Gone

Non-compete clauses are commonly included in M&A agreements. Although generally recognized as lawful, non-competes must fulfill certain requirements to comply with antitrust and competition laws. A recent FTC enforcement...more

Lewitt Hackman

Franchisee 101: Over Supply of Gasoline Burns Potential Sale

Lewitt Hackman on

A gasoline franchisee defeated a motion to dismiss brought by its franchisor, seeking to avoid a claim under the federal Petroleum Marketing Practices Act (PMPA). In 2018, Global Companies (Global) sent the franchisee a...more

Opportune LLP

The First 100 Days

Opportune LLP on

In today’s world of technology and investment into best practices, it is surprising how unique each oil and gas asset transaction can be. Companies spend countless hours and investment into standardizing a process for...more

Gray Reed

A Twist in Oil Patch Arbitration

Gray Reed on

Would you trust your $12 million arbitration to accountants rather than lawyers? Sometimes it makes sense. In Order_Apache v. YPF SA, delegating an accounting dispute to accountants was right. The problem was in the...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Identifying and Addressing Environmental Issues in Petroleum Marketing Agreements (“Presentation”)

The Arkansas Oil Marketers Association Environmental Workshop was held on August 30th in Little Rock. I undertook a presentation titled: Identifying and Addressing Environmental Issues in Petroleum Marketing...more

Gray Reed

Texas Supreme Court Dabbles in Bankruptcy Law

Gray Reed on

Noble Energy Inc. v. ConocoPhillips Company, a 6-to-3 Texas Supreme Court decision, is a reminder of two things: How parties to a property transaction describe what’s being acquired and what’s being left behind can have...more

Jones Day

Japanese Report: LNG Sale and Purchase Agreement Destination Restrictions Likely Anticompetitive

Jones Day on

On June 28, 2017, the Japan Fair Trade Commission ("JFTC") published a report based on a survey conducted from July 2016 to May 2017 ("Report"), concluding that destination restrictions provided in liquefied natural gas...more

Orrick, Herrington & Sutcliffe LLP

Investing in China Key Challenges and Mitigation Strategy

In early 2005, a subsidiary of listed Hong Kong and China Gas Company Limited (0003.HK) bought a controlling stake in a Chinese joint venture company. Initial payments were made, but then the audited financial statements...more

Gray Reed

TXO v. Vela Remembered in a Gas Royalty Case

Gray Reed on

Westport Oil & Gas Company, L.P. v. Mecom et al. presented this question: Was the lease royalty based on a gas purchase agreement formula or on the royalty clauses’s market value at the well provision? Spoiler alert:...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

Gray Reed

Back to the Bulgarian Bad Guy, So Say the Justices

Gray Reed on

My blogging sensei Cordell Parvin says the title should always inform the reader of the content. Mea culpa on this one; I couldn’t resist the alliterations. Some time back I reported on Carlton Energy Group et al v....more

King & Spalding

The Top 10 Questions Facing the LNG Industry in 2016

King & Spalding on

Although continuing low oil prices affect the LNG industry in expected ways (e.g., delays and cancellations in the development of LNG export projects) and unexpected ways (e.g., take-overs between major players in an already...more

Jackson Walker

Selected Drafting Issues In Midstream Contracts

Jackson Walker on

I will share a small secret – or perhaps, it is not a secret at all. As CLE presentations go, “drafting tip” presentations tend to be very practical in their orientation and are, therefore, more enjoyable and less stressful...more

Perkins Coie

Texas Condensate to Be Exported Without Prior Approval, Testing Federal Limits

Perkins Coie on

On November 5, the Wall Street Journal reported that Australian-based BHP Billiton Ltd. would begin exports from the United States of lightly refined natural gas condensates produced in the United States. In contrast to...more

Gray Reed

Perils of “Other Provisions” in the Model Form JOA

Gray Reed on

Scriveners, when you add those “Other Provisions” in Article XVI of your model from JOA’s, are you sure that the document remains internally consistent, that no “Other Provision” conflicts with the form?...more

21 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide