As a result of plunging oil prices, unstable markets have led to an uptick in litigation. Reagan Marble discusses what that means for contracting parties in the oil and gas industry as they get creative in enforcing and invalidating contracts to protect their individual positions.
The music is by Eve Searls.
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Crude awakening: Oil patch lawsuits shift into high gear »
Oil patch lawsuits between landowners and producers ramp up with clockwork predictability when the price of West Texas Intermediate dramatically sinks. But when the price of crude crashed into the negative range on April 20, oil and gas litigation took an especially sharp turn. Now, oil and gas companies are trying to save themselves as landowners try to protect their royalty income. (A subscription may be required to view)
Oil companies prepare to defend drilling rights — or rights not to — in court »
As oil companies encounter lawsuits from mineral rights holders, Reagan Marble spoke with the San Antonio Business Journal about the unusual defense that shut-in wells were out of the hands of the oil companies. In the article, Reagan notes: “Instead of your run-of-the-mill production and paid quantity disputes, you are seeing some really creative ways that operators are seeking to either permanently deter or temporarily deter their obligations in a lease. And the first one we have seen that has been fairly prominent are fights over force majeure clauses in oil and gas leases.” (Subscription required)