When a single day can mean the difference between $180 million in damages or nothing at all, you know you're dealing with a fascinating legal case. In this video, I break down the Texas Supreme Court's recent decision in Apache v. Apollo, where the Court grappled with seemingly simple questions that had massive implications:
- How do Texas courts measure contractual time periods?
- Would an annual period end on December 31 or January 1?
- What happens when defined terms in a deal create unintended ambiguity?
- How should courts interpret back-in rights and reassignment obligations?
These weren't just academic questions in this latest case – they were real issues that lead to significant ramifications in terms of potential damages.
In this video, I break down the Court's analysis and its practical implications for drafting and interpreting oil and gas agreements. Whether you're structuring deals or litigating disputes, this case offers crucial guidance on avoiding the kinds of drafting pitfalls that all too often lead to costly uncertainty.