A security interest, under Texas’ version of the Uniform Commercial Code (the “Texas UCC”), is an interest in personal property or fixtures which secures payment or performance of an obligation. Real property is not subject to the Texas UCC.
To many oil and gas lawyers the COPAS accounting procedure is sometimes an afterthought. But, in the context of JOA disputes, whether or not directly involving accounting issues, the COPAS procedure can have a critical impacts.
The United States Department of the Interior recently proposed a second offshore wind energy auction in the Gulf of Mexico after the first auction generated a high (and single) bid of $5.6 million.
When an operator or record title holder is required to decommission offshore assets, many assume that other and prior record title holders will pay their “fair share” of decommissioning costs.
Mediation has become an indispensable tool in Texas, allowing many lawsuits to be processed faster, more accurately and more economically. Over the last 25- years, the costs of litigation and the time to reach trial have increased exponentially.
For oil and gas operators, few things are more frustrating than discovering you may have been overpaying royalties to a person or entity in your paydeck.
