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Texas: Statutory Subordination of Mortgages

Texas House Bill 2207, effective January 1, 2016, statutorily subordinates certain real estate mortgages to oil and gas leases, introducing an interesting tweak to the long-standing and well-established "first in time, first in right" rule. However, this statute is not without its limitations. For example, it only applies...

Case Law Update: ConocoPhillips Must Release 15K Acres

Texas Case Law Update: On August 5, 2015, the San Antonio Court of Appeals released its opinion in ConocoPhillips Company v. Vaquillas Unproven Minerals, Ltd., (( No. 04-15-00066-CV (San Antonio – August 5, 2015). )) affirming the trial court’s order declaring ConocoPhillips breached two oil and gas leases in Webb County by...

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