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“I have a competition in me”
– Daniel Plainview

    Over the last several years, the use of “oil and gas royalty leases” has proliferated throughout the State of Texas. The goal is simple: purchase non-participating royalty interests from unsuspecting sellers at fire sale prices. But make no mistake, the so called “royalty lease” is a scam. Typically, scammers offer royalty owners an…

Copyright Sandia National Laboratories The increased activity in the Northern Delaware Basin has put New Mexico water law front and center in the development of oil and gas resources. New Mexico follows the doctrine of “prior appropriation” and “beneficial use,” which is rooted in the civil law of Spain, and its use of “acequias.” As…

Originally published in the Texas Bar Journal, Vol 82, No. 1, January 2019. 2018 saw continued litigation in familiar areas, including the characterization of royalty interests and the interpretation of retained acreage clauses. Additionally, developments in the use of surface resources (such as groundwater usage and sand mining) have increasingly become more prominent topics of…

A perfection of poodles! Copyright @thepoodlegang There is nothing quite like a collective noun. At once descriptive and evocative, collective nouns are fun to know and employ: a murder of crows and a school of fish easily come to mind. A collective noun refers to a collection of things taken as a whole and can be broken…

  The New Mexico Oil Conservation Commission held a hearing April 17, 2018 in case No. 15957 re: Application of the NM OCD to amend rules of the Commission concerning the drilling, spacing, and operation of horizontal wells and related matters. The purpose of the proposed changes is to bring New Mexico’s Administrative Code more…

Enduro Operating, LLC v. Echo Production, Inc., 413 P.3d 866, 2018-NMSC-016 (2/15/2018) In Enduro v. Echo, the New Mexico Supreme Court reinstated its permissive commencement of operations standard, overruling the Appellate Court’s attempt to narrow the definition from “any activity.” The Supreme Court concluded that “a party may prove that it has actually commenced drilling…

Get ready! March 26, 2018 marks the opening of trade of the new gold-backed, Yuan denominated Chinese oil futures contract. The contract will be traded on the Shanghai International Energy Exchange with similar sizing as the West Texas Intermediate contract traded on the NY-MEX: 1,000 barrels/lot; tic value equal to 0.1 Yuan per barrel, or…

Please revisit our articles regarding Contango vs. Backwardation HERE, the Price of Oil and the Commitment of Traders Report HERE, and the Price of Oil and the U.S. Dollar HERE, for background to this article.   The February 2018 West Texas Intermediate (CLG18) contract finished the year strong, closing Friday, December 29, 2017 at $60.42. This…