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Deals and More Deals as Mexico Finally Opens
International and Mexican law firms are riding a wave of new deals as Mexico moves ahead with bold plans to open its national energy sector to foreign and private investment for the first time in 76 years.Beck Redden Reins in 'Gotcha' Theory
In 2014, Beck Redden defeated a citizens' suit seeking $642 million in civil penalties from ExxonMobil for admitted unauthorized emissions and deviations from its clean air operating permits. Beck Redden attorneys convinced the Texas Supreme Court to find enforceable choice of law provisions allowing forfeiture in the corporation's executive bonus-compensation incentive programs.Bids on Mexican Shallow-Water Blocks Approved
ExxonMobil Corporation and Hunt Oil Company, a subsidiary of Hunt Consolidated Inc., are among the 19 U.S. companies and seven groups approved by Mexico to bid on 14 shallow-water exploration blocks off the mainland in the Gulf of Mexico. Thirty-four companies applied to prequalify for the July 15 auction.Oil and Gas Leases Signed Only by Lessors Still Enforceable
It is common practice in the oil and gas industry for only the lessor to sign an oil and gas lease. This practice has led to disputes in Pennsylvania regarding whether a lease signed by the lessor alone is valid under the Pennsylvania Landlord and Tenant Act's statute of frauds.Trending Stories
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