Conrad Hester, left, is a partner and Alix Allison, right, is a senior associate with Alston & Bird. Courtesy photos Bad-Faith Washouts: Texas' Newest Cause of Action
Oil and gas operators should be sure to comply with the act and take caution in releasing leases subject to an overriding interest, particularly when they intend to take another lease on the same acreage.
August 29, 2023 at 11:23 AM
3 minute read
Energy
Before Sept. 1, the Texas Legislature had never imposed a duty on oil and gas operators to their overriding royalty interest owners when releasing their leases. In several decisions, Texas courts resisted placing a greater fiduciary duty on operators to their override owners. Thus, operators could "wash out" an override by releasing a lease and then leasing the same minerals without the overriding interest burden.
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