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Year: 2023

What is the rule of capture for oil and gas?

As a property owner, or someone looking to extract resources, you need to be clear about people’s rights. While this can be complex for resources such as gold or coal which are static, it can be even more complex when the resource concerned can move, such as in the...

The terms of your commercial lease matter

It can be difficult to locate a commercial property that suits the needs of your business and fits with your operational goals. Once you locate a storefront or building that you believe would be ideal for your Oklahoma company, you will likely be asked to sign a...

What is a farmout agreement?

The oil and gas industry is highly competitive. Yet sometimes it is best to work with a competitor, rather than against them. Working together may mean that you can extract oil or gas that neither of you could do alone. Companies use farmout agreements when one party...

How to prevent shareholder disputes 

Your company's shareholders may not be involved in the day-to-day operations, but they are an integral part of the business. They can vote on certain corporate actions and can elect directors. Further, they have the right to directly influence the company's...

The importance of pausing in a contract dispute

If you are in business for long enough, there will likely come a time when you disagree with someone over a contract. Either you feel they have breached their obligations to you, or they accuse you of failing to meet your obligations to them. Sometimes litigation is...

Navigating the decision to sell your mineral rights

When you own mineral rights in Oklahoma, you have the option to either sell or lease those rights to oil companies or investors. Leasing is a common choice, but some may sell their rights instead. If you decide to sell, it's crucial to consider the various factors...

Do you own the minerals found under your property?

Oklahoma boasts a rich Native American history, diverse landscape and abundant natural resources. With all 77 counties in the state producing minerals, property owners may find that they own more than just a piece of land if valuable resources are beneath it. However,...

3 types of ownership interest for oil and gas properties

The oil and gas industry has multiple ways to account for properties used for various purposes. Defining their ownership interests is crucial, especially for taxpayers who could own numerous types of interests for one plot of land. These details could affect the...

Property ownership does not automatically grant mineral rights

Property rights can belong to two different parties, especially in resource-rich states like Oklahoma and Texas, where gas and oil play a crucial role in the economy. A property owner might only have surface rights, which is the right to access and use the land to...

Is litigation the best option for a contract breach?

Every company relies upon contracts to state the terms of agreements with partners, customers, vendors and others involved. Valid contracts involve deadlines, costs, goods and services provided, and what happens if one party doesn't meet the terms of the agreement....

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