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Tulsa sits at the heart of Oklahoma’s energy economy, which means mineral owners often field lease proposals from exploration companies. A well-structured contract preserves the property’s long-term value while delivering fair compensation. Royalty math and bonus...
Contracts form the foundation of most business dealings. If someone accuses you of breaching a contract, that doesn’t automatically make you wrong. You might have legitimate reasons for not fulfilling the agreement. By understanding these defenses, you can respond...
An oil and gas lease can prove to be quite lucrative. Yet, the success of one of these leases for a property owner like you will depend not only on the terms of the agreement, but also on your ability to enforce it. All too often oil and gas companies skirt their...
Owning land in the Sooner State can come with more than just surface rights—it might also include valuable mineral rights. When you own land, you might own just the surface or the surface as well as the minerals beneath. Sometimes, one party may own the surface rights...
Starting a business in Oklahoma involves many decisions, including whether your LLC needs an operating agreement. While Oklahoma does not legally require this document, having one can provide significant advantages for your business. Is an operating agreement legally...
Fracking has become a significant method for extracting oil and gas, particularly in states like Texas and Oklahoma. However, with growing environmental concerns, managing wastewater from fracking is more important than ever. Violating state laws regarding the...
Starting and running a business can be a thrilling experience with many opportunities, but it's not all fun and games. There are also risks involved, including the possibility of facing lawsuits. To mitigate these risks, entrepreneurs need a proactive approach. Here’s...
Take-or-pay clauses are quite common in the oil and gas industry, particularly in supply agreements. Essentially, these provisions help sellers create a guaranteed minimum revenue stream. On the other hand, buyers can ensure a secure supply of energy and, in most...
The oil and gas industry in Oklahoma is a major contributor to the state's economy, with well operators playing a crucial role in it. Negotiating contracts is a critical aspect of their business as it sets the terms of their operations. Thus, it is essential for well...
For many entrepreneurs, running a business comes with costly conflicts and misunderstandings. Addressing these disputes can be challenging, especially without legal help. However, you can take proactive steps to minimize the risk of disputes. Let's explore some...