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Louisiana First Circuit Applies Subsequent Purchaser Doctrine to Property Transfer Involving Closely Held LLC

The Energy Law

In 2009, several of the Bailey family members formed New 90, LLC to manage this and other family-owned property. After creating New 90, the individual Bailey family owners of the property executed an Act of Transfer on March 20, 2009 that transferred their interests in the property to New 90 in exchange for membership interests in the LLC.

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Louisiana Second Circuit Provides Clarity on Production in Paying Quantities and Affirms Lease Cancellation Under Mineral Code Article 140 for Failure to Pay Royalties

The Energy Law

6] On September 1, 2009, Gloria’s Ranch executed a top lease to Chesapeake on the property in Section 21. [7] 7] In November of 2009, Tauren assigned the deep rights (all depths below the base of the Cotton Valley formation) to EXCO USA Asset, Inc. for the 18 month period prior to Gloria’s Ranch’s letter in December of 2009. [19]

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Louisiana Second Circuit Finds Holder of Mortgage Encumbering a Mineral Lease Solidarily Liable with Mineral Lessees for Damages Under the Louisiana Mineral Code

The Energy Law

Cubic”) In October 2009, Tauren assigned its 51% interest in the Lease as to all depths below the Cotton Valley formation to EXCO USA Asset, Inc. Additionally, on November 9, 2009, Cubic assigned to Tauren an overriding royalty interest in the deep rights of its 49% interest in the lease.

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Louisiana Second Circuit Addresses: (1) Creation of Mineral Servitudes Via Notarial Acts of Correction; (2) Obstacles Suspending the Prescription of Nonuse from Running Against Mineral Servitudes; and (3) Payment of Court Costs in Concursus Actions

The Energy Law

14] The Second Circuit’s decision in regard to this issue does not represent a departure from the viewpoint that most in the oil and gas industry have towards notarial acts of correction. University of Georgia, 2009. However, art. Associate, Liskow & Lewis, B.A., Hebert Law Center, Louisiana State University, 2012.

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