The Energy Law
OCTOBER 11, 2021
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.
The Energy Law
JUNE 12, 2017
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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The Energy Law
MAY 26, 2023
38:2325(B) which states that it holds property “as an instrumentality of the State of Louisiana[;]” the Fifth Circuit pointed out that the statute also states “[t]itle to all property acquired by the Authority shall be taken in its corporate name.” La. 2009) (citing McCarthy ex rel. Caremark, Inc., 3d 655, 658 (5th Cir. 4 (5th Cir.
The Energy Law
JUNE 12, 2017
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.
The Energy Law
MARCH 30, 2017
Nonetheless, it does serve as a reminder that when a party recognizes an omission or mistake in an instrument affecting mineral rights, a party should not immediately opt for an easy fix via a notarial act of correction. University of Georgia, 2009. Associate, Liskow & Lewis, B.A.,
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