article thumbnail

Texas Supreme Court Holds that References to “One-Eighth” in Old Oil and Gas Conveyances Presumptively Refer to the Entire Mineral Estate

The Energy Law

According to the Court, the estate-misconception theory was so prevalent in instruments in and around 1924—the time of the deed at issue—that “courts have taken judicial notice of this widespread phenomenon.” Texas courts refer to this phenomenon as the “estate-misconception” theory. Dawkins , 483 S.W.3d

Royalty 98
article thumbnail

Louisiana’s Sabine River Authority Not Entitled To Sovereign Immunity

The Energy Law

Plaintiffs alleged that despite advance knowledge of the likelihood for significant downstream flooding, SRA-L decided to open spillway gates freeing water from the reservoir into the Sabine River to alleviate elevated reservoir volumes from a cataclysmic rain storm in March of 2016.

Casing 52
article thumbnail

Derivatives: ISDA Announces 2016 New York Law Variation Margin Credit Support Annex

The Energy Law

On April 14, 2016, the International Swaps and Derivatives Association, Inc. ISDA ) announced the 2016 ISDA Credit Support Annex for Variation Margin for use with New York law transactions (the 2016 CSA ). Parties to the 2016 CSA are able to negotiate collateral terms for variation margin in accordance with rules issued by U.S.