Calling Dibs! Oil and Gas Security Interests and Texas’ Unique First Purchaser Statute
Producer's Edge
DECEMBER 3, 2024
Instead, the property laws of Texas govern perfection. This is particularly important in the event of the first purchaser's bankruptcy. Oil, gas, and other minerals that have not been extracted from the ground are treated as real property, to which the Texas UCC does not apply. But what about perfection?
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