CASE LAW UPDATE: CONOCOPHILLIPS MUST RELEASE 15K ACRES

CASE LAW UPDATE: CONOCOPHILLIPS MUST RELEASE 15K ACRES

BY: Austin Brister from OilandGasLawDigest.com

Texas Case Law Update: On August 5, 2015, the San Antonio Court of Appeals released its opinion inConocoPhillips Company v. Vaquillas Unproven Minerals, Ltd., [1] affirming the trial court’s order declaring ConocoPhillips breached two oil and gas leases in Webb County by failing to release all acreage in excess of 40 acres for each producing and shut-in natural gas well capable of producing in paying quantities. As a result, ConocoPhillips was ordered to release an additional 15,351 acres. The issue on appeal was whether the retained acreage clauses allowed ConocoPhillips to retain 40 acres per gas well or 640 acres per gas well.

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