A contract must result from a meeting of the minds of the parties in mutual assent to the terms, must be based upon a sufficient consideration, free from fraud or undue influence, not against public policy and sufficiently definite to
Reasonableness of attorney’s fees is a question of fact and must be supported by competent evidence. The factors to be considered in determining the reasonableness of attorney’s fees include: (1) the time and labor involved; (2) the nature and complexities
Net revenue interest or “NRI” is a share of production after all burdens, such as royalty and overriding royalty interests, have been subtracted from the working interest. It is the percentage of production that each working interest party actually receives.
Fraud is an affirmative defense under rule 94 of the Texas Rules of Civil Procedure. Tex. R. Civ. P. 94. Unless established as a matter of law, the burden is on the party asserting fraud not only to plead the
A “carried interest” in an oil and gas lease is a fractional interest that is free of some or all costs of exploring, drilling, and completing the well.
The oil and gas working interest is the right to the mineral interest granted by an oil and gas lease, so called because the lessee acquires the right to work on the leased property, search, develop, and produce oil and
An oil and gas royalty is a share of the product or profit from real property, reserved by the grantor of a mineral lease in exchange for the lessee’s right to mine or drill on the land. Black’s Law Dictionary
That rule of capture gives a mineral rights owner title to the oil and gas produced from a lawful well bottomed on the property, even if the oil and gas flowed to the well from beneath another owner’s tract. The
Under Rule 166(a)(i), Texas Rules of Civil Procedure, after adequate time for discovery a no-evidence summary judgment motion may be urged on the ground that there is no evidence of one or more essential elements of a claim or defense
To establish the existence of a unilateral mistake, a party must show (1) the mistake was of so great consequence that to enforce the contract as made would be unconscionable; (2) the mistake relates to a material feature of the