The Permian is a hotbed of deal activity, with the Dallas Morning News declaring that an “arms race” is breaking out to acquire the best acreage positions.
But what are purchasers really buying? Does the due diligence process move too fast (or not at all, making it an empty exercise)? Do purchasers really know that their title is good? Are they unknowingly wasting their money, only to discover that they have done so decades after the investment is made and the profits are owed to the true owner?
The Texas Supreme Court has now strongly moved to put the risk of title loss on the oil and gas interest purchaser or lessee, holding that a purchaser/lessee was not even entitled to a trial on the question of whether it had reasonably relied on the lessor’s own admitted misrepresentations about its title.
In an opinion delivered March 23, the court upheld the dismissal as a matter of law of the purchaser’s claims arising from title failure. In so doing, the court upended the rule that a seller always remains liable for its own fraudulent statements, instead placing the risk on sophisticated buyers. Read more
National Law Journal Names Chrysta Castañeda to 2018 Elite Trial Lawyers List
/in Awards and Recognition /by The Castaneda FirmChrysta Castañeda has been awarded The National Law Journal’s Elite Trial Lawyers Award for 2018.
The Elite Trial Lawyers award recognizes exemplary performance in the courtroom, according to NLJ. The publication’s editors and reporters reviewed about 300 submissions across 23 categories to select the winners. Ms. Castañeda’s profile is available here (subscription required).
One of Ms. Castañeda’s most notable recent victories was a $146 million verdict on behalf of T. Boone Pickens and Mesa Petroleum, which was recognized as one of the largest in the nation in 2016 by NLJ and one of the largest in Texas by Texas Lawyer.
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New Courts: New Legal Landscape?
/in Trial Strategy /by Chrysta CastañedaWhat impact could this have for businesses involved in litigation? Among other things, court watchers expect the following: Read more
Texas Super Lawyers Recognizes Chrysta Castañeda on 2018 List of Outstanding Lawyers
/in Awards and Recognition /by The Castaneda FirmChrysta Castañeda
Congratulations to Chrysta Castañeda for being selected to the 2018 Texas Super Lawyers list of outstanding Texas attorneys.
Ms. Castañeda, the founding partner of The Castañeda Firm, focuses on oil and gas litigation in the upstream sector, as well as commercial litigation and products liability disputes involving technical evidence. A former engineer, she frequently represents operators, working interest owners, mineral owners and investors on contract and operational questions. She has also served as national coordinating counsel for products manufacturers in products liability and toxic tort claims. Read more
How to Beat the Pros in Court
/in Trial Strategy /by Chrysta CastañedaWhile experience and expertise cannot be bought, information is free. Here are a few free tips to help the less experienced or less-connected attorney out-do the opposition in a courtroom battle. Read more
National Law Journal Names Chrysta Castañeda a Finalist for Elite Trial Lawyers Honor
/in Awards and Recognition /by The Castaneda FirmChrysta Castañeda
Chrysta Castañeda has been named a finalist for The National Law Journal’s inaugural list of Elite Women of the Plaintiffs Bar award.
Other finalists are:
The final winners will be announced at the Elite Trial Lawyers event on Oct. 5, 2018, at the Bellagio Hotel in Las Vegas. Read more
Kirkland Partner’s $11M Salary = Big Win for Women
/in Commercial Litigation /by Chrysta CastañedaThe New York Times broke the news recently that a woman commercial litigator had achieved a stratospheric salary guarantee with one of the largest law firms in the world. By moving from Cravath, Swaine & Moore to Kirkland & Ellis, Sandra Goldstein has reportedly secured an $11 million annual salary guaranteed for five years. Read more
Does Your Lawyer Treat You Well?
/in Legal Ethics /by Chrysta CastañedaWith that in mind, I decided to write this blog post to raise clients’ expectations of what they should be getting from their lawyers, both in terms of service and communication.
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Chrysta Castañeda Named to D Magazine ‘Best Lawyers in Dallas’
/in Awards and Recognition /by The Castaneda FirmChrysta Castañeda
Ms. Castañeda, the founding partner of The Castañeda Firm, focuses on oil and gas litigation in the upstream sector, as well as commercial litigation and products liability disputes involving technical evidence. A former engineer, she frequently represents operators, working interest owners, mineral owners and investors on contract and operational questions. She also has served as national coordinating counsel for products manufacturers in products liability and toxic tort claims. Read more
Caveat Emptor: Texas Supreme Court Puts Greater Due Diligence Burden on the Backs of Oil & Gas Asset Buyers
/in Oil & Gas/Energy Litigation /by Chrysta CastañedaBut what are purchasers really buying? Does the due diligence process move too fast (or not at all, making it an empty exercise)? Do purchasers really know that their title is good? Are they unknowingly wasting their money, only to discover that they have done so decades after the investment is made and the profits are owed to the true owner?
The Texas Supreme Court has now strongly moved to put the risk of title loss on the oil and gas interest purchaser or lessee, holding that a purchaser/lessee was not even entitled to a trial on the question of whether it had reasonably relied on the lessor’s own admitted misrepresentations about its title.
In an opinion delivered March 23, the court upheld the dismissal as a matter of law of the purchaser’s claims arising from title failure. In so doing, the court upended the rule that a seller always remains liable for its own fraudulent statements, instead placing the risk on sophisticated buyers. Read more
Former Texas Supreme Court Justice Craig Enoch’s New Trial Tip – plus more!
/in Trial Strategy /by Chrysta CastañedaFormer Texas Supreme Court Justice Craig Enoch
I was honored to have had the opportunity to work with former Texas Supreme Court Justice Craig Enoch recently on the Mesa Petroleum Partners case, which resulted in a $117 million judgment plus interest for our client, T. Boone Pickens.
I sat down with Justice Enoch to ask about his insights into trial and appellate practice based on his decades of experience as a trial judge, court of appeals chief justice, and Supreme Court justice – as well as an advocate at his own law firm. Not only did he share inside knowledge about how judges view cases, he gave me a tip about new trial motions that not many trial lawyers know. Read more