Litigation Issues in Area of Mutual Interest (AMI) Agreements

AMI AgreementsAn Area of Mutual Interest (AMI) Agreement is a contract between people or companies who want to jointly explore for oil and gas in a specific area during a given time. It is a common tool for sharing risks of development, along with the associated ownership and profits.

Unlike the standardized Joint Operating Agreement, though, AMI contracts tend to be handcrafted by the parties promoting the deal, and often have unintended flaws and consequences. If you’re an investor or operator who wants to put together an AMI Agreement, what do you watch out for? And what about buying an interest or properties that might be encumbered by an AMI Agreement? Will your due diligence reveal the significant issues associated with AMI obligations? Read more

Castañeda Firm Victory Ranked Among Top Texas Verdicts of 2016 

Dallas trial attorney Chrysta Castañeda and The Castañeda Firm have been recognized on Texas Lawyer’s list of the Top Texas Verdicts & Settlements of 2016 for the firm’s multimillion-dollar oil and gas verdict for legendary oilman T. Boone Pickens and his company, Mesa Petroleum Partners.

The state district court verdict in Mesa Petroleum Partners LP vs. Baytech LLP was the fifth-largest in Texas in 2016, according to Texas Lawyer, which ran the list in its September issue. Read more

Castañeda Firm Victory for Oilman T. Boone Pickens Ranked Among Top U.S. Verdicts

Pecos, Texas, jury awards over $145 million against Midland and Dallas oil companies 

DALLAS –  Dallas trial attorney Chrysta Castañeda and The Castañeda Firm are being recognized on The National Law Journal’s Top 100 Verdicts of 2016 list after winning a multimillion-dollar oil and gas verdict for legendary oilman T. Boone Pickens and his company, Mesa Petroleum Partners.

The state district court verdict against two Midland oil and gas companies and a Dallas-based operator ranked as the 12th highest in the country, according to the National Law Journal. Read more

Oil Prices are Falling: Get Ready for Litigation

Oil prices are falling and deals are getting scrapped.  As was the case with the last several business cycles, litigation will undoubtedly ensue.  The old-timers refer to this as “drilling at the courthouse.”  Here are five tips for preparing for possible litigation: Read more