Petro-Hunt L.L.C. vs. Wapiti Energy L.L.C. causes one to think about the effect of a gas imbalances on a producing property acquisition and the importance of so-called “boilerplate” in the purchase agreement. It is also the saga of a bad day at the plate for the seller. Let’s say I sold you an interest in gas… Continue Reading
Category Archives: Purchase and Sale Agreements
Subscribe to Purchase and Sale Agreements RSS FeedMore Title Work Needed? The PSA is Still Enforceable
Posted in Purchase and Sale AgreementsMaybe you’ve been there. All signals are “go” for closing on your PSA. Then the buyer chooses not to complete the transaction. What to do? A question your lawyer will think about when asked to enforce a purchase and sale agreement: Does it describe the property well enough to comply with the statute of frauds? Preston Exploration… Continue Reading