Co-author Chance Decker
Is an overriding royalty interest lasting beyond the term of a lease-now-in-effect impossible to create? You saw the recent Texas Supreme Court opinion invalidating an anti-washout clause in TRO-X v. Anadarko Petroleum Corp. Now, you see Tommy Yowell et al v. Granite Operating Company et al. In light of these opinions one could wonder if an override is as valuable a tool in an oil and gas trade as it used to be.
An assault on overrides?
Continue Reading Anti-Washout Clause Defeated by the Rule Against Perpetuities