What Attys Must Know About The Push For Texas Drilling Cuts

By Keith Goldberg (April 3, 2020, 11:07 AM EDT) -- The historic crash in oil prices due to coronavirus-depressed demand and a growing supply glut pushed a pair of Texas shale drillers to ask state regulators to do something they haven't done in nearly 50 years: curtail oil production.

It's a request that if granted by the Railroad Commission of Texas, could affect oil and gas contracts up and down the supply chain, from production leases and joint venture deals to marketing and pipeline agreements. Litigation over the ongoing viability of those contracts would be a given, Lone Star State lawyers say.

The last time the RRC ordered a proration of...

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