Conoco Asks Texas Justices To Apply Perpetuities Rule

Law360, Houston (December 5, 2017, 5:19 PM EST) -- Counsel for ConocoPhillips Co. and Burlington Resources Oil & Gas Co. LP told the Texas Supreme Court in oral arguments Tuesday that a lower appellate court “invented a legal fiction” when deciding an Eagle Ford Shale lease dispute and created uncertainty regarding legal title to the land.

ConocoPhillips appealed to the Texas Supreme Court in August 2016, arguing that the state's 13th Court of Appeals' May 2016 ruling adopted an interpretation of the Texas rule against perpetuities — which prohibits future property interests that could potentially...
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