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January 2 -15, 2013
Colorado Real Estate Journal, January 2 -15, 2013
4/16/2014
Author(s) - Brad Brooks-Rubin
Holland & Hart News Update
In a much-anticipated ruling, the U.S. Court of Appeals for the D.C. Circuit ruled on April 14, in National Ass'n of Manufacturers v. Securities & Exchange Commission (No. 13-5252, D.C. Cir., Apr. 14, 2014), that the requirement imposed on companies to report in certain circumstances to the Securities and Exchange Commission (SEC) and on their public websites that their products have "not been found to be 'DRC Conflict-Free'" is a violation of the First Amendment. The court did not determine whether this violation stemmed directly from Section 1502 of the Dodd-Frank financial reform legislation or the SEC's implementing regulations, so it remanded the case back to the district court for further proceedings.
4/10/2014
Author(s) - David Hatch
Holland & Hart News Update
A common but often overlooked oil and gas lease provision is the "continuous drilling" or "continuous operations" provision. Generally, a continuous drilling provision allows a temporary cessation of production without automatically resulting in the termination of an oil and gas lease that has been extended by production. In order to qualify for the temporary cessation, certain operations (as defined in the lease or by case law) must be commenced on the leased premises or lands pooled or unitized therewith within a specified time period (typically from 30 to 120 days).
4/10/2014
Author(s) - Adrian Miller
Holland & Hart News Update
In Montana, there are many older oil and gas leases held by production, particularly in eastern Montana. These leases often times cover several tracts of land and do not contain a Pugh Clause. Although one or more of the tracts of the lease may be part of a producing unit, other tracts are not. Because there is no Pugh Clause in the lease, there is no explicit contractual right to a release of the nonproducing tracts. Given the recent development of the Bakken, the fact that a mineral owner may have nonproducing tracts of land held by an older lease with unfavorable royalty provisions is an undesirable situation for the owner. Mineral owners are, therefore, turning towards common law and unique mechanisms under Montana law to gain releases of these lands.
4/4/2014