Department of General Business

BLW 468 - Oil & Gas Law

College of Business, Stephen F. Austin State University

Note: This "standard" course syllabus is only a guide. Actual requirements for a particular course and section of this course are described in the course section syllabus, which should be obtained from the course instructor at the beginning of the respective semester. Requirements listed herein are subject to change without notice.

Course: BLW 468 – Oil & Gas Law

Catalog Description: Analysis of the legal principles involved in oil, gas and mineral ownership, title research, curative work, and leases.

PREREQUISITES: Junior Standing

COURSE OBJECTIVES: Upon completion of the course students should be able to:

1. Recognize various terms of the oil and gas industry, and their meanings, covered in the course and be able to apply or relate them to specific situations which may arise in the future.
2. Understand the legal principles behind the terminology of the oil and gas industry and apply them to problems that may arise in the future.
3. Understand the differences in meaning between certain Common Law real estate concepts and those contained in modern oil and gas documents and the usage thereof in the oil and gas industry.
4. Be able to recognize legal issues and legal problems within the framework of the oil and gas industry and determine which legal principle will apply.
5. Understand the functions of the various court systems dealing with oil and gas legal issues.
6. Be able to read and analyze an opinion of a court dealing with oil and/or gas issues and recognize the differences in interpretation thereof by the several courts
7. Be able to read and analyze a mineral deed and/or lease of mineral rights and fully understand themeanings of the various clasues therein, as well as the rights and liabilities created by those instruments of conveyance.

Topics/Components

1. Nature and Protection of Oil and Gas Rights
   1. How gas, oil and other minerals are formed
   2. Types of interests arising in the oil and gas industry
   3. Ownership of minerals rights
   4. Protection of ownership rights
2. Conveyance of Oil and Gas Rights
   1. Creation and transfer of rights or interests
   2. Joint ownership of rights or interests
   3. Interpretation problems of rights or interests
3. Detailed Workings of Oil and Gas Leases
   1. Essential modern clauses employed
   2. Savings clauses
   3. Royal clause
   4. Implied lease covenants
   5. Transfers of interests by use of lease
4. Taxation and Contractual Relationships in Oil and Gas Leases
5. Title Seaching Techniques (Using Nacogdochees County Records and "Hands-on" Field Trip)

Textbooks:
Lowe (1995). Oil and Gas Law in a Netshell. West Publishing Company.
Campbell, R. L. An Undergraduate Manual in Real Estate Concepts to be Used as a Preparatory Guide to the Study of Oil and Gas Law.

Evaluation:

There will be a minimum of eight (8) quizzes on the assigned reading material of the textbooks and four (4) tests of the text and lecture materials

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