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Articles 1 - 19 of 19
Full-Text Articles in Oil, Gas, and Mineral Law
Security Aspects Of The Abc Transaction, John T. Schmidt
Security Aspects Of The Abc Transaction, John T. Schmidt
Michigan Law Review
In recent years, investments in subterraneous oil and gas have become a common addition to the investment portfolios of national financial institutions. Relying on the assurances of reputable geological studies, traditionally conservative financers have invested amounts ranging up to several hundred million dollars against collateral once accepted only by speculators and a few adventurous oil-country bankers. The increased interest in these investments is in part attributable to the development of the ABC method of financing the purchase of producing oil and gas properties. This method offers unique tax advantages, which have been discussed elsewhere, but also creates problems for the …
Compulsory Oil And Gas Unitization: Effect On Overriding Royalty Obligations- A Hypothetical Judgement Of The High Court Of Juristic Review In Peter Fox Brewing Co. V. Sohio Petroleum Co., Maurice H. Merrill
Michigan Law Review
Jus, Chief Justice. As should be well known, our practice is to sit in review of decisions presenting elements of difficulty, and concerning the propriety of which there seems reason for doubt. We have no jurisdiction to reverse, to modify, or to affirm. Our judgment must be confined to approval or to disapprobation, or to some position between these two extremes.
The Rule Against Perpetuities And Typical Oil And Gas Leases, David R. Macdonald S.Ed.
The Rule Against Perpetuities And Typical Oil And Gas Leases, David R. Macdonald S.Ed.
Michigan Law Review
This comment is concerned with the examination of various methods of creating future interests in gas and oil and the effect of the rule against perpetuities on these interests.
Real Property-Notice-Recitals In Unrecorded Deeds In Chain Of Title, James S. Taylor
Real Property-Notice-Recitals In Unrecorded Deeds In Chain Of Title, James S. Taylor
Michigan Law Review
The plaintiff, Eiring, owner of all rights in a tract of land, attempted to convey certain mineral rights to Earnest by deed. The alleged rights passed from Earnest by subsequent mesne conveyances to McMillan, and, on the death of McMillan, to the defendant as trustee. Eiring brought an action against the defendant in statutory trespass to try title to the land. In the deed from Eiring to Earnest blank spaces were left in the granting clause. Held, the blank spaces rendered the deed void, and the deficiency was not cured by reference to another indefinite deed. After holding this, …
Real Property - General Mineral Reservation In Deed - Lack Of Knowledge That Substance Is A Mineral, G. B. Myers
Real Property - General Mineral Reservation In Deed - Lack Of Knowledge That Substance Is A Mineral, G. B. Myers
Michigan Law Review
In 1892 plaintiff's predecessor in title contracted to convey certain land to defendant, subject to a reservation of "all coal and mineral deposits in and upon said lands," and in 1896 he executed a deed to defendant containing the same reservation. Plaintiff, in 1947, filed a bill to quiet title to bauxite deposits on the land. Held, bill dismissed. Bauxite, not being generally regarded as a mineral at the time of conveyance, was not intended to be within the operation of the mineral reservation. Carson v. Missouri Pac. R. Co., 212 Ark. 963, 209 S.W. (2d) 97 (1948).
Future Interests-Rule Against Perpetuities--Validity Of An Option Incident To A Lease Exercisable After The Expiration Of The Lease, Irving Slifkin S.Ed.
Future Interests-Rule Against Perpetuities--Validity Of An Option Incident To A Lease Exercisable After The Expiration Of The Lease, Irving Slifkin S.Ed.
Michigan Law Review
On November 13, 1941, plaintiff entered into a lease with defendant granting defendant the exclusive right to mine and remove coal from plaintiff's mine for twenty years. Incident to the lease defendant was granted the option, "at any time subsequent to November 1st, 1945, to purchase the remaining tonnage of recoverable coal" at a specified price. A deed thereto was placed in escrow. In January, 1946, defendant elected to exercise the option, tendered the price, and received the deed from escrow. Plaintiff refused to recognize the validity of the option and commenced an action in equity to cancel the deed …
Taxation-Income Tax-Depletion-Lessor's Share In Net Income As Subject To Depletion, William H. Buchanan S.Ed.
Taxation-Income Tax-Depletion-Lessor's Share In Net Income As Subject To Depletion, William H. Buchanan S.Ed.
Michigan Law Review
Taxpayer which owned certain lands leased the same to companies for production of oil and other minerals for a cash bonus, a royalty in the usual form, and an agreement that lessor should receive a percentage of the net money profits realized by the lessees from their operation under the lease. Lessor claimed a right to deduct depletion allowance from the receipts which were a percentage of the net income arising from operating the properties. Held, lessor had a right to depletion deduction in respect to the percentage of net income because it had an "economic interest" in the …
Oil And Gas - Interpretation Of Lease Containing Royalty Provisions, Brooks F. Crabtree
Oil And Gas - Interpretation Of Lease Containing Royalty Provisions, Brooks F. Crabtree
Michigan Law Review
Several of the plaintiffs owned oil-producing land in Oklahoma and had leased it to one Briggs. The lease ran for a fixed term and "so long thereafter as oil or gas may be produced therefrom by the lessee." It provided for a royalty payment to the lessor of one-eighth of the oil or gas produced, and gave the lessee the right "at any time" to remove all machinery and equipment placed on the premises, including the right to draw and remove the casing. Briggs sold the equipment thereon to defendant and later sold the lease itself to one of the …
Principal And Surety - Discharge Of Surety For A Lessee By Assignment Of The Lease, H. Martin Peckover
Principal And Surety - Discharge Of Surety For A Lessee By Assignment Of The Lease, H. Martin Peckover
Michigan Law Review
Lands set aside by statute as common property of the Chickasaw and Choctaw Indian tribes were, pursuant to an act of Congress, leased to one Gunther by mining trustees of the tribes. The lease contained covenants to pay "stipulated annual advance royalties," and also provided that no assignment should be made without the consent of the trustees "subject to the approval of the Secretary of the Interior." Defendant surety company executed a bond for the faithful performance of the terms of the lease, and the same was duly approved. Then Gunther, with the consent of the trustees, but not the …
Deeds - Construction - Effect Of Words Showing Purpose Of Grant, Michigan Law Review
Deeds - Construction - Effect Of Words Showing Purpose Of Grant, Michigan Law Review
Michigan Law Review
Plaintiff sought to enjoin defendants from drilling for oil and gas on a strip of land which defendants claimed through a "right of way deed" conveying and warranting the strip to a railroad company "as and for its right of way'' and describing the land as "across and upon" a certain quarter-section. The deed recited as consideration $250 and the benefits accruing to the grantor through the construction and operation of a railroad on the land. Tracks were never laid on the strip, but the railroad company continued to pay taxes thereon. Held, that under Illinois law a fee …
Railroads -- Extent Of Title Acquired By Railroad By Adverse Possession Of Land Used As Right-Of-Way - Effect On Mineral Rights, Roy L. Rogers
Railroads -- Extent Of Title Acquired By Railroad By Adverse Possession Of Land Used As Right-Of-Way - Effect On Mineral Rights, Roy L. Rogers
Michigan Law Review
In a recent Michigan case it appeared that for more than the statutory period of limitation the plaintiff railroad had maintained a right-of-way over land to which the defendant held the record title. A decree quieting title in fee simple absolute in the plaintiff railroad was sought in order to determine the ownership of the oil and gas underlying the right-of-way. The court held that the railroad acquired by adverse user of the right-of-way no title to the oil and gas or other minerals beneath the surface of the land.
Measures Of Land Value For Utility Regulation, Lrston R. Barnes
Measures Of Land Value For Utility Regulation, Lrston R. Barnes
Michigan Law Review
The appraisal of the land of utility corporations presents problems that are not encountered in the valuation of other utility properties. The basic principles and methods of appraisal applicable to other properties are considered inappropriate for the valuation of lands, and certain inconsistencies between the treatment of land and other properties suggest embarrassing questions as to the principles which should guide the regulation of utility rates. Two concrete problems may serve to provide orientation for the discussion which follows: What elements of cost imposed on utilities in the acquisition of real estate are entitled to consideration in establishing rates? To …
Adverse Possession - Severance Of Minerals And Surface - Adverse Possession As Affecting Title To The Minerals, John M. Ulman
Adverse Possession - Severance Of Minerals And Surface - Adverse Possession As Affecting Title To The Minerals, John M. Ulman
Michigan Law Review
The land in question was set aside by the state for school purposes. For some time prior to 1881 one Bailey had been in possession. At that time he and his children, to whom he had deeded parts of the land, conveyed the mineral interests to a grantee from whom plaintiff claims. At the time of the conveyance the evidence was insufficient to show title by adverse possession in Bailey. Bailey and his grantees, from whom defendant claims, remained in possession until this action was brought. The limitation ceased running against the state by an act of the legislature at …
Covenants - Effect Of Change Of Conditions On Equitable Restrictions, Dan K. Cook
Covenants - Effect Of Change Of Conditions On Equitable Restrictions, Dan K. Cook
Michigan Law Review
Plaintiff was a lot owner in a residential district consisting of twenty-three blocks. Each lot in the district was subject to a restriction, imposed by the grantor, which limited the use of the lots to residence purposes. Subsequent to the imposition of this restriction, numerous oil and gas wells had been drilled in the territory surrounding the district, so that the lots in the district had depreciated in value approximately thirty-five to fifty per cent. By ordinance, the use zoning area which included the district had been changed from a residence use to an oil and gas use. At the …
Contracts - Moral Obligation As Consideration - Promise To Pay For Benefits Previously Received, Michigan Law Review
Contracts - Moral Obligation As Consideration - Promise To Pay For Benefits Previously Received, Michigan Law Review
Michigan Law Review
Plaintiffs, assignees of an oil lease of land, after drilling a dry hole thereon, did not comply with the requirements of their agreement for further development within a stipulated time, in consequence of which there was a formal termination in accordance with the terms of the assignment. An extension of the lease, which the lessees obtained, was assigned to the defendants, who had knowledge of the foregoing circumstances and plaintiffs' claim of a property right in the dry hole. Defendants promised to pay plaintiffs for the use of the dry hole, but subsequently repudiated any liability on the promise. Held …
Eminent Domain-Validity Of State Statute
Eminent Domain-Validity Of State Statute
Michigan Law Review
As upon certiorari, the New Mexico Supreme Court considered the question, whether it is "within legislative competence to declare a public use in the industry of coal mining, so as to permit taking private property in aid of it." Plaintiff had obtained a judgment of condemnation, and defendant attacked it as offensive to the New Mexico constitutional provision: "Private property shall not be taken or damaged for public use without just compensation." The opinion recognized the existence of an "orthodox" and a "liberal" doctrine of construing "public use." While the court found that, unlike Nevada's or Utah's, New Mexico's well-being …
Railroads-Right To Drill For Oil Or Gas On Right Of Way
Railroads-Right To Drill For Oil Or Gas On Right Of Way
Michigan Law Review
A railroad had acquired a one-hundred-foot strip of land through a farm, the deed describing the land granted by metes and bounds, and "for railroad purposes only." For fifty years the defendant has continuously used the strip for railroad purposes. The plaintiff, who became owner of the farm and successor to whatever rights in the strip remained to his grantor, sought to enjoin the defendant from drilling for oil and gas in the strip. Held, that the railroad had purchased a fee simple absolute in the strip and was therefore entitled to develop its own minerals. Quinn v. Pere …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Carriers of Passengers - Duty to Stop at Station to Permit Passenger to Alight-Contributory Negligence of Passenger Plaintiff's intestate was riding in the front end of a crowded vestibule car in the coach next to the tender of the eengine. When the train stopped at his station he tried to leave by the front end, but found the door from the vestibule closed. As he did not know how to open it, or was unwilling to be carried by his station, he stepped from his platform to the bumper of the tender and tried to follow it to the side …
Recent Important Decisions, Michigan Law Review
Recent Important Decisions, Michigan Law Review
Michigan Law Review
Attorney and Client--Application for License--Power of Court; Bills and Notes--Accommodation Maker--Evidence Excluded to Change Liability; Carriers--Conclusiveness of Ticket Between Conductor and Passenger; Constitutional Law--Police Power--Equal Protection of Laws--"Public Dancing Academy"; Copyrights--Infringement--Musical Composition; Damages--Breach of Contract; Damages--Excessive; Deeds--Grantee a Deceased Person; Divorce--Enforcement of Order Allowing Alimony Pendente Lite; Equity--Injunction--Right of a Fraternal Order to Prevent Infringement of Its Name; Equity--Specific Performance--Contract Not Enforceable as a Whole; Evidence--Limitation of Number of Witnesses--When Reversible Error; Executors and Administrators--Liability for Funeral Expenses; Gas Companies--Right to Withdraw from Municipality; Husband and Wife--Community or Separate Property--Presumption; Husband and Wife--right to Separate Maintenance--Consideration; Landlord and Tenant--Breach of …