Gray Reed & McGraw LLP

Gray Reed & McGraw is a Texas-based, full-service law firm with over 120 lawyers in Dallas and Houston. Since 1985, our firm philosophy has been to provide high-quality legal services in a streamlined manner, to provide sophisticated and complex legal advice that is reasonably priced, and to provide big-firm results with small-firm efficiency. For 30 years, we have dedicated ourselves to achieving success for our clients, as they define success – whether that is winning a critical lawsuit, closing a key deal, consulting to save taxes, or just giving good business advice to avoid disputes.

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Latest from Gray Reed & McGraw LLP

Energy & the Law

Texas Legislature to Consider Oil and Gas Lien Law Amendment

By Charles Sartain

April 19, 2021

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Co-author Brittany Blakey Texas lien law in some cases does not require the filing of a financing statement for priority perfection. However, as you might have learned in In re First River Energy, the Delaware Uniform Commercial Code did not recognize the priority of Texas producers’ unfiled, unperfected security interests in proceeds under Texas Business and Commerce Code Section 9.343. In contrast, Oklahoma Producers prevailed because the Oklahoma Lien Act in 2010 cured a defect…

Energy & the Law

What are “Drilling Operations”?

By Charles Sartain

April 15, 2021

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Co-author Rusty Tucker As Humpty Dumpty would have said to Alice if he were Justice Dumpty of the Texas Supreme Court, the term means whatever the parties to an oil and gas lease say it means, neither more nor less. In Sundown Energy LP, et al. v. HJSA No. 3, Ltd. P’ship the term “drilling operations” meant that activities other than spudding-in new wells were sufficient to satisfy a continuous operations clause. The lease…

Texas Construction Law Blog

Excusable Delay and Builder’s Risk: A Reminder to Weatherproof Your Contracts

By Tim Fandrey

April 13, 2021

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The winter storm that brought snow, freezing temperatures, power outages, frozen water lines and bursting pipes to Texas, shutting down most construction projects in the process, forced many contractors and owners to take a look that their contracts to determine who is responsible for the ensuing delays and the costs to repair any damage.…

Energy & the Law

Well Operator Protected by the Model Form JOA

By Charles Sartain

April 13, 2021

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Co-author Rusty Tucker What is the standard of care imposed by the Model Form JOA on the well operator? Crimson Exploration Op., Inc. v. BPX Op. Co. gives us the answer, and it is no surprise. Background Under a Model Form JOA, BPX as operator and Crimson and other non-operators drilled the McCarn A1H well. After a problem that prevented further drilling the parties agreed to plug and abandon the well. BPX billed Crimson…

Texas Tax Talk

Is Your Partnership IRS Audit Ready?

By Joshua Smeltzer

April 12, 2021

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“Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” ― Abraham Lincoln The Bipartisan Budget Act (BBA) was signed into law by President Barack Obama in 2015 and fundamentally changed the way partnerships are audited. Under the BBA, the IRS generally assesses and collects any understatement of tax (called an imputed underpayment) at the partnership level. The new rules were applicable to all entities starting…

Energy & the Law

Climate Change for Energy Professionals – Part 3

By Charles Sartain

April 8, 2021

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In his third installment on the climate change debate, Gray Reed energy partner Paul Yale discusses the assertions of Bjorn Lomborg in his book False Alarm: Lomborg relies on two major sources: Reports from the UN Intergovernmental Panel on Climate Change and the US Government’s National Climate Assessment. He says their forecasts about temperatures at the end of the 21st century assume nothing will be done to mitigate CO2 increases. Emissions are declining in the developed…

Tilting the Scales

Texas Community Property Law and How to Plan Around it

By Cleve Clinton

April 6, 2021

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Co-author: Kevin Davidson Jack Bux and his high school sweetheart, Diane, have been married a few years, but the pandemic has taken its toll on their relationship, and they could soon be parting ways. Going into the marriage, Jack had a number of property interests – a home with a mortgage, a retirement account and a small part of the family business – and now he’s concerned that Diane will be able to walk away…

Energy & the Law

Texas Supreme Court Weighs in on Post-Production Costs

By Charles Sartain

April 6, 2021

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Co-author Rusty Tucker The Supreme Court of Texas has ruled that oil and gas leases under consideration in BlueStone Natural Resources II, LLC v. Walker Murray Randle, et al. did not permit deduction of postproduction costs from sales proceeds before royalties were computed, and a “free use” clause did not authorize the lessee to consume leasehold gas in off-lease operations without compensating the lessors. The takeaway … … at least that’s what they ruled…

Texas Tax Talk

Tips for Working with IRS Revenue Agents During an Audit – Part 2

By Larry Jones

March 29, 2021

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If you haven’t read Part 1 of this blogpost, you might appreciate the background in that post. That post dealt primarily with the concepts of communication during the audit. However, the concepts below should be helpful even without the benefit of Part 1. This post focuses on the concepts of preparation and presentation during the audit. …

Tilting the Scales

Falling Off the Fence: Can You Fire Those with Different Viewpoints?

By Cleve Clinton

March 26, 2021

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Ernest “Big Daddy” Bux’s daughter Kathy “Kitten” was working for Approval Literary Agency in Blessing, Texas – that is until last month. Kitten, an associate literary agent with Approval Literary was sacked after her boss learned that she owned accounts on the politically charged social media sites Lobby and Blabber. The agency’s owner I.B. Cheef publicly announced on Twitter that the firm had dropped Kitten after making the “distressing” discovery. Kitten tweeted that she…

Gray Reed & McGraw LLP

Gray Reed & McGraw LLP Blogs

Blog Authors

Texas Legislature to Consider Oil and Gas Lien Law Amendment

What are “Drilling Operations”?

Excusable Delay and Builder’s Risk: A Reminder to Weatherproof Your Contracts

Well Operator Protected by the Model Form JOA

Is Your Partnership IRS Audit Ready?

Climate Change for Energy Professionals – Part 3

Texas Community Property Law and How to Plan Around it

Texas Supreme Court Weighs in on Post-Production Costs

Tips for Working with IRS Revenue Agents During an Audit – Part 2

Falling Off the Fence: Can You Fire Those with Different Viewpoints?

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