When Contract Language Costs Millions: Court Strikes Down Post-Closing Assignment 'Corrections'
Producer's Edge
JUNE 4, 2025
The distinguishing feature of the 24 leases at issue was that KEW owned up to an 80% working interest in them (compared to 75% in all other leases being sold). The sales contracts addressed this extra up-to-5% interest through Section 8.1(iii), Callon acquired and recorded its ownership interest in August 2017.
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