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In re INEOS USA Oil & Gas LLC

Texas Court of Appeals, Corpus Christi-Edinburg 13-25-00335-CV resolved

The Thirteenth Court of Appeals conditionally granted mandamus relief to INEOS, CNOOC, Jamestown, and Chesapeake entities, holding that a venue selection clause designating Nueces County was unenforceable because the assignment of fourteen oil and gas leases covering 633.22 acres in La Salle County did not constitute a "major transaction" under Texas Civil Practice and Remedies Code § 15.020. The dispute arose from Texas Lone Star Petroleum's claim that reversionary rights were triggered when wells drilled by assignees failed to satisfy production levels required in a Partial Assignment with an $850-per-acre purchase price totaling $538,237.

Analysis