It is one of the great American dreams: striking oil on your own property. However, if you were to discover valuable minerals beneath your land in Texas, it would often be both wise and profitable to slow down and look at the details.
With the enormous oil industry in Texas, oil rig blowouts pose a continuing problem. The State of Texas keeps track of such potentially catastrophic events and reports that Texas saw 46 blowouts over the past three years, 11 in 2018, 14 in 2017, and 24 in 2016.
As many business owners know, disputes between companies can get contentious and costly, both in terms of time wasted and money spent. In Texas, where the oil and gas industry dominates a large share of the market, disputes are not uncommon. There are many ways to settle a dispute, ranging from courtroom litigation to alternative dispute resolution methods – the latter of which are meant to reduce conflict, time and cost, as well as to preserve business interests.