Chris Cottrell, Winston and Strawn Law Offices, returns to The Crude Life to discuss the recent developments in the “Force Majeure” clause in oil and gas contracts. Oklahoma Governor Kevin Stitt sent a letter to President Donald Trump asking him to declare the coronavirus a “pandemic” or “epidemic” in order to start the force majeure clause in oil and gas contacts.
Cottrell also comments on the pros and cons for oil and gas as well as mineral owners should a “force majeure” be enacted.
The Texas Railroad Commission’s recent meetings regarding the control of production was also discussed. That discussion sprouted into a bigger discussion about the ideological juxtaposition the industry finds itself in.
On one spectrum, Mike Sommers, president, API, immediately shuts down bail outs and government intervention. On the other hand, Parsley Energy CEO Matt Gallagher publicly discusses government intervention on CNBC.
The genesis of Flamin’ Hot Cheetos and Wrigley Gum are also discussed in the interview as a relevant topics for current boardroom and virtual meetings.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
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