Texas Court Holds Produced and Stored Oil Transferrable as Personal Property in Assignment
The Energy Law Blog
NOVEMBER 24, 2009
By Sarah Steward-Lindsey In ERG Resources, LLC v. Merlon Texas, Inc., the First Court of Appeals in Houston held that oil which had been severed and stored in tanks on site was personal property and thus was transferred by an assignment of the oil and gas property on which the tanks were located. Merlon agreed to purchase oil and gas property owned by ERG pursuant to an “Assignment and Bill of Sale,” which stated that oil produced before January 1, 2008, and contained in the storage tanks on the
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