The “Industry Deal” Among Oil and Gas Companies and the Federal Securities Acts



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Texas Tech Law Review


Analyzes whether oil and gas investors need and should receive the protection and benefits provided by the federal securities laws. The article discusses the typical “industry deal” among oil and gas companies, the practical implications of applying the federal securities laws, whether an industry deal among oil and gas companies involves a security, the importance and role of economic bargaining power, the availability and application of the defense of waiver or failure to rescind promptly, and the manner in which courts treat the sophistication and experience of an oil and gas company bringing an action for rescission under the federal securities law. The article suggests and argues that a complete reevaluation of certain aspects of the federal securities laws is necessary. The article does not summarize the theories of those arguing against paternalist laws or summarizing various cost/benefit analyses of federal securities laws.



Oil and gas law, Securities law, Federal law


16 Tex. Tech L. Rev. 827