Abstract:
This article critically appraises the various provisions of section 9.319. The author maintains that the section must be construed in light of the fact that the section’s added protection of the interest owner’s position is frequently contrary to Article 9 policies and normal business practice. The author suggests that efforts to limit section 9.319 in accordance with Article 9 policies will enable the section to help interest owners without unnecessarily undermining the certainty and efficiency of oil and gas secured transactions.