Remove 2022 Remove IT Remove Royalty
article thumbnail

Louisiana Legislature to Consider Amendments to Forced Pooling Regime Requiring Operators to Pay Lessors of Nonparticipating Working Interest Owners Directly

The Energy Law

While 30:10 was amended during the 2022 legislative session, the amendment preserved the limited obligation of remitting the royalty and overriding royalty burdens to the nonparticipating owner for the benefit of the royalty and overriding royalty owners.

Royalty 98
article thumbnail

Sixth Circuit Court of Appeals Affirms District Court Decision on Royalty Calculations

Vorys Energy

On February 1, 2022, the United States Court of Appeals for the Sixth Circuit affirmed the lower court’s decision in Zehentbauer Family Land, LP, et al. The Court held that the lessees’ payment of royalties based on amounts they received from sales to their affiliates at the well was proper and followed the language of the lease.

Royalty 40
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

A Primer on CCUS Regulation in Louisiana

The Energy Law

It is currently anticipated that primacy for Louisiana will be granted in late 2022 or early 2023. Article original published in the Society of Applied Geoscientists and Engineers Magazine, the SAGE MAGE, March 2022, vol. In addition to the unit order, the operator must receive approval for its injection wells. 30:1101-1111).

article thumbnail

30% of Ghana’s crude oil consumption purchased through Gold for oil programme – Lands Minister

Reporting Oil and Gas

In response to the depreciation of the Ghana Cedi in the last quarter of 2022, the government introduced the Gold for Oil Programme, utilizing gold produced within the country to purchase oil and alleviate pressure on the local currency. Additionally, petrol prices decreased from GHS23 per litre to GHS12 per litre.

article thumbnail

Long-Awaited Victory on the Proper Deductibility of Post-Production Costs from Unleased Mineral Owners – The Western District of Louisiana Reverses Course in Johnson v. Chesapeake and Self v. BPX

The Energy Law

Today, on March 31, 2022, the Western District of Louisiana reversed that ruling and applied the same rationale to a pending motion for partial dismissal in one of the putative class actions, Self v. Chesapeake. Neither contained any provision for attorney’s fees.

article thumbnail

Depletion Allowance for Oil and Gas Overview

Aresco

Oil and gas tax deductions 2023 did not change significantly from oil and gas tax deductions 2022. Crude Oil Investing: A Guide for Accredited Investors Investing in Oil and Gas Royalties Explained What are Tangible Drilling Costs? Disclaimer The above general discussion is provided for background information only.

Oil 52
article thumbnail

What are Intangible Drilling Costs?

Aresco

This category includes lease acquisition fees, rentals, and royalty payments to property owners and mineral rights holders. Oil and gas tax deductions 2023 did not change significantly from oil and gas tax deductions 2022. Securing these rights is fundamental as it grants the legal authority to access and develop subsurface resources.