2023, Downstream and Royalty - Energy Aggregated

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2023

Downstream

Royalty

Texas Supreme Court Holds that Add-Back Provision in Oil and Gas Lease Required Royalties to be Paid on Prices in Excess of the Producers’ Gross Proceeds

The Energy Law

MARCH 15, 2023

20-0904, 2023 WL 2438927 (Tex. 2023), in which it held that lessees owed royalties in excess of their gross proceeds, specifically “adding back” costs incurred by third-party buyers that were enumerated in the sales contract and subtracted from the sales price. 20-0904, 2023 WL 2438927 (Tex. Sheppard , — S.W.3d

Royalty

Royalty Oil Gas Downstream

Nigeria Oil Industry Overview

Drillers

MARCH 24, 2020

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. According to it, oil companies operating in Nigeria would owe an additional royalty to the government when oil prices pass the $35-per-barrel threshold.

Oil

Oil Royalty Exploration and Production Government

Texas Supreme Court Holds that Add-Back Provision in Oil and Gas Lease Required Royalties to be Paid on Prices in Excess of the Producers’ Gross Proceeds

Nigeria Oil Industry Overview

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