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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 Blog

MARCH 15, 2023

Specifically, the lessors discovered that the lessees sold oil under contracts that calculated the sales price by taking an index price at market centers downstream from the point of sale and subtracting eighteen dollars per barrel for the purchaser’s anticipated post-sales costs.

Royalty

Royalty Oil Gas Downstream

HISTORY OF SPILLS: TC Energy’s Keystone pipeline (22 SPILLS: 2010-2022)

Adrian - Oil & Gas

DECEMBER 29, 2022

The Keystone 1 pipeline carries up to 720,000 barrels per day of tarsands from Alberta, Canada to refineries in Texas and Illinois.) 7 after alarms and a pressure drop in the system, the company said in a release, adding booms were deployed to control downstream migration of the release. Obama and Pres. CT on Dec. 30 spill. #21:

Pipeline

Pipeline Shutdown Downstream Oil

Energy Aggregated

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

HISTORY OF SPILLS: TC Energy’s Keystone pipeline (22 SPILLS: 2010-2022)

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