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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

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. The leases contained the following royalty provisions: 3. Sheppard , — S.W.3d Mewbourne Oil Co.”,

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U.S. House of Representatives Passes Energy Bill

The Energy Law

Title I addresses the existing moratoria, future OCS access, exploration, production and royalty questions. per MMBtu, unless lease royalties were renegotiated with the Secretary , imposes Conservation of Resources Fee on nonproducing lease acreage of $3.75 House of Representatives passed Speaker Pelosi’s Energy Bill, H.R.

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Nigeria Oil Industry Overview

Drillers

Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. billion barrels of proven oil reserves as well as 5.675 trillion cubic metres of natural gas, which explains why the supermajors are not too tired of their problems in Nigeria.

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Whitecap Resources, Veren to combine to form C$15 billion Canadian energy giant

Oil & Gas 360º

Refer to Barrel of Oil Equivalency and Production & Product Type Information in this press release for additional disclosure. Barrel of Oil Equivalency “Boe” means barrel of oil equivalent. Refer to the Specified Financial Measures section in this press release for additional disclosure and assumptions.

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Presidential Election 2020: Considerations for the Oil & Gas Industry

The Energy Law

Biden’s “energy” plan focuses largely on historic levels of public investment in clean and renewable energy sources and infrastructure ( e.g. , solar, wind, electric vehicles), reducing greenhouse gas emissions (primarily from the transportation, electricity and other industrial sectors), and curbing the effects of climate change.

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Presidential Election 2020: Considerations for the Oil & Gas Industry

The Energy Law

Biden’s “energy” plan focuses largely on historic levels of public investment in clean and renewable energy sources and infrastructure ( e.g. , solar, wind, electric vehicles), reducing greenhouse gas emissions (primarily from the transportation, electricity and other industrial sectors), and curbing the effects of climate change.

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Presidential Election 2020: Considerations for the Oil & Gas Industry

The Energy Law

Biden’s “energy” plan focuses largely on historic levels of public investment in clean and renewable energy sources and infrastructure ( e.g. , solar, wind, electric vehicles), reducing greenhouse gas emissions (primarily from the transportation, electricity and other industrial sectors), and curbing the effects of climate change.

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