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. This became a point of contention with the lessors.
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