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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.
Devon Energy Production Company, L.P. Sheppard is a royalty dispute between several lessees, Devon Energy Production Co., concerning a novel royalty term that may have a huge impact on the way oil and gas royalties are paid in the future. and several lessors, Michael A. Sheppard, et.
The Louisiana Legislature’s 2023 Regular Session begins on April 10th, and last Friday, Louisiana Senator Allain of District 21 filed SB 154 proposing to enact a statutory framework directly governing the rights and obligations of parties to renewable energy leases. 122); The lessee of a renewable energy lease would be “bound to.
17, 2023), in which it re-affirmed the axiomatic principle that a text retains the same meaning in the present day as when it was drafted. In the 1920s—the time the deed at issue was executed—lessors commonly reserved a one-eighth royalty interest when they executed oil and gas leases. Navigators Grp. , 21-0146, 2023 WL 2053175 (Tex.
Hilcorp Energy Company , —F.4th—, Jan 12, 2024) concerns how three related provisions in an oil and gas lease interact: (1) a royalty clause; (2) a free-use clause; and (3) an off-lease clause. Related to royalty provisions are “free-use clauses” and “off-lease clauses.” 22-20226, 2024 WL 137038 (5th Cir.
In a straightforward application of Louisiana’s prescriptive principles, the Louisiana Court of Appeal for the Third Circuit affirmed the trial court’s grant of exceptions of prescription, finding plaintiff’s claims for fraud, under the Louisiana Unfair Trade Practices Act (LUTPA), and for unpaid royalties all prescribed in Karen May v.
In a straightforward application of Louisiana’s prescriptive principles, the Louisiana Court of Appeal for the Third Circuit affirmed the trial court’s grant of exceptions of prescription, finding plaintiff’s claims for fraud, under the Louisiana Unfair Trade Practices Act (LUTPA), and for unpaid royalties all prescribed in Karen May v.
3] Tauren subsequently assigned a 49% interest in the lease to Cubic Energy, Inc. 10] Gloria’s Ranch amended its petition to include a claim for failure to pay royalties on production in Section 15 (from the unit well drilled by Chesapeake). 4] In 2007, Fossil Operating, Inc. 5] Chesapeake Operating, Inc. Transmission, Inc. ,
—Tyler 5/5/2010), the Tyler Court of Appeals upheld a trial court’s findings of fact and conclusions of law with respect to the termination of an oil and gas lease for failure to pay shut-in royalty payments to the proper party. Van Hovenberg (“Van Hovenberg”) conveyed by royalty deed to O.B. In 1976, Karin H. In 1976, Karin H.
James Boldrick is an assignee of an overriding royalty interest in property subleased to BTA. Boldrick sued BTA and Chevron/Texaco, seeking monetary damages based upon breach of contract, unjust enrichment and conversion, alleging that his share of the overriding royalty interest was being used to benefit the Defendants.
The pursuit of alternative energy sources has become increasingly important in our quest for a sustainable future. Lithium, a key component in rechargeable batteries, has emerged as a vital element for powering electric vehicles and storing renewable energy.
Faced with competing claims for royalty payments from the PPG and State of Louisiana, Chevron, as sublessee of the 1938 BLD lease, filed a petition for concursus and deposited royalty payments into the court registry. Ultimately, the Fourth Circuit affirmed the trial court’s finding that the State’s claims were barred by res judicata.
1] In the case, a landowner sued its mineral lessees for: (1) failure to provide a recordable act evidencing the expiration of a mineral lease under Mineral Code articles 206-209 and (2) failure to pay royalties under Mineral Code articles 137-140. [2] in unpaid royalties and an additional double damages penalty of $484,058.52
On appeal, the Amarillo Court of Appeals agreed with Red Deer, finding that BP could not invoke the lease’s shut-in royalty clause because production from the last well was so slow that production in paying quantities had ceased, and thus the lease terminated, prior to BP shutting the wells in and offering to pay shut-in royalties.
During the presentation of the 2024 Budget to Parliament, the Finance Minister highlighted the positive impact of the policy, citing a reduction in the exchange rate from GHS17 to a dollar in November 2022 to GHS12 to a dollar in November 2023.
The Fifth Circuit reversed the district court, finding that Texas met the requirements for intervention as of right—it filed a timely motion, presented a direct and substantial interest in the litigation which would be impaired absent intervention, and had demonstrated that its interests were not represented by the existing parties.
30:10] simply means that, for all of this, he is given the equivalent of a “no cost” royalty clause on production proceeds. He must still pay all development and operations costs if he is to see economic benefit from the compulsory pooling to which he is subject. A strict construction of [La. This is hardly unjust. [19]
(Oil & Gas 360) Publisher’s Note: Whitecap Resources will be presenting at the 30th Anniversary EnerCom Denver-The Energy Investment Conference at the Westin Denver Downtown on August 17-20, 2025. and Veren’s website at www.vrn.com by selecting “Investors” , then “Presentations & Events”.
Given the fact that oil and gas operators often utilize concursus actions in disputes over mineral proceeds/royalties, the Court’s application of Article 4659 ensures that operators can continue to rely on the deposit of funds as satisfying not only their financial obligation to concursus claimants but also to the Court. However, art.
The CEQ report noted that royalty rate reduction credits for carbon capture could potentially create financial incentives for investment and recognized the need to address long-term liability after a storage site has been closed. This presents a significant opportunity for the Gulf of Mexico to be in a leading role in helping the U.S.
In Q3 investor presentation, Nutrien included the following slide. Source: Nutrien Q3 Presentation Nutrien said the cost of producing potash for the Brazil marketthe fastest growing in the worldhas gone WAY, WAY up. Source: Nutrien Investor Presentation There is just a single potash mine in Brazil – Taquari-Vassouras.
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