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Texas Supreme Court Holds that References to “One-Eighth” in Old Oil and Gas Conveyances Presumptively Refer to the Entire Mineral Estate

The Energy Law

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. In addition to the estate misconception theory, the Court analyzed the “legacy of the one-eighth royalty.” The Texas Supreme Court recently released its opinion in Van Dyke v.

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Louisiana Legislature to Consider Amendments to Forced Pooling Regime Requiring Operators to Pay Lessors of Nonparticipating Working Interest Owners Directly

The Energy Law

As was the case in 2012, this proposed amendment would also extend this direct payment requirement to any overriding royalty interests burdening the nonparticipating owner’s lease. Communications include firm news, insights, and events. In turn, the nonparticipating owner is responsible for its own lease burdens.

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Court Addresses Sufficiency of Demand Letter Under Mineral Code Articles 212.21-23

The Energy Law

In exchange, the defendant agreed to transfer an overriding royalty interest in the subject prospect to the plaintiff in the event defendant acquired an interest in the prospect. In CLK Company , the parties entered into a confidentiality agreement whereby the plaintiff agreed to provide services to the defendant.

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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 Texas Supreme Court recently released its opinion in Devon Energy Production Company, L.P.

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Texas Supreme Court Update: TRO-X Lives to Fight Another Day in Contractual Dispute over Share of Income on Production from Equitable Interests

The Energy Law

denied) (“ Eagle I ”), TRO-X alleged that Eagle deprived TRO-X of its right to acquire certain mineral interests upon the sale of several leases in violation of their agreement. TRO-X lost that suit on appeal when the court of appeals found that TRO-X held equitable title to those interests and thus was not deprived of them.

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Texas Supreme Court Update: TRO-X Lives to Fight Another Day in Contractual Dispute over Share of Income on Production from Equitable Interests

The Energy Law

denied) (“ Eagle I ”), TRO-X alleged that Eagle deprived TRO-X of its right to acquire certain mineral interests upon the sale of several leases in violation of their agreement. TRO-X lost that suit on appeal when the court of appeals found that TRO-X held equitable title to those interests and thus was not deprived of them.

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Emerging on the Other Side of the Coronavirus Pandemic: Raising Structured Capital for Small and Mid-Size Businesses

The Energy Law

Many LLC operating agreements provide for the issuance of additional membership interests or units, but may not provide for the issuance of a different class of membership interests or units. Other SMBs are organized as corporations under state law.