The Energy Law

MARCH 15, 2023

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 lessees owned working interests in certain oil and gas leases that were executed in 2007.

Royalty 98

Royalty Oil Gas Downstream 98

The Energy Law

JUNE 21, 2016

On June 17, 2016, the Texas Supreme Court ruled that an oil and gas producer (“Southwest”) was not entitled to a statutory exemption from sales taxes on its purchases of casing, tubing and pumps used in the production of oil and gas (the “Equipment”). At issue in Southwest Royalties, Inc.

Manufacturing 52

Manufacturing Oil Gas Royalty 52

The Energy Law

MARCH 10, 2023

First, the Advanced Manufacturing Production Credit grants a tax credit equal to 10% of the costs incurred to produce any critical minerals, [1] including lithium. [2] American oil and gas producers may soon be poised to capitalize on this demand, as produced water from some areas contains appreciable levels of dissolved lithium.

E&P 105

E&P E&A Oil Gas 105

The Energy Law

NOVEMBER 28, 2022

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.

Offshore 105

Offshore Operator E&A Transportation 105