This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Some O&G producers in West Virginia are gaming the system by not paying landowners/rights owners the royalties they are due. The post WV Legislature Advances Bill to Fine Drillers for Royalty Nonpayment first appeared on Marcellus Drilling News. Typically, this does not apply to shale drillers, mostly larger companies.
Another case interpreting a royalty reservation in an old conveyance has been decided by the 11th Court of Appeals in Eastland: Boren Descendants and Mabee Descendants v. The deed reserves “an undivided one-fourth (1/4th) of the usual one eighth (18th) royalty.” Fasken Oil and Ranch, Ltd. , two consolidated appeals, Nos.
CALGARY, Alberta, March 12, 2025 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. Freehold or the Company) (TSX:FRU) announces fourth quarter and year-end results for the period ended December 31, 2024. Fourth Quarter 2024 Highlights $77 million in revenue; $61 million in funds from operations ($0.40/share)(1)(3);
Renewed growth sentiment among miners’ management teams, combined with the rise of streaming-and-royalty financing over the past ten years, suggests that this particular type of alternative financing could be set for significant expansion over the next decade.
CALGARY, Alberta, March 10, 2025 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. PrairieSky) (TSX:PSK) announced today that its Board of Directors has declared a quarterly dividend of CDN $0.26 per common share, payable in cash on April 15, 2025 to shareholders of record on March 31, 2025.
CALGARY, AB, March 10, 2025 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gas royalty company with an established portfolio of oil royalties, announces unaudited(1) operational and financial highlights for fiscal 2024 and the fourth quarter of 2024 (“Q4 2024”).
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 NationsBank”, 939 S.W.2d
By EDF Blogs By Aaron Wolfe, Ari Pottens , and Scott Seymour EDF economic analysis found that in 2022 oil and gas operators across Alberta wasted $671 million in natural gas, costing the provincial government over $120 million in lost royalties and uncollected corporate taxes.
Accordingly, auditing of royalty payments was left to the Mineral Board’s internal accountants, and when an issue arose as to whether royalty payments were made correctly, the Mineral Board’s land personnel and internal counsel would oversee sending demands and pursuing litigation against the State’s mineral lessees and well operators.
04-23-00106-CV, the San Antonio Court of Appeals was asked to construe a royalty reservation in a 1960 deed: There is saved, excepted and reserved, in favor of the undersigned, B.A. Said interest hereby reserved is Non-Participating Royalty. In Fasken Oil and Ranch, Ltd. Puig, Jr., as his own property free of cost forever. 2d 118 (Tex.
Earlier this month, the Texas Independent Producers & Royalty Owners Association (TIPRO) released the 10th edition of its State of Energy Report, offering a detailed analysis of national and state trends in oil and natural gas employment, wages and other key economic factors for ?the the energy industry in 2024 (full copy below).
Whether a royalty granted or reserved in a deed is a “fixed” or “floating” royalty has resulted in a lot of litigation in Texas. The Plaintiff sold land to a third party and reserved a 1/8 royalty nonparticipating royalty interest (fixed royalty language). ConocoPhillips Co.,
Investing in oil and gas royalties involves purchasing the rights to receive a portion of the revenue generated from the production and sale of oil and gas from a particular property or lease. Passive Income : Oil and gas royalties can provide investors with a source of passive income.
million judgment for reimbursement of mineral royalties. million in mineral royalties attributable to ownership of these banks. As there are no such provisions governing the Crooks plaintiffs’ mineral royalties claims, the legislature has retained its discretion to appropriate funds for those claims. 1/1/23), So.
In a recent case, the Texas Supreme Court considered whether interest on late royalty payments was supposed to be simple or compound interest. When Samson paid previously unpaid royalties to the Plaintiff, it included simple interest. In Samson Exploration, LLC v. Bordages, 662 S.W.3d 3d 501, 2024 (Tex.
The Texas Supreme Court is going to hear a case in which the issue is whether the interest to be paid on past due royalties is simple or compound interest. The leases provide for an 18% late-charge penalty on past-due royalties to be calculated each month but do not expressly state whether the interest should be compound or simple.
The old lease provided for 1/8 royalty, and 3/4 of the royalty had been reserved or transferred to other owners long before Enervest acquired the lease, so the Opielas owned only 1/4 of 1/8 royalty. Enervest and Magnolia drilled some horizontal EagleFord wells located wholly on the lease.
In 2002 Hahn conveyed the tract to William and Lucille Gips, reserving an undivided one-half non-participating interest in and to all of the royalty [Hahn] now owns (same being an undivided one-half of [Hahn’s] one-fourth or an undivided one-eighth royalty) … Continue reading
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. The royalty clause at issue required the lessees to pay to the lessors 1/5th of the “gross proceeds” as a royalty.
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.
With the prevalence of cases involving royalty disputes in Texas, the state’s Supreme Court has never hesitated to address these issues. But the Court’s sporadic holdings regarding royalty clauses, each so specific to the particular language of the lease, have left lessees on unsteady footing. Heritage Resources , 939 S.W.2d
The Associated Press reported today that a federal jury found Kerr McGee liable for additional royalties on crude oil produced from federal properties and sold through Texon. Kerr McGee had denied the allegations and claimed that no additional royalties were owed. Kerr McGee has indicated that intends to appeal the verdict.
Ross alleged that Shell failed to pay royalties in accordance with the lease agreement and that it fraudulently deprived him of royalties by making payments “based on an arbitrary amount even below the internal transfer price.” Shell, however, did not calculate royalty payments based on the price it received for the gas.
by Elisabeth Lorio Baer Interior Secretary Ken Salazar informed Congress on September 17, 2009 that he would kill a controversial program, currently in effect, that allows energy companies to pay the government royalties for drilling on public lands in actual oil and gas in lieu of cash.
By Dana Douglas The Louisiana First Circuit Court of Appeal recently held that an operator is not responsible for payment of a non-operator’s royalties and overriding royalties before payout. Thus, the non-participant was responsible for payment of its royalty and overriding royalty payments. In Gulf Explorer, LLC v.
15, 2008), the Texas Supreme Court again addressed the propriety of class actions for gas royalty claims. The class affirmed the denial of two subclasses, but reversed the denial of a third subclass of royalty claimaints. Phillips Petroleum Co. , 03-0824 (Feb. Thus, under its Yzaguirre holding, class treatment was inappropriate.
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. When parties to an oil and gas lease reserve royalties, they stipulate where those royalties are to be valued—sometimes referred to as the “valuation point”—in the royalty clause.
While the Court is no stranger to interpreting (and often muddling) the familiar royalty clause interpretation questions surrounding the first issue, in a case of first impression, the Court also analyzed the breadth of a lease’s free-use clause. after deductions), resulting in lower royalty payments for the royalty owners.
The court ruled that Interior’s price threshold clauses unlawfully deprived Kerr-McGee of the statutory right to produce minimum volumes of oil and gas royalty-free, as mandated by Congress in the Outer Continental Shelf Deep Water Royalty Relief Act of 1995. CLICK here to view the decision
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.” Dils Co. , 2d 904 (Tex.
Ohio’s Seventh District Court of Appeals recently interpreted two reservations of non-participating royalty interests (NPRIs) involving double fractions, holding that they reserved fixed, rather than floating, royalties. Ohio, LLC , 2023-Ohio-4749.
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.
The Court held that the lessees’ payment of royalties based on amounts they received from sales to their affiliates at the well was proper and followed the language of the lease. By using the netback method to determine those royalties, “Plaintiffs’ royalties are based on the wellhead value of the gas sold.
The company said its working-interest oil production before royalties in the Manora field in the Gulf of Thailand has increased from 2,144 bpd in December 2024 to 2,866 bpd.
the Third Circuit addressed the question of whether or not a mineral lessee must pay its lessor full lease-basis royalties for production undertaken during the effective period of a conditional allowable but prior to the effective date of a unit order. [1] Anglo-Dutch Energy, L.L.C. , Anglo-Dutch Energy, L.L.C. , Anglo-Dutch Energy, L.L.C. ,
Ohio’s Seventh District Court of Appeals recently held that an “anti-washout” provision found in multiple assignments of overriding royalty interests covering leases that subsequently expired was not binding on the original lessee’s assignees, which had taken new leases to those same lands, as there was no privity of contract.
While the Court is no stranger to interpreting (and often muddling) the familiar royalty clause interpretation questions surrounding the first issue, in a case of first impression, the Court also analyzed the breadth of a lease’s free-use clause. after deductions), resulting in lower royalty payments for the royalty owners.
hands a victory to financiers of oil and gas operations and settles a long-running controversy over the amount of damages available for failure to pay mineral royalties. in unpaid royalties, plus an additional double damages penalty of $484,058.52. in unpaid royalties, plus an additional double damages penalty of $484,058.52.
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.
The deed conveyed to the Jameses one-half of the royalties and mineral interests in the property and reserved the other one-half to Gray Investments. Division orders were prepared by Kelley Oil Corporation, a predecessor-in-interest to Samson, and the Jameses began receiving royalties.
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). 11] The trial court also found that defendants failed to pay royalties in Section 15 and awarded Gloria’s Ranch the royalties owed plus punitive damages. [12]
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content