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3d 544 (2024) , the Texas Supreme Court addressed a case where the Plaintiff claimed that two leases had terminated because a shut in royalty payment was made late. The leases in question had a pretty standard shut in royalty clause that allowed a payment of $50.00 Production on the only well ceased in September 2017.
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.
The Oil Industry of Nigeria If anyone asks Chevron or Shell, for example, how they feel about Nigeria, the response would probably be that they were tired of problems, at least if they were honest. History of oil in Nigeria Oil was first discovered in Nigeria in the mid-1950s after decades of fruitless exploration.
(Oil & Gas 360) – Calgary, Alberta (May14, 2025) Strathcona Resources Ltd. Strathcona would like to thank its entire Montney team, led by President Al Grabas, for their invaluable contributions in growing the Montney business from just 5 Mboe / d in January 2017 to 72 Mboe / d in 2024. Tourmaline) for $291.5
On June 2, 2017 the Louisiana Second Circuit Court of Appeal affirmed a trial court’s judgment cancelling a mineral lease under Mineral Code article 140 and provided further clarity on a production in paying quantities analysis under Louisiana Mineral Code article 124. [1] 1] The dispute in Gloria’s Ranch, L.L.C. Tauren Exploration, Inc.
This case presents two critical questions: Who owns subsurface caverns created by salt mining operations, and How should in-kind royalties be calculated for salt production? As I recently summarized in my annual oil and gas law review (Austin W. Brister & Logan Jones, Oil, Gas & Mineral Law, 9 SMU ANN. West , 508 S.W.2d
the El Paso Court of Appeals reversed a trial court's summary judgment and held that post-closing "corrections" to overriding royalty assignments were invalid and unenforceable against a subsequent purchaser. Callon acquired and recorded its ownership interest in August 2017. —El Paso Jan. 28, 2025, no pet.
May 16, 2025), the Texas Supreme Court resolved two significant issues affecting mineral owners and surface owners: (1) who owns the empty caverns created by salt mining operations, and (2) how to calculate royalty payments on produced salt. Despite this substantial production, USM did not pay Myers any royalty. Can a Cavern Be Owned?
The defendants previously moved for rehearing with the Second Circuit, which although denied in a 3-2 decision, resulted in a vigorous dissent that warned of the opinion’s “[d]evastating economic repercussions” for the lending industry, and “[s]erious and harmful impact on the oil and gas industry.”
A vigorous dissent by Judge Bleich warns that, if maintained, the original opinion could have both “[d]evastating economic repercussions” for the lending industry, and “[s]erious and harmful impact on the oil and gas industry.” The defendants will have until September 7, 2017 to seek a writ from the Louisiana Supreme Court.
The second major increase began in early 2017 and continues through today. for a one-fourth (1/4) mineral royalty and as much as ten thousand ($10,000) dollars per acre bonus royalty.”
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. total CO 2 emissions.
They entered into the agreement in December 2017. Once ersodetug is commercialized, they will pay royalties to XOMA and there are $185M of sales related milestone payments. Under this agreement they made a milestone payment of $2M Jan 2022. Total additional milestone payments would amount to $30M for development.
14] The Second Circuit’s decision in regard to this issue does not represent a departure from the viewpoint that most in the oil and gas industry have towards notarial acts of correction. 31:59 (2017)). [24] 31] However, the Court recognized that the operator routinely obtained permits as part of its operations. [32] However, art.
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