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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.
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.
31, 2024]), the Texas Supreme Court held that vague notations on shut-in royalty check receipts cannot modify an unambiguous lease provision regarding the timing and effect of shut-in payments. The dispute arose from two leases containing identical shut-in royalty provisions. Taylor Properties , No. 23-1014, 2024 WL 5249490 [Tex.
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.
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? 2017), where the Court emphasized that “the surface owner owns and controls the mass of earth undergirding the surface.” 3d 39 , 47 (Tex.
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?
These applications sought review of the Louisiana Second Circuit’s June 2, 2017 decision affirming the trial court’s ruling that Wells Fargo, a mortgage lender with a security interest in a mineral lease, was solidarily liable with its borrowers (the mineral lessees) for a breach of the mineral lessees’ contractual and statutory obligations to produce (..)
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. Still, in 2017 it changed tack and decided to legalise the facilities instead, bringing what many see as a flourishing business in fuel-starved Nigeria to the light.
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 defendants will have until September 7, 2017 to seek a writ from the Louisiana Supreme Court. Tauren Exploration, Inc. , A detailed summary of that decision is available here. On August 7, in a 3-2 decision, a panel of five Second Circuit judges denied the defendants’ application for rehearing. Chief Judge Henry Brown, Jr.,
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.
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.
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.
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. 31:59 (2017)). [24]
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