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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 In Scout Energy Management, LLC v. Taylor Properties, 704 S.W.3d
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.
Background and Lease Terms In this case ( Scout Energy Mgmt., 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. Taylor Properties , No. 23-1014, 2024 WL 5249490 [Tex.
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 August 2018, dry natural gas production from the Haynesville shale averaged 6.774 billion cubic feet per day, which is the highest daily Haynesville production average since September 2012 when production averaged 6.962 billion cubic feet per day. August 2018 was not an anomaly. 9/22/10); 48 So. 3d 341, 342-43.
Recently, the Nigerian government demanded more than $60 billion in back royalties under a production sharing agreement with the supermajors operating in the country. It will fall to courts to rule on this case, and it will take quite a while. The rate of royalty will rise in tune with oil prices. How did this happen?
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