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Elk Range Royalties acquires assets in Permian Basin, Eagle Ford

Permian Basin Oil and Gas Magazine

Dallas-based Elk Range Royalties said recently it acquired Newton Financial Corp., Collectively they own mineral and royalty interests across the Permian Basin in west Texas and Eagle Ford in south Texas. Elk Range buys mineral and royalty interests across multiple U.S. Concord Oil and Mission Oil.

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Texas Supreme Court Holds that References to “One-Eighth” in Old Oil and Gas Conveyances Presumptively Refer to the Entire Mineral Estate

The Energy Law

In the context of antiquated oil and gas conveyances including a double fraction that includes “one-eighth,” the Court affirmed this principle by holding that such language gives rise to a rebuttable presumption that “one-eighth” refers to the entire mineral estate. Eastland June 1, 2021). Dawkins , 483 S.W.3d 11-21-00103-CV (Tex.

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Texas Supreme Court Rules on Modification of NPRIs

Producer's Edge

The Case In this recent case, the Texas Supreme Court resolved whether ratification of a lease or signing of a stipulation agreement could transform a fixed non-participating royalty interest (NPRI) into a floating NPRI. " The Gipses later leased the minerals to ConocoPhillips for a 1/4 royalty. Ellison , 627 S.W.3d

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Texas Supreme Court Update: TRO-X Lives to Fight Another Day in Contractual Dispute over Share of Income on Production from Equitable Interests

The Energy Law

The Texas Supreme Court recently released its anticipated opinion in Eagle Oil & Gas Co. 18-0983, 2021 WL 1045723, at *1 (Tex. 19, 2021) (“ Eagle II ”). TRO-X”) and Eagle Oil & Gas Co. Eagle”) regarding their agreement to jointly acquire and sell oil and gas leases. In the first, Eagle Oil & Gas Co.

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Texas Supreme Court Update: TRO-X Lives to Fight Another Day in Contractual Dispute over Share of Income on Production from Equitable Interests

The Energy Law

The Texas Supreme Court recently released its anticipated opinion in Eagle Oil & Gas Co. 18-0983, 2021 WL 1045723, at *1 (Tex. 19, 2021) (“ Eagle II ”). TRO-X”) and Eagle Oil & Gas Co. Eagle”) regarding their agreement to jointly acquire and sell oil and gas leases. In the first, Eagle Oil & Gas Co.

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Who Owns the Empty Space? Texas Supreme Court Affirms Surface Ownership of Salt Caverns in Landmark Ruling

Producer's Edge

In 1947, Myers-Woodward's predecessors retained the surface estate but conveyed the mineral estate to Underground Services Markham's (USM) predecessor through a mineral deed that included "all of the said oil, gas and other minerals in, on and under said land." The dispute arose on two fronts. Can a Cavern Be Owned?

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