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Dallas-based Elk Range Royalties said recently it acquired Newton Financial Corp., Concord Oil and Mission Oil. 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.
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. Devon Energy Production Company, L.P. and several lessors, Michael A. Sheppard, et. Factual Background and Issue.
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. Dils Co. , 2d 904 (Tex.
The lease royalty case Carl v. The lease provided for a royalty calculated based on the “market value at the well.” First, the lessor relied on a portion of the royalty clause indicating that royalty was due “on gas … produced from said land and sold or used off the premises.”
The lease royalty case Carl v. The lease provided for a royalty calculated based on the “market value at the well.” First, the lessor relied on a portion of the royalty clause indicating that royalty was due “on gas … produced from said land and sold or used off the premises.”
Court Interprets “Free of Cost Forever” Royalty Language Broadly In this case ( Fasken Oil & Ranch, Ltd. Background: 1960 Deed and Royalty Dispute The dispute arose from a 1960 deed where B.A. Hyder , which also addressed a royalty provision with “cost-free” language. 30, 2024, no pet.
19-0459, 2021 WL 936175 (Tex. 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.
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. Related to royalty provisions are “free-use clauses” and “off-lease clauses.” Lessees often use gas produced from a leased premises to power those processes.
19-0459, 2021 WL 936175 (Tex. 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. Factual and Procedural Background.
Free-Use Clause and Further Interprets Conflicting Royalty Clause Provisions The Texas Supreme Court recently issued its anticipated decision in BlueStone Natural Resources II, LLC v. 19-0459, 2021 WL 936175 (Tex. In 2006, however, BlueStone acquired the lease and became responsible for paying royalties on production thereunder.
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. ."
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 Infrastructure Investment and Jobs Act (IIJA), signed into law on November 15, 2021, amended Section 40307 of the Outer Continental Shelfs Act (OCSLA) to provide authority to the U.S. The Council on Environmental Quality (CEQ) issued a “ Report to Congress on Carbon Capture, Utilization, and Sequestration ” in June of 2021.
filed) Mineral owners are often subject to general oil and gas lease forms that include provisions benefitting the surface estate. LLC sought to enforce a provision in a 1948 mineral lease requiring Unitex WI, LLC and Unitex Oil and Gas, LLC (Unitex) to bury pipelines on the ranch land surface CT Land acquired in 2013.
A recent decision from the Louisiana First Circuit Court of Appeal may have lasting effects on good faith purchasers of oil. TMR Exploration, Inc , 2021 WL 267916, the First Circuit affirmed a district court ruling on summary judgment applying the good faith purchaser defense provision set forth in La.
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.
The courts summary states, This dispute concerns whether the mineral lessee or the surface estate holder owns the produced water from oil and gas operations. These leases conveyed to Cactus the produced water from oil and gas operations on the land. Cactus informed COG of its leases. Phelan is CEO of U.S. Why do they sell?
A recent decision from the Louisiana First Circuit Court of Appeal may have lasting effects on good faith purchasers of oil. TMR Exploration, Inc , 2021 WL 267916, the First Circuit affirmed a district court ruling on summary judgment applying the good faith purchaser defense provision set forth in La.
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.
royalty on Goldboro that Nexgold can re-purchase at their option. The 2021 feasibility study for Signals Goldboro asset showed pro-forma 100,000 oz of annual production with an AISC of US$849/oz, when gold was US$1600/oz, on a grade of 2.26 Nebari also gets a small 0.6% Capex was estimated at CAD$335 million.
These were issued from 2021 to 2024. Once ersodetug is commercialized, they will pay royalties to XOMA and there are $185M of sales related milestone payments. The existing option is Diazoxide or surgery and I don’t see any evidence that another company has a drug in development that is targeting Tumor HI. of revenue by 2031.
July 7, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. The move comes after oil prices, which rose during the recent Israel-Iran conflict, settled on Friday with Brent at $68.30 This relief for over 61 million travelers is driven by cheap crude oil, as the U.S.
June 2, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Alaska leaders seek 90% of federal oilroyalties as state revenues suffer from low oil prices, while supporting ConocoPhillips’ Willow oil project. Weak power demand (-4.4%
Supreme Court grappled on Wednesday over whether the Nuclear Regulatory Commission has the authority to license nuclear waste storage facilities amid objections brought by the state of Texas as well as oil industry interests. The justices heard arguments in an appeal by the U.S. government and fire thousands of workers. ” Gorsuch asked.
On April 22, 2021, the plaintiffs—Texas, Louisiana, and eight other energy producing states (the “Plaintiff States”)—filed suit to challenge Executive Order 13990, seeking declaratory and injunctive relief. Conclusion.
Doughty of the Western District of Louisiana granted Plaintiff States’ request for an injunction to block the Biden Administration’s pause on new federal oil and gas lease sales (“Lease Pause”). 2:21-cv-00778-TAD-KK, 2021 WL 2154963 (W.D. June 15, 2021). Louisiana v.
Doughty of the Western District of Louisiana granted Plaintiff States’ request for an injunction to block the Biden Administration’s pause on new federal oil and gas lease sales (“Lease Pause”). 2:21-cv-00778-TAD-KK, 2021 WL 2154963 (W.D. June 15, 2021). Louisiana v.
Doughty of the Western District of Louisiana granted Plaintiff States’ request for an injunction to block the Biden Administration’s pause on new federal oil and gas lease sales (“Lease Pause”). 2:21-cv-00778-TAD-KK, 2021 WL 2154963 (W.D. June 15, 2021). Louisiana v.
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