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Dallas-based Elk Range Royalties said recently it acquired Newton Financial Corp., Collectively they own mineral and royaltyinterests across the Permian Basin in west Texas and Eagle Ford in south Texas. Elk Range buys mineral and royaltyinterests across multiple U.S. Concord Oil and Mission Oil.
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. —San Antonio Oct.
In the 1920s—the time the deed at issue was executed—lessors commonly reserved a one-eighth royaltyinterest when they executed oil and gas leases. In addition to the estate misconception theory, the Court analyzed the “legacy of the one-eighth royalty.” Eastland June 1, 2021). Dils Co. , 2d 904 (Tex.
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 royaltyinterest (NPRI) into a floating NPRI. " The Gipses later leased the minerals to ConocoPhillips for a 1/4 royalty. ." Ellison , 627 S.W.3d
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?
18-0983, 2021 WL 1045723, at *1 (Tex. 19, 2021) (“ Eagle II ”). Factual and Procedural Background TRO-X and Eagle entered into an agreement to buy and sell certain leases, sharing the cash and mineral interest proceeds derived from such sales (the “Agreement”). TRO-X, L.P. , TRO-X”) and Eagle Oil & Gas Co.
18-0983, 2021 WL 1045723, at *1 (Tex. 19, 2021) (“ Eagle II ”). TRO-X and Eagle entered into an agreement to buy and sell certain leases, sharing the cash and mineral interest proceeds derived from such sales (the “Agreement”). The Texas Supreme Court recently released its anticipated opinion in Eagle Oil & Gas Co.
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