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20-0904, 2023 WL 2438927 (Tex. 2023), in which it held that lessees owed royalties in excess of their gross proceeds, specifically “adding back” costs incurred by third-party buyers that were enumerated in the sales contract and subtracted from the sales price. 20-0904, 2023 WL 2438927 (Tex. Sheppard , — S.W.3d
3d , 2023 WL 526075, the Louisiana Supreme Court rejected a writ of mandamus that would have compelled the LDNR to satisfy a $4.7 million judgment for reimbursement of mineral royalties. million in mineral royalties attributable to ownership of these banks. 1/1/23), So.
The Texas Supreme Court is going to hear a case in which the issue is whether the interest to be paid on past due royalties is simple or compound interest. In the case of Samson Exploration, LLC v. granted September 1, 2023) , the lessors executed a number of oil and gas leases with Samson. Bordages, 662 S.W.3d
On Friday, March 31, 2023, Representative Larry Bagley of Louisiana’s District 7 proposed amendments to Louisiana Revised Statutes § 30:10. As was the case in 2012, this proposed amendment would also extend this direct payment requirement to any overriding royalty interests burdening the nonparticipating owner’s lease.
21-0146, 2023 WL 2053175 (Tex. 17, 2023), in which it re-affirmed the axiomatic principle that a text retains the same meaning in the present day as when it was drafted. In the 1920s—the time the deed at issue was executed—lessors commonly reserved a one-eighth royalty interest when they executed oil and gas leases.
Several 2023 decisions rendered by the El Paso Court of Appeals, reflect a trend toward near-automatic application of the presumption. This article discusses a couple more cases in 2024. Many anticipate that double-fraction cases will continue to steadily flow through Texas courts for the foreseeable future. Montgomery, Tr.
The Louisiana Legislature’s 2023 Regular Session begins on April 10th, and last Friday, Louisiana Senator Allain of District 21 filed SB 154 proposing to enact a statutory framework directly governing the rights and obligations of parties to renewable energy leases.
The company holds 100% working interest and 98% net royalty interest across the greater BA-IX mining license at the Kiskunhalas project. for un-risked case. Full FDP results in capital expenditure from CHPE (2C case) of US$947.9 million, discounted at the same 10% rate.
billion of agricultural products in 2023, and Brazil ranks first in production for many of the worlds highest-demand and potash-intensive crops, like soybean and sugarcane. Finally, in October 2023, with all the appeals satisfied, the court allowed that the license was valid and reinstated. from 2023 to 2027.
The Texas Supreme Court heard oral arguments last week in a case that could substantially clarify, or even fundamentally reshape, the characterization and ownership of underground storage rights in Texas. The case was Myers-Woodward v. The case remains pending before the Texas Supreme Court on petition for review.
This particular species of lease washouts is based on two recent cases from the El Paso Court of Appeals – Cimarex Energy Co. —El Paso, 2023 pet. In a similar case, Cromwell v. Anadarko Petroleum Corp., 3d 73, 93 (Tex. —El Paso 2019, pet denied)) and Cromwell v. Anadarko E & P Onshore, LLC, 676 S.W.3d
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?
One case before the Texas Supreme Court was argued on March 18: Cactus Water Services, LLC, v COG Operating, LLC. And the crux of the case, in the courts words: Years after executing the mineral leases with COG, the surface owners executed Produced Water Lease Agreements with Cactus. Phelan is CEO of U.S. Why do they sell?
There are cases where the tumor is causing HI by creating a non-insulin substance (Diazoxide works by stopping insulin production so if that’s not the problem, the drug doesn’t do much). Their cash burn was $30M in 2024 and $24M in 2023. Diazoxide and glucocorticoids to treat the hypoglycemia. the market cap is $245M.
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