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Ohio’s Seventh District Court of Appeals recently interpreted two reservations of non-participating royaltyinterests (NPRIs) involving double fractions, holding that they reserved fixed, rather than floating, royalties. Ohio, LLC , 2023-Ohio-4749. Jeffers , 2023-Ohio-3653, and Crum v. Mooney , 2023-Ohio-4451.
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
In response to today’s announcement that Viper Energy, a subsidiary of Diamondback Energy, would acquire Sitio Royalties Corp for $4.1 In response to today’s announcement that Viper Energy, a subsidiary of Diamondback Energy, would acquire Sitio Royalties Corp for $4.1 billion inclusive of net debt. billion in 2022.
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 royaltyinterests 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 royaltyinterest 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. Travis Lattner, Jr., “a non-participating royalty of one-fourth (1/4th) of the landowner’s usual one-eighth (1/8th) royalty on oil and gas produced and saved from said land[.]”
The company holds 100% working interest and 98% net royaltyinterest across the greater BA-IX mining license at the Kiskunhalas project. The report includes an area of 4,000 net acres with the Development Pending sub-class for Contingent Resources.
This case presents two critical questions: Who owns subsurface caverns created by salt mining operations, and How should in-kind royalties be calculated for salt production? ” The Fifth Circuit, applying Texas law in Dunn-McCampbell RoyaltyInterest, Inc. Part II: The Royalty Calculation Dispute A.
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