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12/19/07), the court addressed the payment of royalties and penalties under Mineral Code article 212.23(c) c) and concluded that plaintiff’s letters were insufficient to trigger the provisions of that article. Next, the court noted the dearth of reported cases involving Mineral Code articles 212.21-23 31:212.21).
This article discusses a couple more cases in 2024. In each of these cases, one side successfully argued that the Van Dyke presumption applied, and the other side unsuccessfully argued that it was rebutted. Many anticipate that double-fraction cases will continue to steadily flow through Texas courts for the foreseeable future.
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 support of that notion, the Court cited the 1957 Texas Supreme Court case Garrett v. Dils Co. , 2d 904 (Tex. Element Petroleum Props., 11-21-00103-CV (Tex.
Viper Energy (VNOM) presents a compelling case for investors seeking exposure to the energy sector through a mineral rights business model. Post-deal, Viper will have exposure to 75 percent of Diamondback’s planned wells over five years, with a 6 percent net royaltyinterest.
The current proposed bill, however, would require operators to remit all royalty payments directly to the lessors on behalf of nonparticipating working interest owners prior to well payout, i.e., during the recoupment of costs, and the statutorily authorized risk charge. Communications include firm news, insights, and events.
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.
the Louisiana Second Circuit upheld a trial court’s ruling that the holder of a security interest in mineral leases was solidarily liable for damages under the Louisiana Mineral Code stemming from its mineral lessees/mortgagors’ actions. [1] in unpaid royalties and an additional double damages penalty of $484,058.52 4] $242,029.26
Anything to the contrary herein notwithstanding, it is expressly provided that the terms of this paragraph shall be controlling over the provisions of Paragraph 3 of this lease to the contrary and this paragraph shall not be treated as surplusage despite the holding in the cases styled “Heritage Resources, Inc. NationsBank”, 939 S.W.2d
The Eagle II case is the second case that arose between TRO-X, L.P. (“TRO-X”) 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. , 18-0983, 2021 WL 1045723, at *1 (Tex.
The Eagle II case is the second case that arose between TRO-X, L.P. (“TRO-X”) 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. , 18-0983, 2021 WL 1045723, at *1 (Tex. 19, 2021) (“ Eagle II ”).
This article briefly describes four structured capital raising techniques that may be available to meet those needs: (1) convertible debt instruments; (2) convertible or non-convertible preferred equity instruments; (3) preferred limited partnership interests; and (4) debt instruments issued with “equity kickers”.
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