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Todays transaction marks our sixth acquisition over the last three years and the third acquisition of royaltyinterests on these assets, which have continuously outperformed our expectations and fully consolidates these positions into WhiteHawk, stated Daniel C. Herz, Chief Executive Officer of WhiteHawk.
Whether you own a single royaltyinterest or manage a large mineral portfolio, title curative work is essential to ensuring your ownership is properly documented and revenue flows without delay. These defects can include missing documents, unreleased liens, outdated probate records, or improperly executed deeds.
Additionally, the court considered that the deed used the word “Grantors” in other parts of the document but switched to “landowner’s usual 1/8 royalty” in the granting clause. But generally, the royaltyinterests at issue affected over 300 individuals. By way of background, in 1955 J.D.
existing net DUCs and permits with an average lateral length of ~9,500 feet PRO FORMA HIGHLIGHTS Approximately 85,700 net royalty acres in the Permian Basin; ~43% operated by Diamondback Pro forma Viper owns an average 1.8% About Sitio Royalties Corp. billion which equates to less than 1.0x mboe/d) Approximately 16.1
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. In short, the court held that mere ratification of a lease does not alter a fixed NPRI.
Recently, when there was talk about Houston-based ATP Oil and Gas’ (ATP) legal problems, it was inevitably about its bankruptcy and its effort to bring the overriding royaltyinterests it had conveyed back into the bankrupt estate as debt instruments.
In addition, the correction deed used materially similar language to describe the reservation, and then closed by summing up the parties’ intent "that [the royalty holders] shall receive a total royaltyinterest of 1/8 of all the oil, gas, or other minerals (except sulphur) produced from said land."
The existing equity for corporations is represented by shares of stock, and the issuance of additional shares of stock typically is addressed in the certificate of formation, by-laws, articles of incorporation or other organizational documents. Finally, there are SMBs organized as limited partnerships under state law.
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