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(World Oil) – Elk Range Royalties has announced a landmark acquisition of a significant mineral and royalty position spanning approximately 250,000 net royalty acres (NRA) in the DJ Basin from affiliates of Occidental Petroleum (Oxy). In February 2025, NGP and the Elk Range team established Elk Range Royalties III.
NASDAQ:FANG) (Diamondback), and Sitio Royalties Corp. 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% billion as of March 31, 2025.
The deal, valued at $608 million, includes 13,320 net acres, 8,700 net royalty acres and 12,000 Boe/d directly offset Permian Resources core New Mexico operating areas. Additionally, the acquired properties include high-quality non-operated acreage adjacent to and surrounding Permian Resources current position.
Chevron will retain a 30% non-operated working interest in a joint venture with TGNR and an overriding royalty interest in the assets. billion in value to Chevron at current Henry Hub prices through the multi-year capital carry, retained working interest, and overriding royalty interest.
Transaction Highlights Transforms EOG into a leading Utica E&P The acquisition of Encinos 675,000 net core acres significantly increases EOGs Utica position to a combined 1,100,000 net acres, representing more than two billion barrels oil equivalent of undeveloped net resource.
4] In 2007, Fossil Operating, Inc. Fossil”), with whom Tauren contracted to conduct operations on the property, drilled and completed wells on the leased property in Sections 9, 10, and 16. [5] 5] Chesapeake Operating, Inc. (“Tauren”) and contained a three year primary term as well as a horizontal and vertical Pugh clause. [3]
The so called “Anadarko Washout” involves a washout of oil and gas leases on undivided working interests owned by non-operating mineral cotenants. Anadarko E & P Onshore, LLC, 676 S.W.3d Anadarko E & P Onshore, LLC, 676 S.W.3d Anadarko E& P Onshore, LLC, no. 3d 73, 93 (Tex.
Visible Long-Term Synergies: Visible operating, capital and corporate synergies which, in addition to supply chain efficiencies, can generate meaningful savings. Anticipated annual synergies of over $200 million can be achieved independent of commodity prices and will begin to be captured upon closing of the transaction.
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? Anadarko E&P Onshore, LLC , 520 S.W.3d ” The Fifth Circuit, applying Texas law in Dunn-McCampbell Royalty Interest, Inc.
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. West, 508 S.W.2d
Last year, in another dispute over who should bear the cost of decommissioning offshore facilities, the Southern District of Texas held that a former sub-assignee of offshore operating rights was entitled to equitable subrogation from the record title owner and initial assignor. UNOCAL also reserved a 3% overriding royalty.
Fewer operators control larger acreages. The advantage for minerals firms is that they have no investment in equipment or drilling costs, as do E&Ps. The challenge is that they must still do geological research on formations, and then predict where the E&P is planning to drill. billion purchase of Crown Rock.
4] As it becomes faster and more efficient to extract lithium from lower-concentration oilfield brines, oil and gas operators will find themselves increasingly capable of entering the booming lithium marketplace in the next few years. 45X(c)(6)(P). [3] 30D(e)(1). [4] Communications include firm news, insights, and events.
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