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Another Look at Recent Rulings by WV Supremes re Royalty Deductions

Marcellus Drilling News

The West Virginia Supreme Court recently issued two 3-2 decisions reinforcing that oil and gas producers generally cannot deduct post-production costs from royalty payments to mineral owners unless lease agreements explicitly permit such deductions. BB Land LLC on “in-kind” royalty.

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WV Supreme Court Grants Landowners Second Major Win in a Week

Marcellus Drilling News

In April, MDN told you that the West Virginia Supreme Court was scheduled to hear oral arguments in two important oil and gas royalty cases (see WV Supremes Hear Oral Arguments in 2 Important O&G Royalty Cases). Earlier this week, MDN reported the WV Supreme Court had ruled on the first of the two cases,

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WV Supremes Rule on “In-Kind” Royalties & Post-Production Deductions

Marcellus Drilling News

In April, MDN told you that the West Virginia Supreme Court was scheduled to hear oral arguments in two important oil and gas royalty cases (see WV Supremes Hear Oral Arguments in 2 Important O&G Royalty Cases). One of those two was Kaess v. BB Land LLC, a case we were not previously aware of.

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Texas oil and gas jobs increased in May despite market turmoil, new report says

Oil & Gas 360º

(World Oil) – Citing the latest Current Employment Statistics (CES) report from the U.S. Bureau of Labor Statistics (BLS), the Texas Independent Producers and Royalty Owners Association (TIPRO) has highlighted new employment figures showing an increase in upstream employment in Texas in the month of May.

Gas
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Rising Phoenix Capital expands Midland basin footing with strategic acquisition

Oil & Gas 360º

(World Oil) – Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, today announced a new strategic acquisition in the Midland basin.

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Recoupment of Overpaid Oil and Gas Royalties

Texas Oil & Gas Attorney

The Fifth Circuit Court of Appeals decided an interesting case involving recoupment of overpaid oil and gas royalties. in royalties since 2016. in royalties since 2016. Equitable recoupment is a commonly accepted remedy in the oil and gas industry. In DDR Weinert, Ltd. Ovintiv USA, Inc. ,

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Diamondback subsidiary Viper acquires Sitio Royalties in $4.1 billion deal

Permian Basin Oil and Gas Magazine

Midland-based Viper Energy, subsidiary of Diamondback Energy, said Tuesday it agreed to acquire Sitio Royalties in an all-equity transaction valued at $4.1 Viper is now clearly a must-own public mineral and royalty company in North America with attractive size and scale in the Permian Basin.” The agreement, which includes Sitio’s $1.1