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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. This represented an increase of 600 jobs in the services sector and 1,600 jobs in oil and gas extraction.
The Fifth Circuit Court of Appeals decided an interesting case involving recoupment of overpaid oil and gasroyalties. Ovintiv (formerly Encana), the operator of the wells on the property, discovered that the Richters had been overpaid approximately $608,000.00 in royalties since 2016. in royalties since 2016.
This $118 million transaction doubles the Companys present ownership interest in a portion of its Marcellus Shale royalties position (across 475,000 gross unit acres) primarily focused in Washington and Greene counties, Pennsylvania. The transaction has an effective date of January 1, 2025. Herz, Chief Executive Officer of WhiteHawk.
For Viper, it is a bit riskier as the buyer of assets, but it offers a big upside should oil and gas prices rise. Viper SWOT Viper Energy delivers strong operational results, with Q1 2025 oil production of 31,311 barrels per day and industry-leading gross profit margins of 92.92 Weak natural gas prices ($2.08/Mcf
(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.
Another case interpreting a royalty reservation in an old conveyance has been decided by the 11th Court of Appeals in Eastland: Boren Descendants and Mabee Descendants v. The deed reserves “an undivided one-fourth (1/4th) of the usual one eighth (18th) royalty.” Fasken is also the operator of wells on the 60,000 acres.
” Entropy Operational Update Entropy continues its successful operations and scale-up of carbon capture and sequestration operations at the Glacier gas plant. Fabrication is underway on all long lead items, including the Solar T130 gas-fired turbine, with construction set to begin this summer.
By EDF Blogs By Aaron Wolfe, Ari Pottens , and Scott Seymour EDF economic analysis found that in 2022 oil and gasoperators across Alberta wasted $671 million in natural gas, costing the provincial government over $120 million in lost royalties and uncollected corporate taxes.
Chevron will retain a 30% non-operated working interest in a joint venture with TGNR and an overriding royalty interest in the assets. Chevron will retain a 30% non-operated working interest in a joint venture with TGNR and an overriding royalty interest in the assets. The transaction is anticipated to generate over $1.2
(Oil & Gas 360) –MIDLAND, Texas, June 03, 2025 (GLOBE NEWSWIRE) — Viper Energy, Inc. NASDAQ:FANG) (Diamondback), and Sitio Royalties Corp. existing net DUCs and permits with an average lateral length of ~10,800 feet; Diamondback is the largest operator of these net locations with 41.1 mboe/d) Approximately 16.1
Accordingly, auditing of royalty payments was left to the Mineral Board’s internal accountants, and when an issue arose as to whether royalty payments were made correctly, the Mineral Board’s land personnel and internal counsel would oversee sending demands and pursuing litigation against the State’s mineral lessees and well operators.
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. The lessees owned working interests in certain oil and gas leases that were executed in 2007.
Dallas-based Peregrine Energy Partners said last week it acquired producing and non-producing oil and gas minerals and royalties in six states, including Texas and New Mexico. The newly acquired assets include interests in more than 1,100 producing wells operated by several of the industry’s leading companies.
Investing in oil and gasroyalties involves purchasing the rights to receive a portion of the revenue generated from the production and sale of oil and gas from a particular property or lease. Passive Income : Oil and gasroyalties can provide investors with a source of passive income.
04-23-00106-CV, the San Antonio Court of Appeals was asked to construe a royalty reservation in a 1960 deed: There is saved, excepted and reserved, in favor of the undersigned, B.A. Said interest hereby reserved is Non-Participating Royalty. Puig, Jr., as his own property free of cost forever. Nationsbank , 939 S.w.2d 2d 118 (Tex.
While 30:10 was amended during the 2022 legislative session, the amendment preserved the limited obligation of remitting the royalty and overriding royalty burdens to the nonparticipating owner for the benefit of the royalty and overriding royalty owners.
CALGARY, AB, April 28, 2025 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gasroyalty company with an established portfolio of oil focused royalties, announces results for the three-month period and year ended December31, 2024.
Pennsylvanias economy moves on natural gas and lawmakers must consider the fundamental role of this home-grown energy resource in policies going forward. Heres what he has shared: A Catalyst for Economic Growth Over the past decade, the natural gas industry has been a transformative force in Pennsylvania.
Dallas-based Elk Range Royalties said recently it acquired Newton Financial Corp., Collectively they own mineral and royalty interests across the Permian Basin in west Texas and Eagle Ford in south Texas. Elk Range buys mineral and royalty interests across multiple U.S. Concord Oil and Mission Oil.
Commingling is currently restricted to license areas that have “identical mineral ownership, royalty rates and revenue distribution”, the DOI said. “These requirements create unnecessary barriers in many areas of the West where mineral ownership is complex and varied.
CALGARY, AB, March 10, 2025 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR), a pure-play oil and gasroyalty company with an established portfolio of oil royalties, announces unaudited(1) operational and financial highlights for fiscal 2024 and the fourth quarter of 2024 (“Q4 2024”).
The lease royalty case Carl v. 2024) involved a dispute over whether the lessee was permitted to deduct volumes of gas used off the premises to power post-production activities on other gas produced from the same well. The lease provided for a royalty calculated based on the “market value at the well.”
The lease royalty case Carl v. 2024) involved a dispute over whether the lessee was permitted to deduct volumes of gas used off the premises to power post-production activities on other gas produced from the same well. The lease provided for a royalty calculated based on the “market value at the well.”
With a world-class microgrid backed by regionally produced natural gas, travelers through the Pittsburgh International Airport (PIT) can rest assured grid failures wont keep them from reaching their destination. Natural gas isnt just a fuel its the cornerstone of modern energy security. And natural gas is delivering.
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.
Image by Moussa81 via iStock New data from the Texas Workforce Commission indicate that upstream oil and gas employment climbed by 2,200 in May compared to April, and by 7,300 jobs through the first five months of 2025. percent increase and an average growth of 875 jobs per month.
In the context of antiquated oil and gas conveyances including a double fraction that includes “one-eighth,” the Court affirmed this principle by holding that such language gives rise to a rebuttable presumption that “one-eighth” refers to the entire mineral estate. Dils Co. , 2d 904 (Tex.
Plano-based Mentor Capital said last week it purchased 25.127 net royalty acres in a 71-well producing project in Permian Basin. Mentor said its royalty stream is equivalent to 12.5 percent of oil and gas revenues for its acreage.
The deal adds ~13,320 net acres and 8,700 net royalty acres to PR’s core position in Eddy County , boosting near-term production and providing long-term development upside. The company is already in active trade talks with every relevant Delaware Basin operator , aiming to optimize both legacy and new assets.
In response to today’s announcement that Viper Energy, a subsidiary of Diamondback Energy, would acquire Sitio Royalties Corp for $4.1 Now, for just the second time Enverus has tracked, two publicly traded minerals companies are combing with Viper Energy Partners buying Sitio Royalties for $4.1 billion inclusive of net debt.
(World Oil) –Rising Phoenix Capital, an investment firm specializing in oil and gas mineral royalty acquisitions, have announced a strategic purchase of mineral interests in Ector and Midland Counties, TX, operated by ConocoPhillips.
Dallas-based Elk Range Royalties said recently it closed a deal to acquire 250,000 net royalty acres from affiliates of Occidental Petroleum for $905 million. Charlie Shufeldt, CEO, said March 21, The DJ Basin presents some of the best operator economics in the U.S., Elk has deployed more than $1.2
You cant live in todays modern society without the benefits of natural gas development. Its also enhancing the broader Neighborhood 91 Area the Allegheny County Airport Authority (ACAA)s manufacturing campus by readying the site as a hub for alternative transportation fuels, including Sustainable Aviation Fuel and Compressed Natural Gas.
The report underscores a clear pivot: natural gas production growth in the Eagle Ford is expected to stall and decline into 2026 , primarily due to fewer drilling and completion activities planned by operators. Gas Forecast One of the most significant adjustments in the June forecast was a 700 MMcf/d reduction in the EIA’s 2026 U.S.
While the Court is no stranger to interpreting (and often muddling) the familiar royalty clause interpretation questions surrounding the first issue, in a case of first impression, the Court also analyzed the breadth of a lease’s free-use clause. after deductions), resulting in lower royalty payments for the royalty owners.
A mineral lease grants an operator the right to explore for and produce oil, gas, or other minerals from your property. In exchange, you can receive a bonus payment upfront and ongoing royalties from production. Royalty Rate : The percentage of production revenue you’re entitled to. What is a Mineral Lease?
A technical review by the Operator confirmed that an undrained oil resource exists on the eastern side of the Keddington field. Operator models suggest that infill drilling could enhance recoveries by 113,000 to 183,000 barrels of oil, depending on the permeability model and infill target combination.
The Link Between Oil Prices and Mineral Royalties Mineral royalties are directly tied to the price at which oil and gas are sold, which makes commodity pricing one of the most important factors influencing a mineral owners income. The total gross revenue from that sale becomes the foundation for calculating royalties.
The Texas Supreme Court recently considered oil and gas leases that involved the interaction of the “free use of gas” clause and the royalty due on gas used off the leased premises. The leases stated that Hilcorp must pay as royalties on gas. for all operations hereunder.
With the prevalence of cases involving royalty disputes in Texas, the state’s Supreme Court has never hesitated to address these issues. But the Court’s sporadic holdings regarding royalty clauses, each so specific to the particular language of the lease, have left lessees on unsteady footing. Oil & Gas Co. 2d at 120-21.
Jan 12, 2024) concerns how three related provisions in an oil and gas lease interact: (1) a royalty clause; (2) a free-use clause; and (3) an off-lease clause. Related to royalty provisions are “free-use clauses” and “off-lease clauses.” Lessees often use gas produced from a leased premises to power those processes.
The Link Between Oil Prices and Mineral Royalties Mineral royalties are directly tied to the price at which oil and gas are sold, which makes commodity pricing one of the most important factors influencing a mineral owners income. The total gross revenue from that sale becomes the foundation for calculating royalties.
Whether you own a single royalty interest or manage a large mineral portfolio, title curative work is essential to ensuring your ownership is properly documented and revenue flows without delay. Without it, operators may not pay royalties, you may not receive tax notices, and your asset’s value could be diminished.
Free-Use Clause and Further Interprets Conflicting Royalty Clause Provisions The Texas Supreme Court recently issued its anticipated decision in BlueStone Natural Resources II, LLC v. For almost a decade, the original lessee to the agreements never subtracted post-production costs from the royalty owners’ royalty payments.
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