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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. Please go to www.whitehawkenergy.com for more information.
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% For more information, please visit www.viperenergy.com.
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. 2d 118 (Tex.
CanCambria controls a 100% working interest and 98% net royaltyinterest on over 32,500 acres of land at Kiskunhalas in the Pannonian basin, a proven, under-exploited hydrocarbon basin in southern Hungary that has produced over 12 billion BOE to date.
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.
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 addition to the estate misconception theory, the Court analyzed the “legacy of the one-eighth royalty.” Dils Co. , 2d 904 (Tex.
In response to today’s announcement that Viper Energy, a subsidiary of Diamondback Energy, would acquire Sitio Royalties Corp for $4.1 In response to today’s announcement that Viper Energy, a subsidiary of Diamondback Energy, would acquire Sitio Royalties Corp for $4.1 billion inclusive of net debt. billion in 2022.
Investing in oil and gas royalties 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 gas royalties can provide investors with a source of passive income.
explored whether an assignment of an overriding royaltyinterest, which expressly pertained to "all depths located within the geographical boundaries of the [North Pembrook Unit] as identified in the Unit Agreement," was implicitly limited to just the specific producing formation described in the referenced Unit Agreement.
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. Without it, operators may not pay royalties, you may not receive tax notices, and your asset’s value could be diminished.
The company holds 100% working interest and 98% net royaltyinterest across the greater BA-IX mining license at the Kiskunhalas project. Without limiting the foregoing, such forward-looking information includes statements regarding the Offering, Companys business plans, expectations, capital costs and objectives.
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. " The Gipses later leased the minerals to ConocoPhillips for a 1/4 royalty. ."
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
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”). When the suit went to trial, the leases subject to the Chesapeake sale had not generated any royalty income.
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”). When the suit went to trial, the leases subject to the Chesapeake sale had not generated any royalty income. The jury awarded TRO-X $7,680,000 in damages.
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. The consent decree neither defines the term “responsible corporate official.”
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