Payments

Pennsylvania Natural Gas Royalty Payments Rebound from 2016 Lows

Natural gas royalties in Pennsylvania exceeded $1 billion in 2017, the latest period for which data is available, while payments made in 2018 are projected to be even higher, according to the state’s Independent Fiscal Office (IFO).

September 24, 2019
Texas Oil, Natural Gas Royalties Climb 18% in 2018

Texas Oil, Natural Gas Royalties Climb 18% in 2018

The oil and natural gas industry paid Texas $2 billion in royalties in 2018, up 18% year/year, with most of the money directed to fund public schools and higher education.

January 18, 2019

SEC Charges Bakken Company Co-Founder, Others in Fraudulent Stock Scheme

The co-founder of a Bakken Shale midstream operator has been charged with allegedly operating a stock scheme that allowed him to collect millions in bonus payments.

March 28, 2017

Brief — PA Royalty Legislation

The Pennsylvania Senate energy committee has reported out two bills that would better protect oil and natural gas royalty interest owners. SB 138 would allow landowners to inspect the records of gas companies to verify proper payments, and SB 139 would prohibit a gas company from “retaliating” in response to landowner questions about the accuracy of those payments. The bills will now be heard by the full Senate. Similar versions failed last year after they stalled in the state House of Representatives. Pennsylvania lawmakers have tried but failed for years to pass legislation that would better protect landowners, who have, among other things, raised concerns about post-production costs being deducted from their royalties.

January 30, 2017

Federal Class Action Cases Certified in Virginia Royalty Dispute

A federal judge last Monday certified five separate class action cases against EQT Corp. and Consol Energy Corp. that could potentially add up to 15,000 plaintiffs in Southwest Virginia alleging that the companies cheated them out of millions of dollars in royalty payments (seeDaily GPI,Sept. 18). In dispute are past payments for coalbed methane (CBM) gas production in the far western corner of the state dating back 23 years.

October 4, 2013

Fifth Circuit Rules in Favor of BP on Damage Claims

A federal appeals court in New Orleans on Wednesday ordered that some payments required to be paid by BP plc be halted to Gulf Coast businesses claiming they were impacted by the Macondo well blowout.

October 4, 2013

Permian Lifts Devon’s Production Numbers

Onshore unconventional powerhouse Devon Energy Corp. plans to spend “significantly less” on exploration in 2013, but exploration activity still will remain at 2012 levels, CEO John Richels said Wednesday.

November 9, 2012

ACSF Report ‘Puts a Face’ on the Economic Stimulus of Shale Production

A report issued by American Clean Skies Foundation Thursday projects that technology-driven changes in oil and gas production since 2007 will lead to annual employment gains of 835,000 to 1.6 million new jobs nationwide by 2017 (more than the entire U.S. auto manufacturing industry), and increase the country’s gross domestic product by $167 billion to $245 billion on a net basis.

November 2, 2012

Lease Bonuses Skyrocket in Ohio, Elsewhere

Bonus payments to landowners with oil and natural gas leases climbed to new highs during the third quarter, but they skyrocketed in Ohio’s Utica Shale, according to a survey by Farmers National Co. (FNC), a real estate management firm that also tracks data for landowners.

October 15, 2012
Study: Lease Bonuses Up in Many States, Hit Jackpot in Ohio

Study: Lease Bonuses Up in Many States, Hit Jackpot in Ohio

Bonus payments to landowners with oil and natural gas leases climbed to new highs during the third quarter, but they skyrocketed in Ohio’s Utica Shale, according to a survey by Farmers National Co. (FNC), a real estate management firm that also tracks data for landowners.

October 15, 2012
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