Natural gas royalties for the Alberta government will all but disappear this year as the Covid-19 pandemic finishes off their long decline as the bygone top source of revenue, Finance Minister Travis Toews predicted Thursday. In a new treasury forecast, gas receipts plummet to C$77 million ($58 million) in for fiscal year 2020-2021, which began…
Articles from Royalties
Texas Natural Gas, Oil Industry in FY2019 Generated $16B-Plus in Taxes and Royalties
The natural gas and oil industry in Texas paid more than $16 billion last year in combined state/local taxes and in royalties, the highest in history, according to the Texas Oil & Gas Association (TXOGA).
Chesapeake Convinces Federal Court to Toss Ohio Class Action Lawsuit
A Chesapeake Energy Corp. subsidiary has for now fended off a class action lawsuit brought by landowners in Ohio that alleged that the company underpaid royalties.
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).
North Dakota Supreme Court Sides with State in Newfield Royalties Case
The North Dakota Supreme Court has sided with the state in a ruling against Newfield Exploration Co., now part of Encana Corp., which it said had underpaid oil and gas royalties.
In Another Win for Pennsylvania AG, Royalties Lawsuit Advances
A Pennsylvania appellate court handed the state attorney general’s (AG) office a victory last week, finding that it may move ahead with a wide-ranging lawsuit against Chesapeake Energy Corp. and Anadarko Petroleum Corp. for deceptive business practices.
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.
EQT Suing West Virginia Over Flat-Rate Leases, Royalties
EQT Corp. has filed a lawsuit in federal court arguing that West Virginia’s flat-rate lease statute is unconstitutional. Legislators last month passed a bill prohibiting post-production expenses from being deducted from flat-rate royalties.
West Virginia Landowners Ask Supreme Court to Hear NatGas Royalties Case
A group of West Virginia landowners has appealed to the U.S. Supreme Court to review a May opinion by the state’s highest court that found natural gas producers can deduct post-production costs from royalty payments.
Brief — Pennsylvania Protest
Roughly 150 protesters were at the Pennsylvania Capitol in Harrisburg on Tuesday for a rally urging lawmakers to pass legislation that would make it difficult for oil and gas companies to deduct post-production costs from royalty checks. Lawmakers have tried but failed for years to pass legislation to clarify the state’s Guaranteed Minimum Royalty Act of 1979, which sets forth the minimum payment to landowners but doesn’t address marketing costs and how they should be factored into royalties. Bradford County, PA, has launched a campaign to pressure lawmakers into passing state HB 1391, which may be considered in October (see Shale Daily,Sept. 9). The industry has fought against the legislation, claiming contractual disputes should be settled in court.