Texas landowners sue Devon, BPX for $100M in case that could prompt ‘new era’ for royalties
The legal battle is the latest in a cold war between landowners and oil and gas companies over how to calculate royalties, the portion of proceeds from production that landowners can collect.
It remains to be seen how many other leases the ruling could affect. According to the Texas Oil and Gas Association, a trade group representing the industry in Texas, the implications could be broad. TXOGA asked the state Supreme Court to reconsider its ruling. "Assuming you could do math on your fingers and toes you could pretty much figure out what your royalty was," he said."Today, that ain't the case."
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