I’ve been asked what is a “net royalty acre.” The term “net royalty acre” is used by mineral and royalty buyers to price a mineral or royalty interest that is subject to an oil and gas lease. It is related to, but different from, a “net mineral acre.” To illustrate,…
Like most subjects, understanding oil and gas law is often a matter of knowing the terminology – WI, RI, ORRI, NPRI. These terms are often used in a confusing way and the definitions sometimes overlap. So I’m going to try to clear things up. It all starts with the mineral…
Dragon v. Trial, from the San Antonio Court of Appeals, No. 04-16-00758-CV, decided November 8, is a case that may be of interest only to title attorneys and landmen and those of us who delight in the minutiae of land titles. It is also, like many title disputes, the story…
In 2013, the Texas Legislature passed House Bill 724, creating the Texas Unclaimed Mineral Proceeds Commission, and charged the commission to study and provide recommendations regarding distribution of unclaimed mineral proceeds held by the Texas Comptroller of Public Accounts. The bill was sponsored by State Representative Ryan Guillen. The Commission…