An article by Jim Malewitz in The Texas Tribune, “As Oil Prices Plunge, Questions about Big Tax Credit,” sheds light on an arcane and technical issue not well understood even by most oil and gas lawyers – classification of wells as “oil wells” or “gas wells” by the Texas Railroad…
Recently some of my clients have received notices of class action settlements in Coll v. Abaco Operating, LLC, et al., in the U.S. District Court for the Eastern District of Texas, Marshall Division, C.A. No. 2:08-CV-345 TJW. The case reveals a little-known aspect of royalty payments: many companies never reimburse…
Royalty owners should be aware that they are entitled to severance tax refunds on gas wells drilled in certain “tight sand” formations, including the Barnett Shale. If a field is designated as a “tight sand,” Texas law provides for a reduction in severance tax from 7.5% to 2% for a period…