Shell To Pay US $25M To End Royalty Underpayment Claims

Law360, New York (January 17, 2012, 5:45 PM EST) -- Royal Dutch Shell PLC will pay $25 million to settle claims it underpaid royalties for federal offshore oil and gas drilling leases in the Gulf of Mexico, the U.S. Department of the Interior said on Tuesday.

The settlement agreement covers both royalty-in-value and royalty-in-kind production from Shell deepwater leases located in the Gulf, according to the DOI's Office of Natural Resources Revenue, which is responsible for collecting and distributing revenues from energy production from federal lands both on and offshore.

The agreement covers the period of...
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