Texas Justices Say Eagle Ford Deed Conveys Floating Royalty

Law360 (June 29, 2018, 10:51 PM EDT) -- In an Eagle Ford Shale royalty dispute, the Texas Supreme Court on Friday interpreted a deed to mean the initial property owners have the right to half of whatever royalties are paid on oil and gas produced from the land, rather than a fixed one-sixteenth royalty interest.

In a 6-3 decision, the court said the deed in question reserved “a floating one-half interest in the royalty in all oil, gas or other minerals” produced from a property in Karnes County, Texas. Floating royalties fluctuate depending on the oil and gas lease in effect at any given time, while a fixed royalty...

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