|
|
Article: Texas adds 9th company to lawsuit claiming underpayment of royalties. (Texas General Land Office)
- Article from:
- The Oil Daily
- Article date:
- September 5, 1995
- Author:
CopyrightCOPYRIGHT 1995 Energy Intelligence Group. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
HOUSTON -- The Texas General Land Office added another oil company -- and may yet name more -- to the class-action suit it filed in July against eight major producers, claiming they pay too little in royalties for Texas crude.
Union Pacific Resources Co. (UPRC) in Fort Worth is the latest company accused by state officials of paying "posted" prices for crude supplies that are less than the prices obtained by its marketing affiliate when that oil is resold on the spot market.
The litigation may be expanded to include more Texas oil producers, Texas officials said.
"There's no time limit on the inclusion of other oil companies as we develop information," ...