Jodi Smith, North Dakota Land Commissioner, gives an update on the natural gas royalty payments in that companies will have to make a “good faith effort” to contact and begin working with the department on repayment within the 90 days. The deadline for the companies to pay back the money and avoid additional costs could then be extended on a case-by-case basis. Article from the Bismarck Tribune
The state Supreme Court ruled last year that oil and gas company Newfield Exploration had been underpaying royalties to the Department of Trust Lands. The decision also affects 38 other companies who have been operating under similar arrangements.
The severity of the reaction from the industry is discussed, questioning whether those in the meeting understood the impacts of the letter being sent to the operators. The question of why the meetings were behind closed doors was discussed and who was at those meetings.
The Crude Life Podcast can be heard every Monday through Thursday with a Week in Review on Friday.
Spread the word. Support the industry. Share the energy.
