Court approves distribution of $ 24 million in Eagle Ford royalties

Law360 (July 2, 2021, 7:08 p.m. EDT) – A Texas federal court on Friday approved the distribution of a $ 24.4 million cash settlement between a unit of Repsol SA and thousands of royalty owners who accused a company Repsol acquired of bypassing them on payments.

The funds come from a $ 24.4 million cash commitment by Repsol Oil and Gas USA LLC to terminate the Eagle Ford Shale royalty owners class action lawsuit alleging that Talisman Energy Inc., which was acquired by the Spanish oil giant Repsol SA in 2015, underpaid them. The company has also agreed to waive any claims to recover more than $ 12 million in overpayments made by Talisman to …

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