Texas Pacific Land Trust Announces Arbitration Settlement with Chevron U.S.A., Inc.
15 September 2017 - 6:30AM
Business Wire
Texas Pacific Land Trust (NYSE: TPL) announced the settlement of
a previously disclosed arbitration case with Chevron U.S.A., Inc.
involving claims for underpayment of royalties. The Trust will
receive $7,710,543.32 as part of the settlement, including
royalties that will be paid to the Trust on additional wells under
several community leases.
Texas Pacific Land Trust is not a
REIT.
This news release may contain forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements regarding the Trust's
future operations and prospects, the markets for real estate in the
areas in which the Trust owns real estate, applicable zoning
regulations, the markets for oil and gas, production limits on
prorated oil and gas wells authorized by the Railroad Commission of
Texas, expected competitions, management's intent, beliefs or
current expectations with respect to the Trust's future financial
performance and other matters. We assume no responsibility to
update any such forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170914006113/en/
Texas Pacific Land TrustRobert J. Packer, 214-969-5531General
Agent, Chief Financial Officer
Texas Pacific Land (NYSE:TPL)
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