HOUSTON – The US Court of Appeals for the Fifth Circuit affirmed the complete dismissal of a lawsuit against Bracewell LLP client Hilcorp Energy Company after receiving answers last month from the Supreme Court of Texas to its certified questions. At issue was the proper treatment, when calculating royalty payments under a “market value at the well†lease, of produced gas that is used off the lease premises in post-production activities necessary to make other produced gas marketable for sale.
