{"id":3270,"date":"2023-05-31T02:13:35","date_gmt":"2023-05-31T02:13:35","guid":{"rendered":"https:\/\/nixlaw.com\/?post_type=news&#038;p=3270"},"modified":"2025-08-13T08:01:42","modified_gmt":"2025-08-13T08:01:42","slug":"what-is-statutory-interest","status":"publish","type":"news","link":"https:\/\/nixlaw.com\/es\/practice-areas\/contract-disputes-lawyers\/what-is-statutory-interest\/","title":{"rendered":"What Is Statutory Interest?"},"content":{"rendered":"\n<p>If you are entitled to royalty payments under an oil and gas lease, the oil and gas company must pay you within certain time limits set out by state law. Usually, the oil and gas company has a few months from the time the minerals are extracted from your land to pay you your share of royalty. However, it isn\u2019t unusual for companies to be late in paying property owners their royalties in the oil and gas business. Sometimes payments can be many months or years late. If that happens, you could be entitled to charge interest on the money due under state law. This is known as statutory interest.<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #000000;color:#000000\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #000000;color:#000000\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/nixlaw.com\/es\/practice-areas\/contract-disputes-lawyers\/what-is-statutory-interest\/#How_Do_Oil_and_Gas_Royalties_Work\" >How Do Oil and Gas Royalties Work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/nixlaw.com\/es\/practice-areas\/contract-disputes-lawyers\/what-is-statutory-interest\/#When_Do_Oil_and_Gas_Companies_Have_to_Pay_Royalties\" >When Do Oil and Gas Companies Have to Pay Royalties?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/nixlaw.com\/es\/practice-areas\/contract-disputes-lawyers\/what-is-statutory-interest\/#Contact_Nix_Pattersons_Oil_and_Gas_Attorneys_Now\" >Contact Nix Patterson\u2019s Oil and Gas Attorneys Now<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<p>Learn more about statutory interest in oil and gas and related information below. If you have a royalty payment and interest dispute with an oil and gas company, our <a href=\"https:\/\/nixlaw.com\/practice-areas\/oil-and-gas-disputes\/\">Nix Patterson oil and gas attorneys<\/a> can assist. Our attorneys often represent classes of underpaid royalty owners.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_Do_Oil_and_Gas_Royalties_Work\"><\/span><a><\/a>How Do Oil and Gas Royalties Work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>While a royalty interest agreement (known as a lease) often works well for all parties involved, sometimes operators don\u2019t pay royalties on time, and statutory interest comes into play. Nix Patterson frequently represents unpaid royalty owners, such as in recent class actions against XTO Energy, Apache Corporation, and Sunoco, with interests in Oklahoma oil and gas fields.<\/p>\n\n\n\n<p>In each of the class actions, the class (represented by Nix Patterson) argued that the oil and gas company was not paying royalty in a timely manner as required by state law. Instead, the companies were holding on to royalty owners\u2019 money, sometimes for months or years, to float their own operational costs. In other words, the oil and gas companies were using withheld royalty payments as interest-free loans. This is not allowed under Oklahoma law. Most states require oil and gas companies to pay interest on late royalty payments, sometimes as much as 12% or 18% compounded annually. This interest can really add up.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"When_Do_Oil_and_Gas_Companies_Have_to_Pay_Royalties\"><\/span><a><\/a>When Do Oil and Gas Companies Have to Pay Royalties?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The rules differ by state. For example, according to the statute in Texas, oil and gas production royalties are due on or before 120 days after the end of the month of the initial sale of oil or gas from the well. This provides the operators four months after the well starts producing to get a title curative, establish a pay deck for the oil or gas well, send division orders to the assorted owners, and begin paying royalties.<\/p>\n\n\n\n<p>After that, royalties must be paid 60 days for oil and 90 days for gas after the conclusion of the calendar month in which the well production is sold. However, operators are not required to make royalty payments on time if the owner doesn\u2019t sign a division order or if the owner\u2019s interest involves a title defect.<\/p>\n\n\n\n<p>If you receive oil and gas royalties in Oklahoma, the operator must pay within six months of the initial sale of production and by the end of the second month after subsequent sales. If they don\u2019t pay on time, you must be paid 12% interest compounded annually on the unpaid amounts as a royalty owner. Even if you are entitled to statutory interest, the operator might not pay you automatically. Therefore, you may need to ask for <a href=\"https:\/\/www.oscn.net\/applications\/oscn\/DeliverDocument.asp?CiteID=80938\" target=\"_blank\" rel=\"noreferrer noopener\">statutory interest payments<\/a> from the operator.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Contact_Nix_Pattersons_Oil_and_Gas_Attorneys_Now\"><\/span><a><\/a>Contact Nix Patterson\u2019s Oil and Gas Attorneys Now<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Investing in oil and gas can be profitable, but there can be headaches, as well. If you or your organization has an oil and gas dispute involving late royalty payments and statutory interest, Nix Patterson can help. <a href=\"https:\/\/nixlaw.com\/contact\/\">Contact our oil and gas attorneys today<\/a> for a complimentary consultation.<\/p>\n","protected":false},"featured_media":3271,"parent":0,"menu_order":0,"template":"","meta":{"_acf_changed":false},"categories":[1],"tags":[],"news_attorney_categories":[],"news_categories":[],"news_practice_areas":[293],"news_years":[],"class_list":["post-3270","news","type-news","status-publish","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is Statutory interest | Nix Patterson LLP<\/title>\n<meta name=\"description\" content=\"If you aren\u2019t being paid your oil and gas royalty payments on time, you could be entitled to statutory interest, and Nix Patterson can 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