Exxon's XTO to Pay $16 Million to Resolve Gas-Royalty Case -- Update
01 Novembre 2023 - 6:02PM
Dow Jones News
By Dean Seal
Exxon subsidiary XTO Energy has agreed to pay $16 million to
resolve claims that it knowingly underpaid royalties owed on
natural gas extracted from federal and Native American lands.
The U.S. Department of Justice alleges that between 2009 and
2017, the oil and natural-gas company failed to pay royalties on
carbon dioxide and improperly deducted both carbon-dioxide
transportation costs and costs necessary to put extracted gas into
a marketable condition.
The actions allegedly violate the False Claims Act, which
stipulates that lessees of federal and Native American lands must
put gas in a marketable condition at no cost the U.S.
XTO and the DOJ have agreed to settle the allegations with no
determination of liability.
The Exxon unit said in a statement that it "never viewed this as
a False Claims Act case."
"This was a difference of opinion over the non-binding nature of
agency guidance and other typical royalty issues," the company said
in a statement. "We were happy to resolve this long-standing
matter."
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 01, 2023 12:47 ET (16:47 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juin 2024 à Juil 2024
Exxon Mobil (NYSE:XOM)
Graphique Historique de l'Action
De Juil 2023 à Juil 2024
