Exxon's XTO to Pay $16 Million to Resolve Gas-Royalty Case
November 01 2023 - 12:42PM
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.
A representative for Exxon didn't immediately respond to a
request for comment.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
November 01, 2023 12:27 ET (16:27 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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