Coverting a “Fixed” to a “Floating” NPRI: What (If Anything) Does ConocoPhillips v. Hahn Add to the Conversation?
In ConocoPhillips Co. v. Hahn,12024 Tex. LEXIS 1180. the Supreme Court of Texas addressed whether a “fixed” nonparticipating royalty interest (“NPRI”) was later converted to a “floating” NPRI.2A “fixed” or “fractional” NPRI is a free royalty that conveys a fixed share of production and does not change depending on the royalty set forth in an oil and gas lease.…