Devon, feds reach settlement over underpaid production royalties

03/13/2012 | Oil & Gas Journal

Devon Energy will pay the federal government almost $3.5 million to settle a natural gas royalty-underpayment claim involving PennzEnergy, which Devon purchased in 1999. The settlement covers gas produced from federal onshore and offshore leases from August 1986 through Dec. 31, 2008, said the Department of Justice and the Office of Natural Resources Revenue.

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