Liskow Attorney Robert Theriot Wins $62 Million Arbitration Award in Royalty Dispute
Robert Theriot, serving as lead trial counsel for Tri-Star Petroleum Company, won a $62 million arbitration award for additional overriding royalties against producing affiliates of Santos Ltd. Tri-Star, a Houston based oil and gas exploration company, initially discovered and continues to hold interests in several coal seam gas fields in Queensland, Australia. Tri-Star claimed that Santos undervalued royalties due on gas produced and sold through Santos’ Gladstone LNG export project. The dispute, governed by Texas law under the parties’ royalty contract, involved several complex issues of Texas oil and gas and royalty law. After a multi-day hearing in Houston, the arbitrator awarded Tri-Star the full amount sought for additional royalties on the LNG project gas. The award has since been collected in full. Santos was represented by Vinson & Elkins. Related court proceedings are in the matter Tri-Star Petroleum Co. v. Santos TPY Corp et. al, No. 2019-61685 (129th JDC, Harris Cty., TX).