Independent Producers Marketing Corp. v. Cobb

CARDINE, Justice.

The sole issue presented in this appeal is whether an interest penalty can be assessed against a payor who withheld royalty payments on oil or gas that was produced prior to the effective date of the Royalty Payment Act.

In 1982, the Wyoming legislature adopted an act to create §§ 30-5-301 through 30-5-303, W.S.1977, which was entitled “Payment for Oil and Gas Production Interest,” Session Laws of Wyoming, 1982, ch. 27. The Act required that lessees, operators, or their assignees pay oil and gas royalties to royalty interest owners in a timely fashion. Thus, § 30-5-301(a),…