LaBarte v. Seneca Resources Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
—Amended order unanimously modified on the law and as modified affirmed without costs in accordance with the following Memorandum: Plaintiffs, the owners of real property on which there are deposits of natural gas, entered into oil and gas leases with a predecessor in interest to defendant Seneca Resources Corporation (Seneca). The leases provided that the respective plaintiffs would be paid a royalty based upon a percentage of the value of the gas produced by the wells on their property. The LaBarte lease provided that the royalty would be calculated based on the value of the gas at the…
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