O & G Carriers, Inc. v. Smith Energy 1986-A Partnership

OPINION

MIRABAL, Justice.

This is an appeal from an interlocutory order1 granting the application of appellee, Smith Energy 1986-A Partnership (Smith), for the appointment of a limited receiver of *704the proceeds of oil and gas leases in Galveston County, Texas. We affirm.

Smith and appellant, 0 & G Carriers, Inc. (0 & G), are co-owners of the working interest in certain oil and gas properties. Smith owns a 68% working interest in the lease and 0 & G owns a 32% working interest.

On May 12, 1986, as “non-operators,” Smith and 0 & G entered into an operating agreement (sometimes referred to as “the…