Gibbons v. Pan American Petroleum Corp.

MURRAH, Circuit Judge.

Defendant Gibbons appeals from a judgment reimbursing Pan-American Petroleum Corporation for rentals on five federal oil and gas leases paid by Pan-American to the Bureau of Land Management after the leases had been assigned to the defendant.

The underlying facts are undisputed. Before February, 1956, Pan-American held these five federal oil and gas leases, and appellant Gibbons held as trustee for various beneficial owners an overriding royalty interest therein. The leases were a part of the Hill Creek Unit Agreement1 to which both Pan-American and Gibbons were parties,…