Legal Opinion
Terra Resources v. Federated Energy Commission
Louisiana Court of Appeal
Decided February 22, 1985No. CA-2144PublishedCited by 2 opinions
1Opinion of the Court
BARRY, Judge.
Terra Resources Inc. sued Federated Energy Corporation [FEC] because it failed to pay its guaranteed share of costs for drilling and completing two oil and gas wells in Terrebonne Parish. The trial court sustained FEC’s exception of prematurity and Terra appeals.
Pursuant to a Joint Venture Operating Agreement dated June 26, 1981 FEC was required to drill two oil wells. Terra was to operate the prospect and American Fluorite, Inc. and Peninsula Resources, Inc. signed as non-operators.
According to Terra’s brief American and Peninsula indicated they would not pay their allocated…
2Cases cited13 opinions
- Lambert v. Maryland Cas. Co.Supreme Court of Louisiana · 1982
- Henry v. Ballard & Cordell Corp.Supreme Court of Louisiana · 1982
- Cooley v. Meridian Lumber Co.Supreme Court of Louisiana · 1940
- Pendleton v. Shell Oil Co.Supreme Court of Louisiana · 1982
- Ferrell v. South Central Bell Tel. Co.Supreme Court of Louisiana · 1981
8 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Terra Resources, Inc. v. Federated Energy Corp.Louisiana Court of Appeal · 1987
- Terra Resources, Inc. v. Federated Energy Corp.Supreme Court of Louisiana · 1985