Shore Exploration & Production Corp. v. Exxon Corp.

MEMORANDUM OPINION

BUCHMEYER, Chief Judge.

This oil and gas case involves a dispute about leasehold interests lost. In simple terms, Shore assigned oil and gas leasehold interests to Defendants (Exxon, Texaco, and Eastern) in which it retained a royalty interest. Each of the leases changed hands, all ultimately ending up in the hands of Eastern. The leases were lost when the Eastern failed to pay the delay rentals. 1 Shore claims that had it received notice that the delay rentals would not be paid on the leased property, it could have exercised its rights to pay the delay rentals itself and to…