Phillips Oil Company v. Okc Corporation
Court of Appeals for the Fifth Circuit
1Opinion of the Court
RANDALL, Circuit Judge:
Appellant, OKC Corporation (“OKC”), appeals from the district court’s grant of partial summary judgment in favor of appellee, Phillips Oil Company (“Aminoil”), 1 and the decision in favor of Aminoil on trial of the accounting portion of the action. We affirm.
I
On July 1, 1967, Aminoil, with three partners, acquired from the United States a lease covering an area in the Gulf of Mexico known as South Pass Block 89 (“Block 89”). Aminoil and its partners, known collectively as the SLAM Group, each acquired a ¼ working interest in Block 89.
According to OKC, from 1967 to 1977,…
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