Chesapeake survey loses before the Supreme Court of Wyoming – OK Energy today

Oklahoma -based City City Chesapeake Exploration LLC has lost the fight against Wyoming Supreme Court due to a contract violation involving a production company.

The judges of the Supreme Court have recently confirmed a more judgment of the court against Chesapike’s study after being tried by Morton Production Company, LLC and charged with violation of a contract, a violation of Wyoming Royalty and transformation after chesapeak revenues. The two companies have previously concluded a joint exploitation agreement on the development of oil and gas in Converse County, Wyoming. Morton is a company for the production of oil and gas based in Douglas, Wyoming.

After being tried, the study of Chesapik Chesapik grates for a breach of the contract, an unjust enrichment and a breach of the implied covenant of good faith and the honest transaction. The District Court ruled a summary decision in favor of Morton.

Chesapik appealed and the Supreme Court found that the Oklahoma City company had violated the Treaty by correcting Morton’s ownership and costs for expenses outside the twenty -1 -month restriction period indicated in the Copas Form of 1985, which was included in the joint joint Operational agreement.

The court found the language in the Copas form unambiguous and refused to consider external evidence. The court also upheld the use of the District Court of Rule 60 (a) to correct a spiritual mistake in its original order and found that Chesapik’s counterclaims had been rejected correctly, since they were memories of the summary decision on Morton’s requests. In addition, the court ruled that Chesapik had violated the WRPA by retaining production proceeds without putting the controversial funds in Escrow, as required by the Statute.