Oklahoma - Oil & Gas

摘要

Letter Agreement Held Not to Allow Repeated Sale of Working Interest In Wytex Production Corp. v. XTO Energy, Inc.,No. CIV-12-339-JHP, 2014 WL 3729147 (E.D. Okla. July 25,2014), the court held that a letter agreement did not allow an assignor to sell its retained interest to an assignee for the full price per acre each time a well was drilled. Pursuant to a letter agreement, Wytex Production Corporation (Wytex) sold its interest in several leases to XTO Energy, Inc. (XTO), but retained a working interest in the net acres sold (among other interests).