Production in Paying Quantities: Second Circuit Holds Lower Courts Must Consider All Relevant Factors, Not Just Profit
The Energy Law
MARCH 3, 2016
The Middleton plaintiffs filed suit in 2013 claiming that three mineral leases maintained by a unit well had terminated because the well failed to produce in paying quantities for a 41-month period from August 1991 to December 1994. Firstly, the decision reaffirms that extraordinary, nonrecurring expenses are not operating expenses.
40 
Let's personalize your content