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Garland Coal & Mining Co., 382 P.2d 109 (Okla. 1962), is a US contract law case decided by the Supreme Court of Oklahoma. It concerns the question of when specific performance of a contractual obligation will be granted and the measure of expectation damages .
When a mineral owner signs a lease, he receives a royalty interest. Overriding Royalty Interest: An overriding royalty interest is a share of income received, unconnected to either mineral ownership or working interest. A person or company may receive an overriding royalty by a contract with an owner of a net revenue interest.
A surface use agreement (SUA) is a contract between a property owner and a mineral rights holder that dictates how the mineral rights are to be developed. [20] Meaning, when mineral rights are extracted by a company that does not own the property above where the minerals are located, the company has the legal right to extract those minerals ...
In production sharing agreements the country's government awards the execution of exploration and production activities to an oil company. The oil company bears the mineral and financial risk of the initiative and explores, develops and ultimately produces the field as required. When successful, the company is permitted to use the money from ...
The body of a production sharing contract layouts the production share between the contractor(s) and the state or its state-owned oil company. Typically, most of the early production will be set aside for recovering the costs incurred during development by the contractor (cost oil), while the state receive an increasing share of production ...
In the oil and gas industry, a farmout agreement is an agreement entered into by the owner of one or more mineral leases, called the "farmor", and another company who wishes to obtain a percentage of ownership of that lease or leases in exchange for providing services, called the "farmee." The typical service described in farmout agreements is ...
Kerr-McGee held substantial mineral rights on the Navajo Nation and filed a lawsuit in the federal district court seeking an injunction to prohibit the tribe from collecting the tax. Kerr-McGee argued that any tax of non-Indians by a tribe required approval by the Secretary of the Interior and the district court agreed, granting the injunction.
“APCO” was a common acronym used within the Anderson-Prichard Oil Corporation since its founding in 1922. As early as 1926, Anderson-Prichard began attempts at trademarking the acronym, first through overtures to the American Pacific Company, and later through communications with the American Oil Company, whose trading name AMOCO was thought to be too similar.
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