Norsul Oil Min. Co., Ltd. v. Texaco, Inc.

1 Citing case

  1. Norsul Oil Min. Co., Ltd. v. Texaco, Inc.

    703 F. Supp. 1520 (S.D. Fla. 1988)   Cited 3 times

    Under that agreement, the defendants took over the plaintiff's right to explore and exploit for oil in a concession area in Ecuador in consideration for which the defendants paid $100,000 and agreed to pay the plaintiff and another company royalties amounting to two percent of the oil actually produced in the concession area. (the "overriding royalty"). The court has previously determined some of the trial issues in this case; see Norsul Oil and Mining Company, Ltd., v. Texaco Inc., 641 F. Supp. 1502 (S.D.Fla. 1986). As more fully set forth hereafter, the court now concludes that the plaintiff is entitled to recovery on two of its claims, namely breach of contract with respect to certain payments of royalties during 1973-1974, and for failure of the defendants to pay royalties on the oil produced at the well known as Shushufindi # 1, from 1976 to the present.