Smith, et. al. v. Kodiak Resources & BBC Operating

N/A

OUTCOME: Declaratory Judgment terminating subject leases.

Clients were lessors under leases with 3 year primary term. Operators attempted to hold leases by including a fraction of leased acreage in two 1,400+ acre units, thus substantially diluting clients' ... royalty interest. Clients sought to terminate leases for failure to comply with pooling provision. Court agreed and entered declaration that leases terminated, freeing up acreage for clients to lease to another.