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NORTHERN TRUST CO. v. BUCKEYE PETROLEUM CO.

Civ. No. 11069.

389 N.W.2d 616 (1986)

The NORTHERN TRUST COMPANY, Plaintiff and Appellee, v. BUCKEYE PETROLEUM COMPANY, INC., Buckeye Petroleum Drilling Program 1981, Canyon State Gas & Oil 1979-3, Richard Kramer, Maria Kramer, Marie-Louise Scholle-Kramer, Total Petroleum Company, Martin Oil Company, Koch Oil Company, Murphy Oil USA, Inc., and Phillips Oil Company, Defendants, Redstone Energy Corporation, Defendant and Appellant.

Supreme Court of North Dakota.

June 19, 1986.

Attorney(s) appearing for the Case

Bjella, Neff, Rathert, Wahl & Eiken, Williston, for plaintiff and appellee; argued by Fred C. Rathert.

Rolfstad, Winkjer, McKennett & Stenehjem, Williston, for defendant and appellant; argued by Donna M. Murphy.

MESCHKE, Justice.

Redstone Energy Corporation (Redstone) appeals from a partial summary judgment permitting Northern Trust Company (Northern) to enforce an assignment of production and proceeds of production of oil and gas from the Johnson 34-1 Well in Williams County, North Dakota. We affirm.

Beginning in September 1979, Northern extended loans totaling $2,732,541.77 to Buckeye Petroleum Company, Inc. (Buckeye) pursuant to a line of credit established between...

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