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INDEPENDENT PRODUCERS MARKETING CORP. v. COBB

No. 86-30.

721 P.2d 1106 (1986)

INDEPENDENT PRODUCERS MARKETING CORP., formerly known as The Crude Company, Appellant (Defendant), v. Kristie R. COBB, Appellee (Plaintiff).

Supreme Court of Wyoming.

July 21, 1986.

Attorney(s) appearing for the Case

Keith P. Tyler and Carl J. Hildebrand, Casper, for appellant. R. Stanley Lowe, Morris G. Gray and D. Thomas Kidd filed an amicus curiae brief for Rocky Mountain Oil and Gas Ass'n.

Michael D. Zwickl, Casper, for appellee.

Before THOMAS, C.J., and BROWN, CARDINE, URBIGKIT and MACY, JJ.

CARDINE, Justice.

The sole issue presented in this appeal is whether an interest penalty can be assessed against a payor who withheld royalty payments on oil or gas that was produced prior to the effective date of the Royalty Payment Act.

In 1982, the Wyoming legislature adopted an act to create §§ 30-5-301 through 30-5-303, W.S. 1977, which was entitled "Payment for Oil and Gas Production Interest," Session Laws of Wyoming, 1982, ch. 27. The Act...

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