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IN RE LONGHORN OIL AND GAS CO.

Bankruptcy No. 83-04616-H2-5, Adv. No. 84-0298-H3.

64 B.R. 263 (1986)

In re LONGHORN OIL AND GAS COMPANY, Debtor. LONGHORN OIL AND GAS COMPANY, Plaintiff, v. FOX & HOLLAND, LTD., Defendant.

United States Bankruptcy Court, S.D. Texas, Houston Division.

August 14, 1986.

Attorney(s) appearing for the Case

Harry Perrin, J. Mark Davis, Maddox, Perrin, & Kirkendall, Houston, Tex., for debtor.

Charles Potter, Tyler, Tex., for defendant.

OPINION AND ORDER ON MOTIONS FOR SUMMARY JUDGMENT

LETITIA Z. TAITTE, Bankruptcy Judge.

I. Facts

On September 1, 1980, Longhorn Oil and Gas Co., Debtor, and Fox and Holland entered into an oil and gas lease operating agreement whereby the Debtor was designated as operator and Fox and Holland the non-operator. In July, 1981, Debtor completed and abandoned a dry hole known as the Red Fish Reef Well. In connection with the drilling of this well, Debtor...

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