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IN RE BUTTES GAS AND OIL

Bankruptcy No. 85-07494-H3-11.

72 B.R. 236 (1987)

In re BUTTES GAS AND OIL, Debtor. FARMERS UNION CENTRAL EXCHANGE, INC., Movant, v. SECURITY PACIFIC NATIONAL BANK, et al., Respondent.

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

March 12, 1987.

Attorney(s) appearing for the Case

Lenard M. Parkins, Sheinfeld, Maley & Kay, Houston, Tex., for debtor.

Alan S. Gover, Weil, Gotshal & Manges, Houston, Tex., for respondent.

N. Wyatt Collier, Houston, Tex., for movant.

ORDER

LETITIA Z. TAITTE, Bankruptcy Judge.

Came on for hearing the Motion for Relief From Stay on Farmers Union Central Exchange, Inc. (Cenex) to permit offset, and after considering the stipulations of the parties, the memoranda of authority, and the argument of counsel the Court enters the following Order:

I. Facts

Pursuant to an Operating Agreement dated February 1, 1973, Cenex was designated operator of the Miller 7X.2 well in...

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