UNIVERSAL RES. CORP. v. PANHANDLE E. PIPE LINE CO.

No. 86-1420.

813 F.2d 77 (1987)

UNIVERSAL RESOURCES CORPORATION, Plaintiff-Appellee Cross-Appellant, v. PANHANDLE EASTERN PIPE LINE COMPANY, Defendant-Appellant Cross-Appellee.

United States Court of Appeals, Fifth Circuit.

March 31, 1987.


Attorney(s) appearing for the Case

Jacks C. Nickens, Houston, Tex., Michael Byrd, Akin, Gump, Strauss, Hauer & Field, Dallas, Tex., for defendant-appellant cross-appellee.

Dan S. Boyd, Johnson & Swanson, Dallas, Tex., for plaintiff-appellee cross-appellant.

Before REAVLEY and RANDALL, Circuit Judges, and WOODWARD, District Judge.


WOODWARD, District Judge:

FACTS

This is a diversity case arising out of the breach of a Gas Purchase and Sales Agreement between Universal Resources Corporation (URC) and Panhandle Eastern Pipe Line Company (Panhandle). URC is a nonoperating cotenant owner of gas wells in Oklahoma. URC, as seller, and Panhandle, as buyer, entered into a fifteen-year gas purchase and sales agreement (Agreement) in 1982. Under the Agreement, URC is required to tender for delivery...

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