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FIRST CITY NAT. BANK OF MIDLAND v. CONCORD OIL CO.

No. 08-90-00233-CV.

808 S.W.2d 133 (1991)

FIRST CITY NATIONAL BANK OF MIDLAND, Successor Independent Executor of the Estate of Boyd Laughlin, et al., Appellants, v. CONCORD OIL COMPANY, Appellee.

Court of Appeals of Texas, El Paso.

March 13, 1991.

Attorney(s) appearing for the Case

William B. Browder, Jr., Stubbeman, McRae, Sealy, Laughlin & Browder, Midland, for appellants.

Richard C. Danysh, Matthews & Branscomb, San Antonio, for appellee.

Before OSBORN, C.J., and WOODARD and KOEHLER, JJ.

OPINION

KOEHLER, Justice.

In a case involving the interpretation of an assignment of two oil and gas leases which called for the termination of production payments when at a time in the future "there remains unproduced 10% of the commercially recoverable liquid and gaseous hydrocarbons in and under such tract[,]" the court held that the payments were to terminate when oil production produced after July 1, 1974 from the two leases equalled 84,366 barrels...

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