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EM NOMINEE PARTNERSHIP CO. v. ARKLA ENERGY RESOURCES

No. 26,795-CA.

656 So.2d 55 (1995)

EM NOMINEE PARTNERSHIP COMPANY, Quinoco Consolidated Partners, L.P., Quinoco Petroleum, Inc. and QMH Oil & Gas, Ltd., Plaintiffs-Appellants, v. ARKLA ENERGY RESOURCES, a Division of Arkla, Inc. Defendant-Appellee.

Court of Appeal of Louisiana, Second Circuit.

Rehearing Denied June 15, 1995.

Attorney(s) appearing for the Case

F. Henri Lapeyre, Jr., Matthew J. Randazzo, III, Lapeyre, Terrell & Randazzo, for plaintiffs/appellants.

Michael E. Riddick, David N. Matlock, Blanchard, Walker, O'Quin & Roberts, for defendant/appellee.

Before MARVIN, STEWART and PRICE (Pro Tempore), JJ.

PRICE, Judge Pro Tempore.

Defendant, Arkla Energy Resources (AER), entered into a compromise agreement on March 1, 1989, purporting to settle all "take or pay" claims under gas purchase contracts with plaintiffs, Quinoco Petroleum, Inc., and its affiliated entities, E.M. Nominee Partnership Company, and Quinoco Consolidated Partners, L.P. (Quinoco) and to settle and dismiss the suit filed by these plaintiffs in Caddo Parish to enforce a prior compromise of claims...

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