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FREEPORT-McMORAN INC. v. TRANSCONTINENTAL GAS

No. 2004 CA 0031.

924 So.2d 207 (2005)

FREEPORT-McMORAN, INC. and FM Properties Operating Company v. TRANSCONTINENTAL GAS PIPE LINE CORPORATION and Transco Energy Company.

Court of Appeal of Louisiana, First Circuit.

October 14, 2005.

Attorney(s) appearing for the Case

John M. Wilson, Jonathan A. Hunter, Brian A. Jackson, Jana L. Grauberger, New Orleans, Counsel for Plaintiff/Appellant IMC Global, Inc., as successor of Freeport-McMoran, Inc. and FM Properties Operating Company.

Leo C. Hamilton, Jude C. Bursavich, Baton Rouge, Timothy J. Herman, Matthew R. Beatty, Austin, TX, Counsel for Defendant/Appellee Transcontinental Gas Pipe Line Corporation and Transco Energy Company.

Before: GUIDRY, GAIDRY, and McCLENDON, JJ.

GAIDRY, J.

This appeal involves the interpretation of "excess royalty" provisions in two settlement agreements entered into by a natural gas producer and a purchaser. For the following reasons, we affirm the judgment of the trial court.

FACTS AND PROCEDURAL HISTORY

Plaintiffs, Freeport-McMoran, Inc. and FM Properties Operating Co. (collectively "Freeport") leased offshore land from the Department of the Interior, Minerals Management Service ("MMS...

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