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FIRST BAPTIST CHURCH v. YATES PETROLEUM

No. 30,359.

281 P.3d 1235 (2012)

2012-NMCA-064

The FIRST BAPTIST CHURCH OF ROSWELL, The Historical Society for Southeast New Mexico, Inc., and The Roswell Woman's Club, Inc., Individually and on behalf of a class of similarly situated persons and entities, Plaintiffs-Appellees, v. YATES PETROLEUM CORP., a New Mexico corporation, Defendant-Appellant.

Court of Appeals of New Mexico.

Certiorari Granted, June 13, 2012, No. 33,632.

Attorney(s) appearing for the Case

Looper Reed & McGraw, P.C., James J. Ormiston , Houston, TX, Sanders, Bruin, Coll & Worley, P.A., Kelly Mack Cassels , Roswell, NM, for Appellees.

Hinkle, Hensley, Shanor & Martin, L.L.P., Andrew J. Cloutier , Meagan M. Norris , Roswell, NM, for Appellant.

OPINION

VIGIL, Judge.

{1} This case requires us to determine whether a contractual agreement to waive interest on proceeds owed to mineral owners of the rights to a well is rendered void by the New Mexico Oil and Gas Proceeds Payment Act (the Act), NMSA 1978, Sections 70-10-1 to -6 (1985, as amended through 1991). We conclude that the Act does not render such a contract void, and the district court having ruled otherwise, we reverse.

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