Texas Court Affirms Chesapeake's Win In Oil Lease Row

Law360, New York (November 7, 2013, 5:08 PM EST) -- A Texas appeals court ruled Wednesday that Chesapeake Exploration LLC and Anadarko Petroleum Corp. maintained the right to extract minerals at a deeper level on a block of land, defeating Community Bank of Raymore's breach of contract suit over the block's oil and gas lease.

A three-judge panel of the Eighth District Court of Appeals affirmed a trial court's ruling that the 2005 lease granting Chesapeake and Anadarko the rights to extract the minerals didn't terminate after the primary term had expired in January 2010 because...
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