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OIL AND GAS - Lease or license for production - Working interest - Participation agreement - Overriding royalties

Thursday, July 13, 2017 @ 12:41 PM  

Appeal by the plaintiff, IFP Technologies (Canada) Inc., from the dismissal of its action against the defendants for damages for breach of contract. The parties were multinational companies who entered a contract in respect of a Canadian oil and gas partnership at an Alberta property known as Eyehill Creek. The defendants included PanCanadian Resources (PCR) and its corporate predecessors and successors. The plaintiff and PCR entered an agreement whereby PCR granted the plaintiff a 20 per cent working interest in Eyehill Creek in consideration of the...