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Gemini Insurance Co. v. Choice Exploration, Inc.

Court: ND Tx  03/04/2020  Policy Providing Coverage for Oil Well Restoration Reimbursement Depends on Parties' Agreement

A court of the Northern District of Texas held that a provision of an oil well reimbursement policy could provide coverage for reimbursement costs for restoration of oil well, even where costs were not yet incurred, pursuant to terms of the policy that allowed the parties to negotiate new coverage terms if restoration had not taken place during the contractual provided time period; thus, summary judgment was inappropriate and the parties' claims were not ripe.

oil well containment policy, oil well reimbursement policy, occurrence based policy, reimbursement costs, costs incurred, declaratory judgment, ripeness, Daniel Day-Lewis

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