A group of oil and gas lessors/royalty owners — who won more than $21 million on fraud and breach of lease claims at trial but lost in the court of appeals — prevailed today in the Supreme Court of Texas.
A rarity for the producer-leaning Court, the 9-0 decision in Hooks v. Samson Lone Star, Ltd. P'ship, No. 12-0920 (Tex. Jan. 30, 2015), addresses several important oil and gas issues. They include:
- whether false information in the public record can defeat a limitations defense;
- the effect of a most-favored-nations clause on royalty obligations;
- waiver of a claim for breach of a promise to drill an offset well;
- calculation of post-judgment interest.
Blawgletter will provide specifics as time permits.