(Download) "Gore Oil Co. v. Roosth" by In the Court of Appeals for the First District of Texas # eBook PDF Kindle ePub Free
eBook details
- Title: Gore Oil Co. v. Roosth
- Author : In the Court of Appeals for the First District of Texas
- Release Date : January 20, 2005
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 57 KB
Description
The issue in this appeal is whether the grantors or the grantees successors-in-interest should bear the burden of outstanding mineral and nonparticipating royalty interests. Appellees, Steve Roosth, Trustee; New Horizons Oil & Gas, Ltd.; and John D. Procter, Trustee, are successors-in-interest to the grantor, Peyton McKnight. Appellees brought suit against the leasehold interest owners and others after the leasehold interest owners failed to pay appellees the full amount to which they claimed to be entitled. Appellees sought a declaratory judgment as to their proportionate share of the royalties, sought damages for conversion, and requested attorneys fees. Appellees contended that the reservation made by McKnight was in addition to the previous outstanding mineral and royalty interests. The defendant leasehold interest owners contended that the reservation made by McKnight was reduced by the outstanding mineral and royalty interests. The parties entered into a stipulation regarding all of the facts other than attorneys fees. The trial court found in favor of appellees; entered judgment against the leasehold interest owners for past royalties in the amount of $271,210.21; awarded prejudgment interest in the amount of $29,838.14; and awarded attorneys fees in the amount of $45,180.12, plus $35,000.00 if the judgment is affirmed in the court of appeals, plus another $25,000.00 if the judgment is affirmed in the Texas Supreme Court. The leasehold interest owners appeal. We modify and affirm.