Exxon Mobil Corporation has filed a brief asking the Texas Supreme Court to reject a new trial for a group of oil and gas royalty owners who say that the company gave them false information regarding the performance of their wells. According to the potential plaintiffs, that information allegedly induced them to take a disadvantageous deal with another company.<\/p>\n
The royalty owners claim that Exxon misrepresented the facts regarding the productivity of their wells in an attempt to negotiate a different royalty rate. After the royalty owners refused to accept less than a 50 percent rate, Exxon terminated the drilling contracts. Later, the owners negotiated a separate deal with a different company for a 30 percent royalty rate. The leaseholders claim that their reliance on alleged misrepresentations by Exxon led them to accept a bad deal.<\/p>\n
Exxon’s brief to the Texas Supreme Court claims that the owners could not have relied on Exxon’s (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Exxon Mobil Corporation has filed a brief asking the Texas Supreme Court to reject a new trial for a group of oil and gas royalty owners who say that the company gave them false information regarding the performance of their…<\/span><\/p>\n