Royalty owners have asked the Texas Supreme Court to allow litigation to move forward in their $21 million royalty lawsuit against Exxon Mobil after a new trial was granted on appeal.<\/p>\n
The royalty owners accuse Exxon of falsely informing them that the productivity of their wells was diminishing. This allegedly caused them to sell the oil and gas interests to a different buyer for less than their true value. <\/p>\n
The dispute has been in litigation since 1996, having already reached the Texas Supreme Court in 2009 on different issues.<\/p>\n
The royalty owners claim that they relied on false statements by Exxon about the value of the wells when they sold the leases to another company at a reduced rate. According to the royalty owners, Exxon claimed that the wells had only two years of production left, when in reality, they had 12. When the royalty owners refused to accept less than the 50 (more…)<\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Royalty owners have asked the Texas Supreme Court to allow litigation to move forward in their $21 million royalty lawsuit against Exxon Mobil after a new trial was granted on appeal. The royalty owners accuse Exxon of falsely informing them…<\/span><\/p>\n