Smith v. Sabine Royalty Corp.

ELLIS, Chief Justice.

Sabine Royalty Corporation brought suit against multiple defendants to establish and quiet title to an undivided ⅛ mineral interest in certain land and to obtain an accounting as to damages for conversion of ⅛ of the oil and gas produced from the land. Earl T. Smith and Earl T. Smith & Associates, Inc., two of the named defendants, hereinafter referred to as “Smith,” counterclaimed for specific performance of an alleged farmout agreement or contract covering Sabine’s ⅛ interest. The jury’s verdict was favorable to the defendants, but the trial court granted Sabine’s…