Coogan v. Arkla Exploration Co.

HARGRAVE, Justice:

In this appeal from Corporation Commission Order No. 127203, the appellants, Fred L. Coogan, Jr., and Grady Wallace, argue the Corporation Commission committed reversible error in setting a lease bonus of $35. per acre and a Vs royalty in lieu of participation in a forced pooling order because that figure was testified to be the prior price paid for leases in the area. The appellants state the only proper evidence of value is fair market value and then contend the only admissible evidence before the Commission relating to fair market value conclusively establishes the…