First National Bank in Weatherford, Texas v. Exxon Corp.

GREENHILL, Chief Justice.

This is a suit to recover allegedly deficient royalty payments. The question presented is whether gas sales in the intrastate market constitute comparable sales for the purpose of determining the value of gas dedicated to the interstate market. The trial court held that the two were not comparable, and a majority of the Court of Civil Appeals agreed. 597 S.W.2d 783. Considering, among other things, that several other cases are pending involving the same or related questions, 1 we granted the writ of error. We affirm.

The facts are undisputed. In 1960, the First…