Petrohawk Properties, L.P., and P-H Energy, L.L.C. v. Noel Diane Jones

OPINION •

Bailey C. Moseley, Justice

1. Background

In 2008, oil and gas companies descended on east Texas and Louisiana seeking to acquire leases to exploit the Haynesville Shale formation, which they viewed as having enormous potential. The atmosphere created by these companies was described as “unreal,” “a land rush,” and comparable to a gold rush. David Deffenbaugh, Petro-hawk Properties, L.P.’s, vice president of land — midcontinent at the time, testified that in his thirty years in the industry, he had never seen bonus prices and activity accelerate as quickly as it did during the…