McDaniel Partners, Ltd. v. Apache Deepwater, LLC

OPINION

ANN CRAWFORD McCLURE, Chief Justice.

We consider today an oil and gas assignment executed in 1953 which provides for a production payment to the assignor. At issue is the construction of a parenthetical clause describing the manner of calculating the payment and whether the expiration of two of the four leases underlying the Assignment impacts the equation. McDaniel Partners, Ltd., appeals the trial court’s final judgment allowing for a proportionate reduction in the production payment. We reverse and render judgment for McDaniel, and remand for calculation of attorney’s fees and…