Zurich American Insurance Co. v. Hunt Petroleum (AEC), Inc.

OPINION

YATES, Justice.

This is a case involving liability for damage to an oil drilling rig caused by its submersion in saltwater floods during a tropical storm. Appellant and appellee have differing interpretations of the relevant contract, and each moved for summary judgment. At issue is the propriety of the trial court’s granting the appellee’s motion for summary judgment and denying the appellant’s motion. Because we find a fact issue regarding an essential phrase in the contract and that the contract is ambiguous as it is subject to more than one reasonable but conflicting interpretation,…