Exxon Corp. v. Emerald Oil & Gas Co., LC

After issuing our opinion, we granted the parties’ motions for rehearing on November 20, 2009 and obtained further briefing from the parties. On December 17, 2010, we issued an opinion on rehearing and modified our judgment. Thereafter, the parties filed second motions for rehearing. Today, we deny the parties’ motions, but withdraw our opinion of December 17, 2010 and substitute the following opinion. Our judgment remains unchanged from the one issued December 17, 2010.

In this oil and gas dispute, royalty owners and an oil and gas lessee allege that the previous lessee failed to fully…