U.S. Shale Energy II, LLC, Raymond B. Roush, Ruthie Roush Dodge, and David E. Roush v. Laborde Properties, L.P., and Laborde Management, Llc

Debra H. Lehrmann, Justice *150 We are asked whether the royalty interest reserved to the grantor in a 1951 deed is fixed (set at a specific percentage of production) or floating (dependent on the royalty amount in the applicable oil and gas lease). The trial court concluded it was floating, but the court of appeals disagreed and held it was fixed. In light of the language and structure of the reservation at issue-our sole guide in ascertaining the intent of the parties to this deed-we agree with the trial court that the deed unambiguously reserved a floating 1/2 interest in the royalty in all…