Great Northern Energy, Inc. v. Circle Ridge Production, Inc.

OPINION

Opinion by

Justice Burgess

This case involves a complicated dispute between Circle Ridge Production, Inc. (Circle Ridge), and Kevin Stephens against Great Northern Energy, Inc. (Great Northern), arising out of the sale and foreclosure of certain oil and gas interests in Harrison County. We affirm the trial court’s judgment in part and reverse in part.

I. Introduction

A. Summary of the Dispute

Briefly, Circle Ridge and Stephens sold certain oil and gas leases referred to by the parties as the O’Benco leases1 to Great Northern in exchange for a $700,000.00 promissory note, a $180,000.00 cash…