BP Doesn't Owe $3.9M In Lease Dispute, Appeals Court Says

Law360, Washington (September 3, 2013, 4:49 PM EDT) -- A Texas appeals court Friday ruled in favor of BP America Production Co. in a dispute over bonus payments allegedly owed under an oil and gas lease, overturning a lower court’s decision awarding more than $3.9 million to the lessors.

The Texas Court of Appeals found that BP had correctly interpreted the disputed lease when it argued that $1,750-per-acre signing payments it made to a group of mineral rights holders were bonus payments, meaning the company didn't owe them more when it made extra payments to...
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