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Fort Worth Court of Appeals Upholds $180M Mineral Rights Deal

Had the Nortex group prevailed, defense attorney for Blackbeard, Alston & Bird partner Rob Vartebedian said they would likely have asked for damages in the neighborhood of $100 million.

November 14, 2023 at 03:35 PM

4 minute read

Contractual Disputes

Adolfo Pesquera

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What You Need to Know

The Fort Worth Court of Appeals upheld a summary judgment for an energy company in a large mineral rights sale.
Ross Perot Jr. companies claimed the $180 million sale could not be closed without their consent.
Plaintiffs' argument hinged on whether the sale constituted the transfer of an interest in a lease.

Fort Worth’s Second District Court of Appeals rebuffed an attempt by a Ross Perot Jr.-owned company to get damages on a $180 million transaction of which it disapproved.

Nortex Minerals LP and Petrus Investment LP, companies controlled by Perot, filed suit in 2021 against the oil and gas exploration and energy company Blackbeard Operating LLC.

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