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YZAGUIRRE v. KCS RESOURCES, INC.

No. 00-0829.

53 S.W.3d 368 (2001)

Tomas Chapa YZAGUIRRE, et al., Petitioners, v. KCS RESOURCES, INC., Respondent.

Supreme Court of Texas.

Decided June 21, 2001.

Rehearing Overruled August 30, 2001.

Attorney(s) appearing for the Case

Donato D. Ramos, Person Whitworth Ramos Borchers & Morales, Laredo, Dick Watt, Houston, for Petitioner.

Charles R. Roberts, Jeffers & Bannack, San Antonio, for Respondent.

Chief Justice PHILLIPS delivered the opinion of the Court.

When royalty payments are based on market value under an oil and gas lease in Texas, the lessee owes royalties based on the price of gas on the open market, even though the gas was actually sold for less than this price under a long-term sales contract. Texas Oil & Gas Corp. v. Vela, 429 S.W.2d 866, 871 (Tex.1968). In this case, we must decide whether the open...

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