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PHILLIPS v. CARLTON ENERGY GROUP, LLC

No. 12-0255.

475 S.W.3d 265 (2015)

Gene E. PHILLIPS, Individually and d/b/a Phillips Oil Interests, LLC, Eurenergy Resources Corporation, Syntek West, Inc., Cabeltel International Corporation, Natron Investments, A&B Capital Corporation, Southmark Corporation, Basic Capital Management, Inc., May Trust, O.S. Holdings, Inc., and Envicon Development Corporation, Petitioners, v. CARLTON ENERGY GROUP, LLC, Respondent.

Supreme Court of Texas.

Opinion delivered: May 8, 2015.

Rehearing Denied December 18, 2015.

Attorney(s) appearing for the Case

Evan Andrew Young , Thomas R. Phillips , Baker Botts LLP, Austin, Jeffrey James McNabb , Baker Botts LLP, Karlene D. Poll , First District Court of Appeals, Peter M. Kelly , Kelly, Durham & Pittard, L.L.P., Houston, Mitchell Madden , Thomas V. Murto III , Holmgren Johnson : Mitchell Madden, LLP, William V. Dorsaneo III , SMU School of Law, Dallas, for Petitioner Gene E. Phillips.

J. Kevin Oncken , Uzick & Oncken, P.C., Jeffrey H. Uzick , Uzick Oncken PC, Houston, John Frederick Redwine , Eric Redwine Law Offices, Farmers Branch, Thomas R. Phillips , Baker Botts LLP, Austin, for Petitioner EurEnergy Resources Corp.

Melissa Ann Johnson , Mitchell Madden , Thomas V. Murto III , Holmgren Johnson : Mitchell Madden, LLP, Robert B. Gilbreath , Hawkins Parnell Thackston & Young LLP, William V. Dorsaneo III , SMU School of Law, Dallas, for Petitioner Syntek West, Inc.

David M. Gunn , Beck Redden LLP, Jeffrey L. Oldham , Warren W. Harris , Bracewell & Giuliani LLP, Justin Brett Busby , Fourteenth Court of Appeals, Kendall C. Montgomery , Paula Janecek Mathers , William Fred Hagans , Hagans Burdine Montgomery Rustay, P.C., Kevin H. Dubose , LaDawn H. Conway , Roger D. Townsend , Alexander Dubose Jefferson & Townsend LLP, Houston, Vincent L. Marable III , Paul Webb, P.C., Wharton, for Respondent Carlton Energy Group, LLC.

Joseph M. Nixon , Beirne Maynard & Parsons LLP, Timothy J. Hogan , Deans & Lyons LLP, Houston, for other interested party Basic Capital Management, Inc. and May Trust.

Charles Imlay Appler , Mark E. Bennett , Bennett Weston LaJone & Turner PC, Dallas, for other interested party Natron Investments, A & B Capital Corporation.

Mitchell Madden , Holmgren Johnson : Mitchell Madden, LLP, Dallas, for other interested parties O.S. Holdings, Inc., Southmark Corporation, and Envicon Development Corp.

Tracy Nicole Leroy , Sidley Austin LLP, Houston, for Amicus Curiae Accenture LLP.

Hugh Rice Kelly , Texans for Lawsuit Reform, Austin, for Amicus Curiae Texans for Lawsuit Reform.

George S. Christian , Texas Civil Justice League, Austin, for Amicus Curiae Texas Civil Justice League.

Wildcatting is speculative business, especially in a foreign country, but it is business nonetheless. Data is gathered, risks are assessed, deals are reached, and money is made and lost, all in something of a competitive market. An investment is...

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