Conglomerate Gas II, L.P. and Vancouver Sky Management, L.L.C. v. Gregg Gibb

CourtCourt of Appeals of Texas
DecidedOctober 15, 2015
Docket02-14-00119-CV
StatusPublished

This text of Conglomerate Gas II, L.P. and Vancouver Sky Management, L.L.C. v. Gregg Gibb (Conglomerate Gas II, L.P. and Vancouver Sky Management, L.L.C. v. Gregg Gibb) is published on Counsel Stack Legal Research, covering Court of Appeals of Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Conglomerate Gas II, L.P. and Vancouver Sky Management, L.L.C. v. Gregg Gibb, (Tex. Ct. App. 2015).

Opinion

COURT OF APPEALS SECOND DISTRICT OF TEXAS FORT WORTH

NO. 02-14-00119-CV

CONGLOMERATE GAS II, L.P. AND APPELLANTS AND APPELLEES VANCOUVER SKY MANAGEMENT, L.L.C.

V.

GREGG GIBB APPELLEE AND APPELLANT

----------

FROM THE 236TH DISTRICT COURT OF TARRANT COUNTY TRIAL COURT NO. 236-237790-09

MEMORANDUM OPINION ON REHEARING1

Appellee and Cross-Appellant Gregg Gibb filed a motion for rehearing and

a motion for reconsideration en banc of our opinion that issued on August 6,

2015. We deny both motions, withdraw our opinion and judgment dated

1 See Tex. R. App. P. 47.4. August 6, 2015, and substitute the following to address Gibb’s arguments on

rehearing.

I. INTRODUCTION

Gibb sued Appellants and Cross-Appellees Conglomerate Gas II, L.P. and

Vancouver Sky Management, L.L.C. to recover damages for Appellants’ failure to

comply with an alleged agreement to assign Gibb a back-in working interest in

minerals under a tract of land that Gibb helped Conglomerate CEO D. Alan

Meeker sell. A jury ultimately sided with Gibb, awarding him damages and

attorneys’ fees. Appellants raise five issues on appeal, but we address only their

first because it is both meritorious and dispositive. Gibb raises four conditional

cross-points, but they are unpersuasive. Therefore, as to Gibb’s cross-appeal,

we will affirm, but as to Appellants’ appeal, we will reverse and render a

judgment that Gibb take nothing on his contract claim.

II. BACKGROUND

Meeker is an oil and gas and real estate businessman based in Fort

Worth. At the times relevant to this case, he managed and conducted the

business operations of several Texas limited liability companies, including

Crestview Farm, L.L.C. and Crestview Resources, L.L.C. Meeker also served as

the CEO of Conglomerate, a Texas limited partnership formed to perform oil and

2 gas development and production in the Barnett Shale, and as the manager of

Vancouver Sky Management, L.L.C., Conglomerate’s general partner.2

Gibb is a licensed real estate broker with over forty years’ experience. He

focuses his business on large tracts of real estate located in and around the

Dallas/Fort Worth area.

Rock Creek Ranch is a 2,233-acre tract of undeveloped land located

approximately half an hour south of Fort Worth. As of the late 1980s, MTV Real

Estate Limited Partnership owned 100% of the surface estate and 50% of the

mineral estate. Rock Creek Ranch’s previous owners retained the other 50% of

the mineral estate and leased it to Carrizo Oil & Gas.

A. Rock Creek Ranch Transactions and Gibb’s Brokerage Commission

Operating through Crestview Farm, Meeker contacted MTV in June 2004

and offered to purchase Rock Creek Ranch. Several months later, in October

2004, Crestview Farm and MTV entered into a Purchase and Sale Agreement

whereby MTV agreed to sell the entire surface estate of Rock Creek Ranch to

Crestview Farm for $20,097,000, or $9,000 per acre. MTV also agreed to deliver

an oil and gas mineral lease to Crestview Farm’s choice of either Crestview

Resources or Antero Resources.

2 Our reference to Appellant Conglomerate Gas II, L.P. as Conglomerate should not be confused with Conglomerate Gas I, another entity that Meeker formed.

3 Crestview Farm did not have the money to cover the $20 million purchase

price, but according to Meeker, he planned to collaborate with a partner to

develop the land. A development deal never came to be, so with the help of

retained Washington, D.C. attorney Ross Eichberg, Meeker searched for a buyer

to flip 1,983 acres of Rock Creek Ranch’s surface.3 MTV agreed to extend the

Purchase and Sale Agreement several times, and Crestview Farm paid MTV

$10,000 per month for the option to keep the Purchase and Sale Agreement

open.

In late April 2005, Eichberg contacted Gibb about finding a buyer for Rock

Creek Ranch. Gibb met Meeker sometime soon thereafter and toured the

property. In a May 1, 2005 letter that Meeker addressed to Gibb, Meeker set out

detailed information about Rock Creek Ranch, including the status of the mineral

interests.4 By the next day, May 2, 2005, Gibb had started working to sell the

tract even though he did not have a brokerage agreement in place. Gibb did so

because “[t]ime was of the essence. This property was ready to sell.”

One of the potential buyers for Rock Creek Ranch was the Texas General

Land Office (GLO), which at the time was seeking to purchase real estate for

investment. Jim Rose at the GLO had contacted Matthew Hurlbut at

3 Meeker planned to keep the remaining 250 acres for his personal use. 4 Meeker stated that he and his brother “own an oil & gas company, which has the lease commitment on the 1116 net acres that the Seller now owns. Our lease has been committed to our exploration and development agreement with our development partner.”

4 Transwestern, a real estate brokerage firm, and Henry Knapek at Transwestern

contacted Gibb, whom Knapek knew from a previous transaction. On May 3,

2005, Gibb gave Knapek and Hurlbut a list of tracts that Gibb thought might be of

interest to the GLO. One of the tracts was Rock Creek Ranch. Gibb, Rose, and

the Transwestern brokers met and toured the property, and Gibb reached a

handshake deal with Transwestern that if Gibb sold Rock Creek Ranch to the

GLO, he would split the commission 50/50 with Transwestern.

On May 3, 2005, Eichberg emailed Gibb a brokerage agreement dated the

same day and between Crestview Farm, Gibb, and Roca Beda Properties, LLC,

a brokerage company used by Eichberg. The agreement stated that Crestview

Farm hires Roca Beda and Gibb to find a buyer; that Crestview Farm intended to

offer to sell Rock Creek Ranch’s surface estate, less 250 acres, for $21,213,500;

and that approximately $20,097,000 of the purchase price would be paid to the

owner of the property (MTV) pursuant to Crestview Farm’s option agreement.

Regarding a brokerage fee to be paid by Crestview Farm, the agreement

provided that the fee would equal the difference between the amount that

Crestview Farm paid MTV for the property ($20,097,000) and the amount that

Crestview Farm received for the resale of the property, with 80% of that figure

paid to Gibb and 20% paid to Roca Beda.5 However, if the fee was $500,000 or

5 The agreement gave an illustration: “[I]f the actual purchase price paid by Buyer is $21,213,500, then the Fee will be $1,116,500 (shared by Roca Beda and [Gibb] per section 3 below)[.]”

5 less, then Gibb would “retain the entire Fee and Roca Beda [would] be ‘made

whole’ pursuant to a separate agreement with Crestview.” Gibb did not like the

offer—obviously, because depending on the resale price, which was unknown at

that point, the potential existed that he could be paid a brokerage fee as little as

$1, and Gibb did not “work for $1 or $10 for something like this”—so he struck

through the portion of the “$500,000 or less” language and wrote in the margin,

“No expenses” and “The minimum fee will be 500,000.” Gibb returned the

document to Eichberg.

Meeker considered Gibb’s request for a minimum $500,000 commission

unacceptable. He claimed, “From the very beginning I had told [Gibb] . . . that all

expenses of the sale, including the brokerage commission, had to be borne by

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