Hazlewood Patterson Company and Travis Hazlewood v. Michael P. Hancock

CourtCourt of Appeals of Texas
DecidedDecember 15, 2004
Docket10-03-00274-CV
StatusPublished

This text of Hazlewood Patterson Company and Travis Hazlewood v. Michael P. Hancock (Hazlewood Patterson Company and Travis Hazlewood v. Michael P. Hancock) 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
Hazlewood Patterson Company and Travis Hazlewood v. Michael P. Hancock, (Tex. Ct. App. 2004).

Opinion

IN THE

TENTH COURT OF APPEALS


No. 10-03-00274-CV

Hazlewood Patterson Company

and Travis Hazlewood,

                                                                      Appellants

 v.

Michael P. Hancock, et al.,

                                                                      Appellee


From the 18th District Court

Johnson County, Texas

Trial Court # 46-96

MEMORANDUM  Opinion

          Five investors (“Plaintiffs”) in the King No. 1 gas well sued the operator, Hazlewood Patterson (“HP”), and its president, Travis Hazlewood (Travis) for fraud and breach of fiduciary duty arising out of the settlement of an earlier lawsuit.  The case was tried to a jury, which returned a verdict against HP and Travis and awarded actual and punitive damages.  HP and Travis bring this appeal.


BACKGROUND

          Plaintiffs are five of eighteen investors in the King No. 1 gas well.  The well was only marginally profitable, so a contractor was hired to perform a “squeeze job” on the well.  As a result of the squeeze job, tubing inadvertently became cemented in the well.  One of the investors, Mike Hancock, met with Travis, Tom Hazlewood (an investor who did not join this suit), and Robert Sparks, an attorney.  Sparks was retained to sue the contractor on behalf of HP.  Sparks sought $1 million in actual damages, $5 million in punitive damages for negligence and gross negligence, and damages under the DTPA. 

          The case was ordered to mediation.  Travis and Sparks attended the mediation.  The contractor and HP agreed to settle for $600,000.  Travis testified that a decision was made to pay $407,204 to the investors and to pay the balance ($192,796) to HP.  Travis did not inform the investors that the case had settled for $600,000, and he told Hancock that the case had settled for $407,204.  Suspecting that the settlement had been larger than $407,204, the Plaintiffs brought this action, alleging breach of fiduciary duty and fraud.

          On summary judgment, the trial court ruled that HP had acted as the investor’s agent.  The jurors unanimously found that HP had breached its fiduciary duty and that Travis had knowingly participated in that breach.  They also found that Travis, individually, had been the investor’s fiduciary and that he had breached his fiduciary duty.  They found that both HP and Travis had committed fraud.  The jurors found that the investors had suffered actual damages of $192,796, and they assessed punitive damages of $192,796 against HP and $192,796 against Travis.  The trial court reduced the $192,796 in actual damages to $83,470 to reflect the percentage of the plaintiffs’ working interest in the well.

          HP and Travis bring twelve issues on appeal.

Damages

          HP’s and Travis’s first issue argues that there is “no evidence” to support the damages finding.  They claim that the jury’s finding that the replacement cost of the well was $408,003 established the maximum amount, by law, that the investors and the working interests of the well could recover.  They argue that the investors could not have recovered, in the underlying litigation, damages above that amount, and that all damages above that amount were damages sought by HP that were unique to it and could not be recovered by the investors and the working interests.  They contend that because the investors recovered all of the damages to which they were entitled, the Plaintiffs could not carry their burden of proof on fiduciary duty, fraud or damages.  The Plaintiffs claim that the proper measure of damages is not the $408,003 replacement cost and that the jury’s finding of damages of $192,796 is controlling.

          HP and Travis rely primarily on Atex for their contention that the investors could recover no more than the replacement cost of the well.  Atex Pipe & Supply, Inc. v. Sesco Production Co., 736 S.W.2d 914 (Tex. App.—Tyler 1987, writ denied).  In Atex, a production company sued a supply company alleging that defective tubing sold by the supply company collapsed, causing damage to an oil well.  The Tyler Court of Appeals held that loss of production was an improper measure of damages.  Id. at 917.  The proper measure of damages for a damaged well is the cost of drilling and equipping another such well, less the value of any salvage; if this cost exceeds the value of the well, the proper measure of damages is the difference in the market value of the well, as equipped, immediately before and immediately after the damage.  Id.

          Atex sets forth the measure of damages for a damaged well.  We reject HP’s and Travis’s contention that the Atex rule, as a matter of law, caps the amount of money the investors could have received in the settlement negotiation.  It is undisputed that additional claims other than damage to the well were made in the suit between HP and the cement contractor.  The fact that the contractor settled the case for $600,000, a figure much higher than the replacement cost of the well, demonstrates that other claims were in consideration.  The Atex holding would not preclude the investors from settling their claims for whatever amount the contractor was willing to pay.

          HP and Travis assert that all of the claims other than those for damage to the well are for damages unique to HP.

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