Springbok Royalty Partners, LLC v. Ralph and Sheryl Cook

CourtLouisiana Court of Appeal
DecidedNovember 16, 2022
Docket54,788-CA
StatusPublished

This text of Springbok Royalty Partners, LLC v. Ralph and Sheryl Cook (Springbok Royalty Partners, LLC v. Ralph and Sheryl Cook) is published on Counsel Stack Legal Research, covering Louisiana Court of Appeal primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Springbok Royalty Partners, LLC v. Ralph and Sheryl Cook, (La. Ct. App. 2022).

Opinion

Judgment rendered November 16, 2022. Application for rehearing may be filed within the delay allowed by Art. 2166, La. C.C.P.

No. 54,788-CA

COURT OF APPEAL SECOND CIRCUIT STATE OF LOUISIANA

*****

SPRINGBOK ROYALTY Plaintiff-Appellee PARTNERS, LLC

versus

RALPH AND SHERYL COOK Defendants-Appellants

Appealed from the Forty-Second Judicial District Court for the Parish of DeSoto, Louisiana Trial Court No. 81,935

Honorable Amy Burford McCartney, Judge

DYESS LAW FIRM Counsel for Appellants By: William D. Dyess

AYRES, SHELTON, WILLIAMS, BENSON & PAINE, LLC By: Curtis R. Shelton

THOMAS, SOILEAU, JACKSON Counsel for Appellee & COLE, LLP By: Steven E. Soileau Erica M. Ducoing

Before PITMAN, COX, and THOMPSON, JJ. THOMPSON, J.

A mineral royalty company sought to enforce against the property

owners its letter agreement to purchase their mineral interest in four tracts of

land in DeSoto Parish, Louisiana. The property owners refused to conclude

the sale when they reportedly received a more lucrative offer for their

mineral interests. The trial court granted the mineral royalty company’s

motion for summary judgment, noting the absence of any ambiguity in the

contract because an employee of the royalty company met with landowners

at their home to discuss the letter agreement that the company prepared,

which clearly laid out the terms of the agreement between the parties,

including that the landowners would be selling all of their net mineral

interest in the four tracts of land. The landowners contend they signed the

agreement, but they later argued that they had not read the agreement prior

to signing it and that it did not accurately reflect the amount of their interest

they intended to sell. For the reasons set forth in greater detail below, we

affirm the trial court’s judgment.

FACTS AND PROCEDURAL HISTORY

Plaintiff, Springbok Royalty Partners, LLC (“Springbok”), is an

energy company located in Texas, which among other endeavors, purchases

mineral interests from property owners in Louisiana. Defendants, Ralph and

Sheryl Cook (the “Cooks”), are residents of Sabine Parish, Louisiana, who

own land and some corresponding mineral interests in multiple parishes,

including four tracts of land in DeSoto Parish, Louisiana (the “subject

property”). In 2018, the Cooks sold one-half of their interest in 222 net

mineral acres in the subject property to an unrelated party, retaining ownership of one-half of the minerals, as 111.1277 net mineral acres in the

222 actual acres.

In November 2020, Springbok contacted Mr. Cook about acquiring

the Cooks’ remaining 111.1277 net mineral acres. The parties discussed the

acquisition and made an agreement as to the price. To reduce that

agreement to the necessary writing, an employee of Springbok, Mike

Heldoorn (“Heldoorn”), went to the Cooks’ home with an already prepared

letter agreement on December 3, 2020. The letter agreement is labeled as an

offer to purchase mineral interests in lands (hereinafter, the “Letter

Agreement”). The Letter Agreement provides that Springbok will submit a

cash offer of $575,000 in consideration for a mineral deed to be effective

December 1, 2020, for “all of the right, title, interest, and estate held and/or

owned by Ralph Cook or Sheryl Cook in and to 111.1277 net mineral acres

of the minerals underlying the lands.” The Letter Agreement includes the

following language:

This letter shall form a binding agreement and you shall be deemed to have received good, valuable and sufficient consideration for your execution and delivery of your counterpart of this letter in your performance of your obligations hereunder (and you shall not take a position to the contrary).

The Letter Agreement states that Springbok will provide a pre-closing

notice of closing, at which time the Cooks will deliver the signed mineral

deed and Springbok will pay the purchase price. The Letter Agreement also

includes the following language:

Subject to, and in accordance with, this letter (this “Letter”), Springbok Royalty Partners, LLC, a Delaware limited liability company (“Offerer”), hereby submits an initial cash offer of Five Hundred Seventy Five Thousand Dollars ($575,000.00) (the “Purchase Price”) in consideration for a Mineral Deed (as

2 defined below) dated effective as of 12/01/2020 (the “Effective Date”) for all of the right title, interest and estate held and/or owned by Ralph Cook and Cheryl Cook (“Seller” or “you”) in and to 111.1277 net mineral acres of the minerals (the “Minerals”) underlying the Lands, including all royalties on production, executive rights to lease, and any and all other rights, permits or privileges relating to the ownership of the Minerals.

1. Description of Offer. The offer set forth in this Letter (this “Offer”) is (a) based upon your fee simple ownership, free and clear of all mortgages, liens and encumbrances, of one hundred percent, (100%) of the leased net mineral acres constituting the Minerals stated for each tract noted on Exhibit A at the Purchase Price (subject to reduction if and to the extent provided below) and (b) subject to Offerer have [sic] a reasonable time to examine, determine and confirm your title to the Minerals and certain other matters with respect to the Minerals and/or the transactions contemplated by this Letter (collectively, the “Transactions”), with each being acceptable to Offerer (in its discretion) prior to the Closing (as defined below). Without limitation of the foregoing, this Offer assumes that (i) your title in and to the Minerals is free and clear of any mortgages, liens or other encumbrances and (ii) the Minerals are subject to an oil, gas and/or mineral lease with a royalty burden of no less than 20%. If the Closing occurs, the Purchase Price shall be proportionately reduced (e.g. on a percentage decrease basis) if Offerer determines (in its discretion) any of the following: (x) you own fewer net mineral acres in and to the Minerals than is set forth above or otherwise stated on Exhibit A, (y) the royalty burden in and to any lease burdening or applicable to any of the Minerals is less than stated above, and/or (z) your net revenue interest in and to any applicable production from or attributable to the Minerals (or the proceeds thereof) is burdened or otherwise reduced, including, without limitation, as a result of a non-participating royalty interest or any other similar interest.

Heldoorn had a lengthy meeting with Mr. Cook, while Mrs. Cook was

present, during which he went over the Letter Agreement in detail, and they

then signed the agreement. The Cooks later testified that they did not read

the Letter Agreement prior to signing it. A few days later, Springbok alleges

that Mr. Cook called its office and informed the company that he had

received a higher offer for his mineral interests and would not close or sign

3 the mineral deed. The Cooks argue that they thought that they were

conveying only one-half of their mineral interest in the subject property.

Springbok sent a closing notice to the Cooks with a mineral deed, pursuant

to the Letter Agreement, and Mr. Cook contacted Springbok and stated that

he was not going to sign the mineral deed.

Springbok then filed suit for specific performance of the Letter

Agreement and later filed a motion for summary judgment based on the

rather straightforward facts of the Letter Agreement. After a hearing on

June 3, 2021, the court denied the motion for summary judgment because

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Springbok Royalty Partners, LLC v. Ralph and Sheryl Cook, Counsel Stack Legal Research, https://law.counselstack.com/opinion/springbok-royalty-partners-llc-v-ralph-and-sheryl-cook-lactapp-2022.