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CNX GAS COMPANY, LLC v. MILLER PETROLEUM, INC.

No. E2009-00226-COA-R3-CV.

CNX GAS COMPANY, LLC, v. MILLER PETROLEUM, INC., ET AL.

Court of Appeals of Tennessee, at Knoxville.

Filed May 11, 2011.

Attorney(s) appearing for the Case

Martin B. Bailey , Wesley E. Shipe , and Charles W. Van Beke , Knoxville, Tennessee, for the appellant, CNX Gas Company LLC.

Stephen A. Marcum , Huntsville, Tennessee, for the appellee, Miller Petroleum, Inc.

Matthew J. Evans , Daniel C. Headrick , and Joshua R. Walker , Knoxville, Tennessee, for the appellee, Atlas America, LLC.

Andrew L. Colocotronis , Knoxville, Tennessee, for the appellee, Wind City Oil and Gas, LLC.

John W. McClarty, J., delivered the opinion of the Court, in which Herschel P. Franks, P.J., and Charles D. Susano, Jr., J., joined.

OPINION

JOHN W. McCLARTY, JUDGE.

This appeal involves a business transaction for the assignment of oil and gas leases. The parties are sophisticated in the oil and gas industry and include CNX Gas Company, LLC ("CNX"), Miller Petroleum, Inc. ("Miller"), Atlas America, LLC ("Atlas"), and Wind City Oil & Gas, LLC ("Wind City"). CNX and Miller entered into a binding Letter of Intent ("LOI") for the assignment of oil and gas leases owned by Miller. Prior...

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