Bp America Production Company, Atlantic Richfield Company and Vastar Resources, Inc., Petitioners v. Stanley G…

Summary

The Texas Supreme Court reversed the Court of Appeals, holding that the Marshalls’ fraud claims against BP were barred by the statute of limitations because the injury was discoverable with reasonable diligence, so neither the discovery rule nor fraudulent concealment tolled the limitations period; and that Wagner acquired title to the Vaquillas lease by adverse possession, with payment of a clearly labeled royalty constituting the requisite hostile, unmistakable assertion of ownership.