MIDLAND, Texas, April 18, 2016 /PRNewswire/ -- Two
Texas-based energy companies and a third from Oklahoma are moving forward with their state
district court lawsuit against Houston-based Apache Corp. (NYSE: APA). As
described by Apache in its SEC filings, the case involves potential
damages of more than $1.1 billion
relating to certain purchase and sale agreements, mineral leases,
and mutual interest agreements concerning properties located in the
Texas counties of Hartley, Moore, Potter
and Oldham.
Noted Texas attorneys
Zona Jones and Michael Havard of Provost Umphrey Law Firm;
Louis K. Bonham of Osha Liang LLP;
and Patrick Zummo of the Law Offices
of Patrick Zummo recently joined the
legal team representing the three companies. Accomplished lawyers
David Lauritzen, Bradley Bains and Joe
Baker of Cotton Bledsoe Tighe & Dawson, PC, filed the
original lawsuit and will continue to represent the same
companies.
The dispute centers on contracts Apache signed in 2011 with
Texas-based Apollo Exploration LLC
and Oklahoma's Cogent Exploration
Ltd. Co. and SellmoCo LLC covering a series of oil and gas leases
in the Texas Panhandle. Under the
contracts, the three companies were entitled to reclaim up to
one-third of the interests they sold to Apache. However, the oil
and gas companies say Apache never provided the required documents
for 2012 and 2013.
The plaintiffs are asking the court to order Apache to provide a
proper accounting of the drilling and payout records associated
with their contracts since they say Apache has failed to provide
proper documentation from the start.
In addition to the requested accounting and the allegations of
breach of contract and fraud, the lawsuit also includes claims
against Apache for breach of fiduciary duty, negligence, gross
negligence and conversion, among others. The case is Apollo
Exploration LLC, et al. v. Apache Corp., No. CV-50538, in the
385th District Court in Midland.
For more information, contact Bruce Vincent at 800-559-4534 or
bruce@androvett.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/energy-companies-pressing-texas-lawsuit-against-apache-corp-over-oil-and-gas-payment-shortages-lease-terminations-300253088.html
SOURCE Provost Umphrey Law Firm