Partners In Gulf Well Venture Patch Up Upgrade Dispute

Law360, New York (July 27, 2012, 3:57 PM EDT) -- Implicit Oil & Gas LP and GoMex Energy Offshore Ltd. moved Wednesday to settle a dispute stemming from their soured Gulf of Mexico drilling venture, three days after a deadline to start upgrades to the well that, if missed, might have terminated the lease.

The settlement comes less than two weeks after Implicit sought an emergency injunction to force GoMex, the operator, to start upgrades that would restart production at the well, which has been shuttered since mid-April.

Implicit had claimed that failure to start the...
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