Wexford Capital Sued Over $674M Sale Of Failing Well Servicer

Law360, New York (September 10, 2012, 8:18 PM EDT) -- Oil and gas drilling contractor Archer Well Co. Inc. filed suit Thursday in New York federal court against Wexford Capital LP, claiming the pump services company it bought from Wexford for $674 million last year was in worse shape than the private equity firm had claimed.

Archer is alleging breach of contract and seeking $40 million related to its August 2011 purchase of Great White Energy Services LLC, which provides drilling services to oil and gas companies.

The move was touted as a springboard for Archer...
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