Exxon Mobil Wins Interest Dispute With Alabama

Law360, New York (January 8, 2008, 12:00 AM EST) -- An Alabama judge sided with Exxon Mobil Corp. on Tuesday in a dispute over how much interest the energy giant owes to the state.

Exxon Mobil will pay Alabama $120.4 million in royalties and interest for certain offshore natural gas wells in Mobile Bay instead of $142.8 million in royalties and interest, according to a spokeswoman for the company.

“ExxonMobil is pleased that the circuit court agrees with its position that the state was overreaching in its application of interest,” the company said in a statement....
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