Bankrupt Driller Reaches $4.5M Settlement With BHP

Law360 (October 25, 2018, 8:33 PM EDT) -- Oil and gas driller Exco Resources Inc. is asking a Texas bankruptcy court to approve a $4.5 million settlement with global mining and petroleum giant BHP, under which the two companies will drop their claims against each other over allegedly unpaid royalties and fees.

According to the Wednesday motion, under the terms of the deal BHP will drop a bankruptcy court complaint alleging Exco is improperly holding at least $9.3 million in oil and gas royalties owed to BHP, and Exco will drop a state court complaint alleging BHP owes it $9.6 million in marketing fees and allow $4.5 million of...

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