Shell Pays $13.85M To End Crude Oil Transport Deal Suits
Law360 (June 18, 2020, 4:53 PM EDT) -- Shell has paid $13.85 million to oil logistics company Jamex Marketing LLC to bring an end to two Texas state court suits against it and Whiting Petroleum Corp. related to a busted $50 million oil transportation contract, according to bankruptcy court filings.
The settlement will be paid from a fund that Shell Trading (US) Co. created and has paid transportation fees into after terminating in December 2017 a seven-year contract with Louisiana-based Jamex, according to court documents filed earlier this month in Whiting Petroleum's Southern District of Texas bankruptcy case.
The contract had called for Shell to pay $1.40 for each...
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