Exxon Says Fieldwood Can't Skip On Cleanup Costs

Law360 (January 13, 2021, 6:59 PM EST) -- Exxon Mobil Corp. units are trying to block confirmation of a Chapter 11 plan for debt-laden oil exploration company Fieldwood Energy LLC that the Exxon companies say would unfairly put them on the hook for the expensive cleanup of plugging old oil and gas wells.

XTO Energy Inc., HHE Energy Co. and XH LLC said Tuesday that Fieldwood's plan would shift financial obligations back onto them for as many as 185 oil and gas leases in the Gulf of Mexico even though the companies sold those leases to Fieldwood nearly 10 years ago. They said the bankruptcy plan would inappropriately stick...

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