Amerada Hess Settles Royalty Suit For $5M

Law360, New York (December 8, 2009, 5:04 PM EST) -- Royalty interest owners in the Bravo Dome Carbon Dioxide Unit in New Mexico have asked a federal court to approve a nearly $5 million settlement of their breach of contract class action against Amerada Hess Corp. over the company's alleged failure to pay royalties.

In a joint motion on Monday, both sides requested that the U.S. District Court for the District of New Mexico preliminarily approve the settlement and set a date for the final settlement and dismissal of the litigation.

Oil companies like Hess use...
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