Chesapeake Hit With Suit Over $25M Oil, Gas Contract

Law360, New York (October 8, 2010, 2:44 PM EDT) -- A Texas family has sued Chesapeake Exploration LLC, accusing the company of reneging on an agreement to purchase over $25 million in oil and gas leasehold interests.

Manziel Family Oil & Gas Partnership Ltd. filed a complaint Thursday in the U.S. District Court for the Eastern District of Texas alleging Chesapeake Exploration breached the agreement by trying to back out of the deal and that Chesapeake Energy Corp. and Chesapeake Operating Inc. tortiously interfered with the contract.

The suit claims the Manziels struck a deal with...
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