BP Can't Dodge $10M Loss In NM Gas Royalty Case

Law360, New York (May 12, 2011, 5:30 PM EDT) -- A New Mexico federal judge on Wednesday affirmed that a BP PLC subsidiary was contractually obligated to pay landowners $9.7 million in natural gas royalties, refusing BP's request to set aside a jury verdict.

U.S. Magistrate Judge W. Daniel Schneider upheld a $9.7 million March jury verdict in the landowners' favor, and refused several requests from BP America Production Co. to overturn it. He also awarded the plaintiffs about $3.27 million in interest.

His decision closes the case and opens the door to an appeal, should...
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