Energy Co. Alleges Theft Of $10M Oil Rig

Law360, New York (June 5, 2007, 12:00 AM EDT) -- An oil rig operator has urged a court to issue a restraining order against its parent company after the alleged theft of a $10 million rig from a drilling station.

Laredo Energy Holdings LLC is suing drilling company E&D Services for the return of the rig, claiming E&D secretly moved it to a construction yard without authority.

Laredo originally filed its complaint against E&D on May 23 in a Texas county court, alleging that E&D had unilaterally taken possession of the rig, constructed and owned by...
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