Linc Energy Unit Faces Contract Suit Over $236M Well Sale

Law360, New York (July 25, 2012, 10:08 PM EDT) -- Oil and gas operator ERG Resources LLC launched a suit against a unit of Linc Energy Ltd. in Texas court Wednesday, alleging Linc breached a $236 million acquisition deal for several hundred Gulf Coast oil and gas wells and caused environmental damage on ERG-owned land.

The dispute centers on a deal ERG and Linc Gulf Coast Petroleum Inc. — the U.S. subsidiary of Australia-based Linc Energy — agreed to in 2011, in which Linc acquired 14 producing oil fields along the Texas and Louisiana Gulf Coast...
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