Peregrine Petroleum Told To Pay $16M In Trade Secrets Case

Law360, New York (July 31, 2012, 10:31 PM EDT) -- A Texas bankruptcy judge on Thursday entered a $16 million judgment against Peregrine Petroleum LLC, finding the oil and gas exploration and production company had improperly used defunct TXCO Resources Inc.’s trade secrets to acquire oil and gas leases.

U.S. Bankruptcy Judge Ronald B. King ruled that Peregrine had misappropriated proprietary subsurface, production and operations data concerning TXCO’s operations in South Texas in order to identify and lease prime oil and gas deposits within the Eagle Ford Shale.

“Peregrine’s conduct surrounding its acquisition and use of...
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