CORRECTION: Longview Wins $95.5M, Huge Shale Tract From Directors

By Jess Krochtengel (September 10, 2012, 8:34 PM EDT) -- A Texas state judge has awarded Longview Energy Co. $95.5 million and the rights to more than 46,000 acres in the Eagle Ford Shale the company says is worth more than $500 million after a jury found two corporate directors had hijacked the opportunity to buy the land.

The judgment, filed Sept. 4 in Zavala County District Court against Riley-Huff Energy Group LLC, also gives Longview the right to all production revenues from the date of the jury verdict until the properties are actually transferred following any appeals — an amount likely to be about $5 million a month, according to...

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