Chesapeake Launches $130M Suit Over Failed Oil, Gas Venture

Law360, Houston (October 1, 2012, 10:10 PM EDT) -- A unit of Chesapeake Energy Corp. on Monday launched a suit against Gastar Exploration Ltd. in Texas federal court, alleging that it is owed $130 million as a result of a botched joint venture to develop a 54,000-acre oil and gas prospect.

Chesapeake Exploration LLC claims that after it paid millions to Gastar for an interest in the central Texas field and incurred substantial development expenses, a Texas court stripped it of its ownership after finding that Gastar had no right to sell the mineral rights...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.