Texas Oil Co. Sues Investment Cos. To Enforce Noncompete

Law360, New York (October 16, 2012, 7:46 PM EDT) -- A Texas-based oil and gas exploration company on Friday sued four energy investment companies for allegedly seeking control over certain undeveloped oil and gas leases despite a noncompetition agreement between them preventing the companies from pursuing interests in the leases.

In a complaint filed in Texas state court, PetroMax Operating Co. claimed Hop-Mar Energy LP, Sydri Energy Investments Ltd., Snyder Energy Investments Ltd., and Woodbine Energy Partners LP have wrongfully brought an arbitration dispute seeking control over the leases even though PetroMax's noncompetition agreement with them...
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