Chesapeake Must Pay BP $22M For Well Title Defects

Law360, Los Angeles (April 5, 2013, 4:57 PM EDT) -- An Oklahoma federal judge said Friday that Chesapeake Exploration LLC owed $22 million to BP America Production Co. for title defects on wells it sold to BP, ruling the amount BP could collect was not limited by an earlier arbitration decision.

The order brings an end to Chesapeake's lawsuit over a cluster of title disputes, including title defects, title benefits and credits due, connected to its $1.75 billion sale of Oklahoma oil and gas properties to BP in 2008. Chesapeake sued BP in 2010 hoping to...
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