Plains Owes Energy Co. Half Of $83M Award, Court Hears

Law360, Houston (April 23, 2013, 5:43 PM EDT) -- An independent energy company told a Texas appeals court Tuesday a trial court erred in refusing to recognize its contractual right to half of an $83 million judgment tied to oil and gas leases it sold to Plains Exploration & Production Co.

Torch Energy Advisors Inc. attorney Kevin Dubose of Alexander Dubose & Townsend LLP argued to the First District Court of Appeals that Plains ignored a clause in a 1996 purchase and sale agreement covering two dozen oil and gas leases off the coast of...
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