Wapiti Sues For Costs, Taxes In $375M Oil Field Sale

Law360, Houston (October 29, 2013, 7:14 PM EDT) -- An affiliate of Wapiti Energy LLC filed suit Monday in Texas state court, saying it is at odds with Layline Petroleum LLC over the allocation of overhead costs, expenses and taxes tied to a $375 million acquisition of oil and gas properties.

Houston-based Wapiti Energy Opco LLC says Layline is refusing to pay its share of costs mandated by the companies’ purchase agreement while demanding that Wapiti reimburse it a “significant amount” for operating and capital expenses related to oil fields Layline sold to it last...
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