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Rosetta Resources To Pay Calpine $97M

Law360 (October 23, 2008, 12:00 AM EDT) -- Oil and gas company Rosetta Resources Inc. has agreed to pay Calpine Corp. a total of $97 million, with a $12.4 million settlement pact between the companies clearing the way for the completion of Rosetta’s acquisition of Calpine’s oil and gas business.

The $12.4 million cash settlement will resolve all disputes between the parties, including the fraudulent conveyance lawsuit Calpine filed against Rosetta in the U.S. Bankruptcy Court for the Southern District of New York over the 2005 acquisition deal.

In addition to the $12.4 million...
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