Helmerich & Payne Hit With $126M Tab In Gas Suit

Law360, New York (January 12, 2009, 12:00 AM EST) -- Oil and gas company Helmerich & Payne Inc. has been hit with a $126 million judgment in an Oklahoma state court that found in favor of landowners who accused the company of cheating them out of royalties by draining gas away from their wells and onto neighboring land.

The judgment, entered Thursday, totaled $126,367,750 million and included approximately $6.85 million of actual damages and an additional $119.52 million of profits Helmerich & Payne allegedly earned on the $6.85 million, the company said in a statement issued...
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