News From Law.com
A Houston-based Vinson & Elkins oil and gas legal team secured a win in a two-month trial in California for a client facing $100 million in claims brought by two energy companies. A jury verdict in Kern County Superior Court in Bakersfield rejected five legal theories brought by the plaintiffs against Aera Energy LLC, a subsidiary of Shell Oil Co. and ExxonMobil Corp. Plaintiffs Vaquero Partners LP, a California company, and New Orleans-based Madison Energy LLC alleged Aera misrepresented its intentions for the development of oil and gas deposits on a portion of a field known as the King Ellis Lease. Aera, the operator, had a 45% working interest in the lease. Vaquero had a 50% working interest and Madison Energy had a 5% working interest.
Energy
December 14, 2023, 2:18 PM