"width": "100%", BP Plc was forced to renegotiate the terms of a sale of its Alaska business to Hilcorp Energy Co., and Devon Energy Corp. had to revise its sale of North Texas shale assets to Banpu Kalnin Ventures LLC. U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel restrictions souring demand as OPEC and other producers waged a price war, sending oil to $13 a barrel this month from $61 at the start of the year. "plotLineColorGrowing": "rgba(61, 133, 198, 1)", One of the region's largest producers, Whiting Petroleum, has declared bankruptcy, while another leader, Continental Resources, had to shut in nearly all its wells because they were losing money. Reuters first reported the lawsuit. Continental Resources sued over failed $200MM oil deal, Vote to keep Biden’s hands off of U.S. energy policy, Trump signs order on fracking while barnstorming in Pennsylvania, Climbing rig counts may signal a turnaround, but that's no comfort for Exxon Mobil, Schlumberger introduces StrataBlade concave diamond-element bit, Schlumberger launches definitive dynamic survey-while-drilling service, Total scores “significant” gas condensate find offshore South Africa, Applying ultra-deep LWD resistivity technology successfully in a SAGD operation, Adoption of wireless intelligent completions advances, Majors double down as takeaway crunch eases, What’s new in well logging and formation evaluation, Qualification of a 20,000-psi subsea BOP: A collaborative approach, ConocoPhillips’ Greg Leveille sees rapid trajectory of technical advancement continuing, Petrofac completes sale of its Mexican operational interests, Aramco maintains dividend, shrugs off 45% profit drop and rising debt, Qatar builds its 2021 budget on $40 oil, below market projections, China raises oil quota 20 percent to leverage low oil prices, Oil and Gas Prices, Production, Rig Counts. { Your IP: 187.86.152.162 “Almost immediately after the execution” of the contract, Continental sought to delay the closing that was set for the end of March, Casillas said in the suit filed in Tulsa County District Court in Oklahoma. The company employed other local ranchers as truck drivers to haul drilling pipes for customers in the booming North Dakota oil industry. “Almost immediately after the execution” of the contract, Continental sought to delay the closing that was set for the end of March, Casillas said in the suit filed in Tulsa County District Court in Oklahoma. A representative for Continental didn’t immediately respond to a request for comment. All quotes delayed a minimum of 15 minutes. }, Here’s how the newspaper reported the story: A Harding County ranch hand’s five-year fight against a major oil company ended recently when the company paid him $278,320. Market quotes are powered by "s": "INDEX:DOWI", Four hours after Janvrin’s comments were published in the newspaper, a CTAP official called to tell him that CTAP would no longer do business with J&J Trucking. "gridLineColor": "#e9e9ea", The majority of CTAP’s business came from Continental, an Oklahoma-based, top-10 U.S. oil producer and the largest leaseholder in the Bakken region, according to documents filed in the lawsuit. Our Standards: The Thomson Reuters Trust Principles. Labor shortages are reported in the Permian Basin—firms blame immigration rules. See here for a complete list of exchanges and delays. "symbols": [ "plotLineColorFalling": "#FF4A68", }, "belowLineFillColorFalling": "rgba(255, 74, 104, 0.05)", "height": "700", It’s the latest example of an oil and gas deal running into snags amid the unprecedented plunge in crude prices. ] }, On March 24, Casillas said Continental sent a letter attempting to terminate the deal, citing issues that included alleged wastewater incidents. Shale producers Alta Mesa Holdings and Devon Energy accepted lower prices for pending asset deals. Continental Resources Inc v. Plains Exploration & Production Company et al Western District of Oklahoma, okwd-5:2004-cv-01681 ORDER granting in part and denying in part {{79}} Plaintiff's Motion for Partial Summary Judgment, granting in all respects {{77}} Defendants' Motion for Partial Summary Judgment, AS MORE FULLY SET OUT. Continental Resources lost an appeal of the verdict this past August and decided to pay Janvrin rather than pursue a further appeal to the U.S. Supreme Court. U.S. crude futures prices have tumbled, with coronavirus-related lockdowns and travel restrictions souring demand as OPEC and other producers waged a price war, sending oil to $13 a barrel this month from $61 at the start of the year. Crashing oil prices have upset several deals in the process of closing. Cloudflare Ray ID: 5ec790bccec3f740 "s": "USOIL", On March 24, Casillas said Continental sent a letter attempting to terminate the deal, citing issues that included alleged wastewater incidents. A Louisiana police pension fund filed a lawsuit last week to stop Continental Resources from acquiring another company owned by Continental CEO Harold Hamm and Jeff B. Hume, vice chairman Tags: Casillas Petroleum Resource Partners, Continental Resources, deal lawsuit, OAG360, oil prices. { Continental Resources still paying in $60 million royalty lawsuit settlement May 1, 2019 Oklahoma City’s Continental Resources Inc. revealed in a SEC filing this week it is paying tens of millions of dollars to settle a class-action that alleged underpayment of royalties in Blaine County, Oklahoma. Before it's here, it's on the Bloomberg Terminal. { ] • But Continental got cold feet and proposed to postpone the closing due to “changes in the oil and gas markets,” and then terminated the agreement on March 24 citing title and other problems, the lawsuit alleged. The case is Casillas Petroleum Resource Partners v Continental Resources, Tulsa County Oklahoma district court, No. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. Continental Resources did not respond to a request for comment. Janvrin sued Continental Resources in 2014 for cutting him out of the trucking business in the Bakken oilfield of North Dakota. Founder Harold Hamm, an early supporter of U.S. President Donald Trump, has urged Washington to impose tariffs on foreign oil imports and pushed for federal support of the oil industry. 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