Oil and gas investor settles with Chesapeake-based natural gas company
Posted on Monday, September 28th, 2015 at 8:37 pm
Edward Bass, an oil and gas investor from Texas, and Barnett Shale mineral rights owners settled with Chesapeake Operating, Inc., a natural gas production company.
Almost 4,000 acres in Tarrant County and Johnson County are owned by Bass and the other landowners. Chesapeake has been handling some of those properties since 2007. The lawsuit was based on alleged underpaying of gas and oil royalties and a breaching of contract with the owners.
In the lawsuit filed in 2013, Chesapeake Operating Inc. allegedly violated the agreement to sell, from one company to another, natural gas production. The company also allegedly made wrong deductions from royalty payments to hide expenses for production.
Daniel Charest, who represents the landowner plaintiffs, said, “We’re very pleased that this matter has been resolved… We believe the evidence was compelling on behalf of the property owners”.
If you are a mineral rights owner and aim to settle your property or sell your rights, consult with our team of mineral rights brokers at The Mineral Auction. Call (512) 698-2802 for a more in-depth discussion.