Newspaper article THE JOURNAL RECORD

CONOCO Ponders Appeal in Okland Oil Lawsuit

Newspaper article THE JOURNAL RECORD

CONOCO Ponders Appeal in Okland Oil Lawsuit

Article excerpt

OKLAHOMA CITY (AP) -- Conoco said Friday it is considering appealing a federal jury's decision awarding $4.5 million in damages to an Oklahoma City-based oil company.

Okland Oil had accused Conoco of intentionally defrauding it on natural gas sales for seven years. Okland said Conoco deliberately concealed a 10-cent charge per million British Thermal Units, or Btu, of gas that Okland sold to Conoco from 1985 through 1992.

The underpayments amounted to more than $1 million on 23 wells, Okland alleged. Conoco issued a statement saying it was disappointed in the verdict. "Our contracts with Oklahoma producers permitted Conoco to deduct production related costs," said spokeswoman Sue Clark in Ponca City. "Since this was clearly stated in the contracts, we do not understand how the jury could return the verdict it did." The seven-member jury gave Okland $1.5 million in actual damages and $3 million in punitive damages. Okland provided natural gas for Conoco's processing plants in Hennessey, Cashion and Mustang. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.