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A Texas appeals court on Thursday reinstated a $57.5 million jury verdict for ExxonMobil Corp. that requires the owners of Wagner Oil Co. to indemnify Exxon for a settlement reached in Louisiana over environmental claims for oil and gas interests it bought in the 1990s.
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Texas Justices Mull Scope Of Arbitration In $15M Apache Row
Law360 (February 3, 2021, 4:02 PM EST) An oil company urged the Texas high court on Wednesday to determine if its $15 million indemnification fight with Apache Corp. can play out in court, telling the justices a carveout in the purchase deal clearly exempts the dispute from mandatory arbitration.
During a virtual hearing Wednesday, Wagner Oil Co. and Bryan C. Wagner urged the state high court to find it has no obligation to arbitrate the disagreement with Apache over which company is on the hook for $15 million in attorney fees that Apache spent defending against pollution cases involving properties Apache had since sold to Wagner. Wagner is.