SHREVEPORT – A Louisiana company is suing two Oklahoma firms in a dispute involving oil and gas lease royalties.
Caspiana Land Co. LLC filed a lawsuit Dec. 31 in U.S. District Court for the First Judicial District of Caddo Parish against Chesapeake Louisiana L.P. and Chesapeake Operating, alleging fraud and breach of contract.
According to the complaint, Caspiana granted three leases to the oil, gas and minerals underlying land it owns in Caddo and Bossier parishes to Matador Resources Co., Prestige Exploration and Petrohawk Properties in 2008 and 2012 in exchange for a percentage of royalties on gas production. Subsequently, the suit says those companies granted percent of their shares of the leases to Chesapeake. The suit claims Chesapeake is selling the gas produced through the leases to an affiliated company for an artificially low price, resulting in underpayment of royalties to Caspiana.
Caspiana seeks a full accounting of the royalties, double damages for past underpayments, interest and attorneys’ fees. It is represented by attorneys John M. Madison Jr. and Charles E. Tabor of the Shreveport firm Wiener, Weiss & Madison APC.
U.S. District Court for the First Judicial District of Caddo Parish Louisiana Case number 5:15-CV-02909
Organizations in this Story
Chesapeake Louisiana L.P
6100 North Western Avenue
Oklahoma City, OK 73118
Wiener, Weiss & Madison APC
333 Texas Street
Shreveport, LA 71101
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