Casillas Petroleum Resource Partners LLC sued Continental Resources
Inc., alleging the Oklahoma shale producer last month backed out of a
$200 million oil and gas deal as prices crashed.
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.
On March 6, the day a supply pact by OPEC and allies collapsed,
Continental agreed to buy oil and gas properties from Tulsa, Okla.-based
Casillas. The deal was set to close roughly three weeks later,
according to a lawsuit filed in Tulsa County District Court in Oklahoma.
https://www.hartenergy.com/news/continental-resources-sued-over-failed-200-million-oil-deal-187292
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