Blog

Eagle Ford Shale Press Release Retraction and Substitution

on 06/13/2012

The Watts Guerra Craft LLP Eagle Ford Shale Press Release of June 12, 2012 is being retrated and a different version has been subsituted:

Release content will change to "The jury found that the directors breached their fiduciary duties owed to the company, that their other companies aided and abetted in their breach of fiduciary duties and wrongfully obtained these assets through these breaches of fiduciary duties."

Release formerly stated:

Watts Guerra Craft LLP Leads Eagle Ford Shale Litigation with Large Verdict 

SAN ANTONIO--(BUSINESS WIRE)--The oil and gas litigation team of Watts Guerra Craft LLP has obtained the first significant verdict in litigation concerning the massive Eagle Ford Shale in Texas. A case involving over a hundred million dollars was resolved by a successful verdict within nine months of coming through the firm’s doors.

Obtaining a $162,000,000.00 jury verdict for their clients, attorneys Mikal C. Watts, Francisco Guerra, IV, P. Brian Berryman, and Edward W. Allred achieved the largest verdict known to date related to oil and gas litigation in the Eagle Ford Shale in Cause No. 11-09-12583-ZCVAJA; Longview Energy Company v. The Huff Energy Fund, L.P., Riley-Huff Energy Group, LLC, William R. “Bill” Huff, and Rick D’Angelo, in the District Court for the 365th Judicial District, Zavala County, Texas.

Watts Guerra Craft LLP represented Longview Energy Company, a corporation based in Dallas, Texas that purchases, operates, and sells various oil and gas properties and operations nationally. The multi-million dollar Eagle Ford Shale verdict was awarded after Watts and his firm proved that two corporate directors of Longview abused their authority and wrongly earned hundreds of millions of dollars. The jury found that the directors breached their fiduciary duties owed to the company, defrauded the company, and stole and misused confidential and proprietary information.

The Eagle Ford Shale oil and natural gas field in south Texas is the largest recoverable oil deposit found in the lower 48 states. The Eagle Ford Shale formation curves across South Texas from Laredo to nearby Austin. According to a recent Federal Reserve Bank of Dallas report on the Eagle Ford Shale, the zones of the Shale produce different products. The southern zone produces mostly natural gas, the northern zone is drilled for oil, and in the central zone, hydraulic fracturing brings up natural gas liquids like propane, ethane and butane. There are 30 counties where the Eagle Ford Shale is or has been targeted, with the core counties including an area that stretches from north of Gonzales down to Webb County at the Texas-Mexican border.

For more information about Watts Guerra Craft LLP, commercial litigation, oil and gas issues, and injury claims related to the Eagle Ford Shale, please visit our website, find us on Facebook, or follow us on Twitter.

Contacts

Watts Guerra Craft LLP
Stacey Burke, 877-887-9433
contact@wgclawfirm.com

Tags: Breach of Fiduciary Duty, Eagle Ford Shale

blog comments powered by Disqus