Aruba Petroleum Inc.’s motion for a new trial in a drilling/hydraulic fracturing (fracking) nuisance case has been denied by a Texas judge and the company plans to appeal the $2.95M judgment against it.
Articles from Jury
A federal grand jury on Wednesday indicted a man accused of trying to blow up a natural gas pipeline in suburban Dallas last month.
Hydraulic fracturing (fracking) took center stage at a House hearing Wednesday on the fiscal year (FY) 2013 Interior Department budget, with Secretary Ken Salazar saying that he hopes that federal government research into the shale gas practice will end “a lot of the hysteria” surrounding the drilling practice.
For producers last week, the jury was still out on how the Obama administration’s legislative package to tightly regulate the $500 trillion over-the-counter (OTC) derivatives market would impact them, but there was some cautious relief.
For producers, the jury was still out Wednesday on how the Obama administration’s legislative package to regulate the $500 trillion over-the-counter (OTC) derivatives market would impact them, but there was some cautious relief.
U.S. District Judge Sim Lake in Houston Tuesday vacated the conviction of Enron founder Kenneth Lay, who died in July. The decision threw out the jury’s verdict in May that Lay committed fraud and conspiracy in the months before Enron collapsed in late 2001 (see Daily GPI, July 6; May 26).
Lawyers for Enron Corp. founder Kenneth Lay and ex-CEO Jeffrey Skilling went right to the heart of their defense strategy on Monday, telling the jury ex-CFO Andrew Fastow was a devious accountant and skilled liar who duped his bosses, stole millions and pushed the company toward financial ruin. Fastow, in his fourth day of testimony in the seven-week-old trial, has admitted to stealing and lying from the company, but he testified last week Lay and Skilling also deceived shareholders and analysts about Enron’s true financial state.
A Houston grand jury returned a superseding indictment Wednesday that included new charges of false price reporting and wire fraud against a former natural gas trader of El Paso Merchant Energy.
A federal grand jury has added charges of false reporting and wire fraud against two former natural gas traders, Michelle Valencia, 34, formerly with Dynegy, and Greg Singleton, 38, formerly with El Paso Merchant Energy.
Kinder Morgan Energy Partners LP (KMP) settled a lawsuit last Thursday for $25 million after a South Texas jury found that two partners in a joint venture with Kinder Morgan Tejas had lost millions of dollars in profits and investment value after Tejas Gas was sold to Kinder Morgan in February 2002 and the new owner failed to meet the terms of their agreement.