“BHP Says Bankrupt Driller Must Repay $9M In Royalties”
Units of global mining and petroleum giant BHP on Wednesday launched a complaint in Texas bankruptcy court against EXCO Resources Inc., saying the bankrupt driller won’t turn over at least $9.3 million in oil and gas production royalties and other payments owed to BHP from drilling properties that EXCO operated.
BHP Billiton Petroleum LLC and BHP Billiton Petroleum Properties (N.A.) LP claim that EXCO is improperly holding the proceeds in “suspense” due to a title dispute between BHP and Devon Energy Production Co. LP over drilling interests operated by EXCO, even though BHP and Devon settled their dispute in April 2016.
…BHP is represented by Tye C. Hancock, Mitchell E. Ayer and Steven J. Levitt of Thompson & Knight LLP.