A Stephens County District Court judge has put on hold a local lawsuit accusing Chesapeake Energy and former SandRidge CEO Tom Ward of intentionally depressing bids and oil leases in the oil and gas industry. The lawsuit is similar to a federal lawsuit filed against Chesapeake and others in Oklahoma City U.S. District Court.
Stephens County Judge Brent Russell heard arguments in the local lawsuit earlier this month, then stopped all proceedings until Sept. 10 because of the bankruptcy filed by SandRidge Energy. It was Chapter 11 reorganization filed by the Oklahoma City energy company.
Earlier in the month, SandRidge Energy was dropped as a defendant in the lawsuit. The dismissal by the Sill Law Group was “without prejudice.”
“The filing by SandRidge of a chapter 11 bankruptcy petition does not, in our view, impact or delay progress of the case against other parties,” said James Sill in an interview with the Duncan Banner.
The lawsuit was filed in Stephens County after an Oklahoma City federal grand jury indicted the late Aubrey McClendon, accusing him and others of conspiracy in keeping prices down for leases in northwestern Oklahoma. McClendon was killed in a traffic crash the day after the announcement of the indictment. The indictment was later dismissed by federal prosecutors.
