Oklahoma City’s Continental Resources has gone to court in Texas with a lawsuit against Hess Corp claiming it was defrauded by up to $69 million in deals it had with the well operator.
The lawsuit contended that Continental Resources was cheated out of $34 million to $69 million in revenue from oil and gas production. According to a report by Reuters, the lawsuit is based on the operation of hundreds of wells in North Dakota by Hess and the Houston firm allegedly artificially inflated midstream service fees by entering into agreements with its own subsidiaries.
Continental, a major operator in North Dakota, holds a non-operating working interest and claimed its net revenues from hydrocarbons from the wells were far below market value because of the excessive service fees charged by Hess Midstream Partners.
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