Tyler County landowner receives $4.9 million in damages for lost royalties
Wednesday, March 11, 2015
Due to a Federal Court’s decision that an oil and gas company didn’t follow through with lease agreements, a Tyler County, West Virginia, land owner has been awarded $4.9 million, according to WTOV.
In 2011, the landowner leased his oil and gas rights to Cunningham Energy, LLC. In 2011, Cunningham filed against the landowner. The landowner filed a counterclaim, stating that Cunningham hadn’t complied with a “drilling commitment” in the leases.
The court found that Cunningham hadn’t satisfied the lease terms, and thus awarded the landowner with damages in the amount of money that the landowner would have received if Cunningham had drilled the wells.
Via: WTOV > Tyler County landowner awarded nearly $5 million verdict for lost royalties
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