Laredo Petroleum Says It Settled Litigation With Shell Trading

Date : 04/15/2019 @ 10:52PM
Source : Dow Jones News

Laredo Petroleum Says It Settled Litigation With Shell Trading

Laredo Petroleum (NYSE:LPI)
Historical Stock Chart

6 Months : From Mar 2019 to Sep 2019

Click Here for more Laredo Petroleum Charts.
   By Stephen Nakrosis 
 

Laredo Petroleum, Inc. (LPI) said Monday it has settled previously disclosed litigation with Shell Trading (US) Co.

The litigation, which Laredo said was related to a crude-oil purchase agreement, commenced in May 2017.

Laredo said April 12 it received a one-time payment from Shell of $42.5 million, and both sides dismissed their claims with prejudice.

Laredo said it would record the cash payment as non-operating income on its consolidated statement of operations.

Shell Trading (US) Co. is an energy trading company that acts as the single market interface for Royal Dutch Shell (RDSA) companies and affiliates in the U.S.

A spokesman from the company couldn't immediately provide a comment.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

April 15, 2019 17:37 ET (21:37 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

Latest RDSA Messages

{{bbMessage.M_Alias}} {{bbMessage.MSG_Date}} {{bbMessage.HowLongAgo}} {{bbMessage.MSG_ID}} {{bbMessage.MSG_Subject}}

Loading Messages....


No posts yet, be the first! No {{symbol}} Message Board. Create One! See More Posts on {{symbol}} Message Board See More Message Board Posts


Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.


NYSE, AMEX, and ASX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.