floydcountytimes.com

Lawsuit claims Equitable violated oil and gas rights

MARY MUSIC
Staff Writer

12 months 2 hours ago |251 Views | | | Email | Print

PRESTONSBURG - A Pennsylvania company cited in three pending lawsuits regarding the November 2004 Ivel explosion was named in a separate property damage suit last week that stems from a 1923 oil and gas lease.
Pikeville attorney Marrs Allen May filed suit against Equitable Resources Inc. on behalf of the Pikeville based Adams Real Estate Limited Partnership.
The real estate company claims ownership of oil and gas rights on 11 Floyd County properties that were deeded in the 1970s to Eugene and Juanita Stratton, Riley and Florence Hall, James Webb, Elizabeth Webb Carr and John Carr, Sarah Webb Martin, John H. and Sue Halbert, Chalmer Roberts, Vernon Carr, Mary Carr, Henry Carr, Lucinda Carr, Charles Carr, Patty Carr, Russell and Susan Frazier, John and Florida Clevenger, Josie Frazier, and Herman and Bernice Potter.
May claims that Equitable Resources, asserting its holding of a lease agreement from a 1923 deed agreement with Ward Allen, has been removing minerals from the real estate company's property without consent.
Equitable Resources has failed to present evidence of its right to control the oil and gas mineral rights to the property after repeated demands, May argues, alleging that the company is trespassing.
May claims that the lease be terminated for these reasons and because of “insufficient consideration and the inequitable and grossly inadequate royalty rates.” He is asking the court for a determination of Equitable Resources' right to obtain and sale minerals from the property, compensatory damages, and a trial by jury.
May did not return inquiry calls.

Comments

comments powered by Disqus

Weather

Sponsored By:

Local Gas Prices

Lowest Gas Prices in Prestonburg
Prestonburg Gas Prices provided by GasBuddy.com

Featured Business