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Exxon sues government over canceled Gulf leases

• Submitted by Asst Natl Dir Mellie B on August 19, 2011 at Patriot Action Alerts

Exxon sues government over lucrative canceled Gulf leases

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NEW YORK | Thu Aug 18, 2011 12:11pm EDT

(Reuters) - Exxon Mobil Corp (XOM.N) sued the government to reverse a decision by the Department of the Interior to cancel offshore oil and gas leases estimated to yield tens of

billions of dollars of oil.
 

The lawsuit, filed on August 12 in the federal court in Lake Charles, Louisiana, said the decision arbitrarily deprived it of rights under three of five leases for what is called the Julia field. It said this took away Exxon's ability to produce a reservoir believed to hold billions of barrels of oil.

 

Two other leases have yet to expire. The complaint was reported earlier by The Wall Street Journal.

http://www.reuters.com/article/2011/08/18/us-exxon-lawsuit