News and Results : SKV Wins $2.39 Million for JAB Energy Solutions News and Results : SKV Wins $2.39 Million for JAB Energy Solutions

SKV Wins $2.39 Million for JAB Energy Solutions

SKV Wins $2.39 Million for JAB Energy Solutions

SKV partners Lee Kaplan and Ty Doyle, as well as associate Razvan Ungureanu (who did an outstanding job in cross-examination of defense witnesses), won a major trial victory for client JAB Energy Solutions II.  This case involved a series of disputes between JAB and defendants Peregrine Oil & Gas, LP and Peregrine Oil & Gas II, LLC (collectively, "Peregrine").  The most significant allegation was that Peregrine, in violation of its agreement with JAB, had improperly withheld proceeds from oil and gas extracted from offshore wells in the Gulf of Mexico.  Peregrine asserted that it was entitled to withhold those proceeds until a substantial "non-participating party" penalty was repaid.  Following a bench trial in Harris County District Court, the court sided with JAB and awarded it $2.39 million in damages and interest for proceeds that had been withheld since 2015.