By OGJ editors
HOUSTON, Nov. 21 -- The US Court of Federal Claims has ruled that the US government must return more than $1.1 billion in lease bonuses to 12 holders of 36 federal oil and gas leases off California.
The court granted a plaintiffs' motion for summary judgment on liability and partial summary judgment on damages in a breach of contract lawsuit, Amber Resources Co. et al. vs. United States. It said the government's imposition of new requirements on the leases created a significant obstacle to oil and gas development and breached agreements made when it sold the leases.
Amber Resources Co., a subsidiary of Delta Petroleum Corp., Denver, is one of 12 plaintiffs.
Delta Petroleum said the court still must address plaintiffs' claims about four other leases and about hundreds of millions of dollars spent in successful efforts to find oil and gas in the disputed lease area.
The final ruling will be subject to appeal. No payments will be made until all appeals have been waived or exhausted, Delta Petroleum said.
