Continental Resources Accuses Hess of $69 Million Fraud ...Middle East

OILPRICE - Economy
Continental Resources Accuses Hess of $69 Million Fraud
source : OILPRICE ( Middle East ) () 32
Energy independent Continental Resources has accused sector player Hess Corp of fraud to the tune of $69 million in a lawsuit alleging the latter artificially inflated the price of its midstream services through deals with its own subsidiaries. Per a Reuters report citing the lawsuit, the alleged fraud concerned oil wells in North Dakota, in which Continental Resources holds non-operating interests. The net revenues that the company received from those wells was much lower than their market value because of those inflated midstream prices that…

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