El Paso Natural Gas resolved some litigation.
Effective Sunday, a settlement was implemented among El Paso Natural Gas, Tenneco Oil and Conoco resolving more than 12 years of litigation concerning gas properties that El Paso acquired during the 1950s in the San Juan Basin area of northwestern New Mexico. Under the settlement, which was approved by the Federal Energy Regulatory Commission, El Paso will assign its oil and gas rights in some 143,000 acres to Tenneco Oil and Conoco, and certain overriding royalty interests previously owned by Tenneco Oil and Conoco in those properties terminate.
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