Southwestern Settles

Most of that lawsuit brought by a Southwestern Energy Co. subsidiary against 17 parties who allegedly cheated the company has reportedly been settled.

Southwestern Energy Production Co., the exploration unit of the Fayetteville-based company, filed suit last October in U.S. District Court in Oklahoma City, contending its investigators found evidence of overbilling, kickbacks and conflicts of interest. The lawsuit followed an extensive investigation by SEPCO into charges that some employees and subcontractors involved with gas exploration projects were bilking the company. Allegedly, bills were even submitted by people who had never worked for the company.

Apparently, the largest part of the suit was settled following a three-day mediation session in Houston. Settlement documents are expected to be filed in Oklahoma City within the next few days, but don’t expect them to reveal many details. Terms of such settlements are usually confidential.