Smyser Kaplan & Veselka, LLP: Appellate Victory in $162 Million Oil and Gas Dispute - WNEM TV 5

Smyser Kaplan & Veselka, LLP: Appellate Victory in $162 Million Oil and Gas Dispute

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SOURCE Smyser Kaplan & Veselka, L.L.P.

HOUSTON, July 31, 2014 /PRNewswire/ -- The Houston First Court of Appeals affirmed on all issues a judgment vindicating DeepRock Venture Partners, LP and Paul Touradji and awarding them $1.75 million on counterclaims, Smyser Kaplan & Veselka, LLP announced today.

Plaintiffs Gary Beach, Beach Capital Partnership, LP, Playa Oil & Gas, GP, LLC and Playa Oil & Gas LP sued SKV's clients for $162 million, alleging primarily a failure to develop an oil and gas salt dome prospect in southern Louisiana

After a three-week jury trial in the 55th District Court of Harris County, SKV's clients obtained a take-nothing verdict against the plaintiffs on their claims and an award of $1.75 million on counterclaims against Gary Beach and Beach Capital for breach of contract and breach of fiduciary duty.

SKV partners Jeff Potts and Land Murphy tried the case and defended the appeal, as co-counsel with Sean O'Brien, of O'Brien L.L.P., in New York.

The case is "Beach Capital Partnership, L.P., Gary M. Beach, Playa Oil and Gas GP LLC, and Playa Oil & Gas LP v. DeepRock Venture Partners LP and Paul Touradji," No. 01-11-00968-CV in the Court of Appeals, First District of Texas.

Contacts: Jeff Potts and Land Murphy, Smyser Kaplan & Veselka, L.L.P., Bank of America Center, 700 Louisiana, Suite 2300, Houston, Texas 77002; 713.221.2300; www.skv.com.

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