Venoco suing Plains for $12 million over Refugio oil spill pipeline closures
Denver-based Venoco, an oil and gas producer with significant operations in the Tri-Counties, is suing Plains All American Pipeline for more than $12 million in damages.
Venoco is suing the Houston-based energy infrastructure company responsible for the Refugio oil spill for the continued loss of profits that stemmed from the shut down of Line 901 and Line 903. The pipeline closures have shut in Venoco’s Platform Holly.
“For the time period of May 19, 2015 through Nov. 30, 2015, Venoco’s damages for loss of profits and/or earning capacity arising from the rupture of, and injury to, defendant’s pipeline, exceed $12,400,000. Venoco continues to incur damages each day the pipeline is inoperative,” the complaint filed on April 1 in Santa Barbra Superior Court reads.
Plains has refused to pay Venoco’s claim issued on Dec. 31 of more than $12.4 million, the suit alleges.
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