Houston oil and natural gas producer W&T Offshore must pay more than $47m to fellow Houston firm Apache Corporation as determined in the final trial court judgement from the US District Court for the Southern District of Texas.
It relates to a breach of contract dispute from 2014 wherein Apache accused W&T of not honouring its obligations regarding the abandonment of deep-water wells in the Gulf of Mexico.
In October last year, a federal court jury awarded Apache $43.2m on finding that W&T failed to pay its 49% share of the costs to plug and abandon three wells in Mississippi Canyon Block #7674.
W&T had objected to the method and equipment that Apache used for the plugging, saying Apache had acted in bad faith in incurring excessive and unreasonable costs.
The latest final judgement confirms the jury award and adds $4.4m in interest.
A W&T spokesman said the company is considering its options which include post judgement motions and appeal.
