- Exxon Mobil's (NYSE:XOM) XTO Energy shale unit has filed a breach of contract lawsuit against Energy Transfer (NYSE:ET) over disputed payments for the Dakota Access Pipeline, according to a Texas state court filing.
- The lawsuit alleges Energy Transfer hit XTO with deficiency charges and revoked other credits after Exxon shifted some oil to other outlets last August.
- Exxon asked a state court in Houston last week to award it more than $1M in damages, a return of its revoked credits, attorneys fees and other costs.
- A federal court hearing is set for Friday on whether DAPL can continue to operate without a crucial permit while the U.S. Army Corps of Engineers conducts an environmental review of the pipeline.
- Energy Transfer management has said it sees no scenario where the Dakota Access pipeline will not be allowed to continue to operate.