Endeavor reaches $19.25 million settlement with SM Energy

Houston-based driller Endeavor International Corp. reached a $19.25-million settlement with SM Energy Corp over a deal for Marcellus Shale oil and natural gas leases, property and pipeline assets.

SM Energy, a Denver drilling company, filed a lawsuit in 2011 after Endeavor terminated a $110 million deal for Marcellus assets in McKean and Potter Counties. Endeavor said it backed out of the agreement because of property title defects and the “pipeline was not in compliance with regulatory standards.”

The settlement was reached on April 16, according to Endeavor.

Stephanie Ritenbaugh: 412-263-4910 or sritenbaugh@post-gazette.com

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