Maxus Energy Corporation was engaged in the exploration and production of oil and natural gas in the mid-continent region of the United States; and Indonesia and Ecuador, as of March 31, 1997. Maxus Energy Corporation operates as a subsidiary of YPF Holdings Inc.
717 North Harwood Street
Dallas, TX 75201-6594
Founded in 1983
Attorney General's Office, Department of Environmental Protection Announce $130 Million Partial Settlement with Repsol, S.A., YPF, S.A., YPF Holdings, Inc., YPF International, CLH Holdings, Inc., Maxus Energy Corporation, Maxus International Energy Company and Tierra Solutions, Inc. in Passaic River Litigation
Jun 11 13
Acting Attorney General John Hoffman and Department of Environmental Protection (DEP) Commissioner Bob Martin announced that several principal defendants in the Passaic River litigation have agreed to pay the state $130 million to resolve a portion of the state's claims related to contamination of the Passaic River. The settling defendants are Repsol, S.A, YPF, S.A., YPF Holdings, Inc. and YPF International, as well as CLH Holdings, Inc., Maxus Energy Corporation, Maxus International Energy Company and Tierra Solutions, Inc. The agreement follows a recently-announced $35.4 million proposed settlement with 258 third-party defendants and, if approved by the court, will allow the state to immediately proceed with its claims against the principal defendant, Occidental Chemical Corporation (OCC), for the bulk of the state's damages and future costs. The proposed settlement was presented on Friday to Superior Court Judge Sebastian P. Lombardi in Newark and Special Master Marina Corodemus. Since the state and the settling defendants technically remain in litigation, the state cannot comment on the terms of the proposed agreement. Going forward, the state intends to pursue its liability claims against the one remaining non-settling principal defendant, Occidental Chemical Corporation, for all future clean-up and removal costs related to contamination of the Passaic River. It also will pursue OCC for damages resulting from the intentional discharge of Agent Orange, dioxins and other hazardous substances by the former Diamond Shamrock plant. These costs and damages are separate from, and in addition to, the $130 Million received from the settling defendants.