Nobel action withdrawn
THE civil action by the United States Environmental Protection Agency (EPA) against Nobel Resources, the former Kish Resources company, has been withdrawn by the agency.
The EPA had claimed infringements of environmental regulations at the Irvine Furnace oil field in Kentucky, before Kish bought an interest in the field. But the company was then added as a party of the civil suit.
Kish sold the field to Richmond Oil & Gas of Kentucky in November 1995. Richmond agreed to take over certain debts relating to Kish's original purchase of the field. The deal included an indemnity in favour of Kish against any penalties claims or damages resulting from the EPA action.