Follow-Up On That $181 Million Nuverra Lawsuit -- February 25, 2015

I had forgotten all about this one. 

The original story was posted here. At that time, despite the $181 million lawsuit, "...based on the pre-award analysis of the case, Heckmann Water Resources exposure in this matter was not expected to exceed its available insurance limits of $16 million."

Here is the follow-up in a Nuverra press release, dated July 16, 2014:

Nuverra has agreed to fund $5.5 million of the total settlement amount to fully resolve the matter. The settlements were fully approved by the District Court of Dimmit County on July 15, 2014. Terms of the settlements, including the total settlement amounts and the portion paid by the Company’s insurer, are confidential. These settlement agreements include all plaintiffs and the Company’s insurer and release Nuverra and all of its subsidiaries from all past and future claims or liabilities related to this matter.

The Company will take a charge related to the settlement in the second quarter ended June 30, 2014, which will include the $5.5 million one-time cash payment and related legal fees and defense costs. 

Surprise, surprise -- came in well under the "available insurance limits."

I wonder how the jury came up with the initial $181 million, rather than, let's say, $179 million or $183.5 million. Ya gotta love these Texas juries.