GMX Resources seeks injunction against Emerald Oil for confidentiality breach

By Lisa Kerner

Charlotte, N.C., Nov. 13 - GMX Resources Inc. asked the court for a permanent injunction to prevent Emerald Oil, Inc. from continuing to use confidential information for commercial gain and in direct violation of its confidentiality agreement with GMX.

Emerald Oil signed a confidentiality agreement in June to gain access to GMX's virtual data room for information related to the company's proposed asset sale, according to documents filed with the U.S. Bankruptcy Court for the Western District of Oklahoma.

GMX maintains that Emerald Oil used the information it obtained via the virtual data room to execute leases through ALS Energy Resources for Emerald Oil's commercial gain and to GMX's detriment.

Emerald Oil is an oil and gas exploration and production company with operations in Colorado, Montana and North Dakota.

In addition to the permanent injunction, GMX is asking the court to require Emerald Oil to relinquish and forfeit any leases it acquired in violation of the confidentiality agreement or, alternatively, turn such leases over to the debtor, the filing said.

Oklahoma City-based GMX Resources explores, develops and produces properties for the production of crude oil and natural gas. The company filed for bankruptcy on April 1 in the U.S. Bankruptcy Court for the Western District of Oklahoma under Chapter 11 case number 13-11456.

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