Wednesday, October 4, 2023
Courthouse News Service
Wednesday, October 4, 2023 | Back issues
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Broker Accused of Busting Oil Rig Purchase

HOUSTON (CN) - Contender Offshore Services claims its broker, Bassoe Offshore, stole its research on 12 offshore oil rigs in the Gulf of Mexico and used it to help another client land the valuable purchase.

Contender claims it gave Bassoe its confidential research on the oil rigs - the result of more than 2,000 hours of work - to help the broker negotiate on its behalf. The rigs were owned by Pride International, one of the world's largest offshore drilling companies.

A Bassoe representative allegedly submitted Contender's bid for $30 million, and then ignored Contender's follow-up emails.

Contender says it later discovered that Pride had sold the rigs to Blake Offshore, and that Bassoe had been the broker for the transaction.

"It has thus become clear that Bassoe, while purporting to represent ... Contender in the purchase of Pride assets, was actively promoting an acquisition proposal for the same Pride assets on behalf of another client," the lawsuit claims.

Defendants are Bassoe, Blake Offshore, Blake International, Mike Smith and Jonathan Fairbanks III.

Contender is represented in Harris County Court by Martin Shellist with Shellist & Lazarz LLP and E. Michelle Bohreer with Bohreer & Zucker LLP.

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