A $5.4 MILLION “lost in hole” lawsuit is engaging the High Court in San Fernando, between an oil services company and a contractor who has ventured into the oil business.
Tucker Energy Services of Princess Margaret Street, San Fernando slapped the lawsuit on TN Ramnauth & Co, claiming US$803,577.77 for a logging tool which got lost in one of TN’s oil wells. Justice Frank Seepersad is adjudicating in the matter, in which Tucker is contending that in 2014, by agreement, the company provided wireline logging services to TN, a company based in Penal.
The lawsuit explained that a logging tool is lowered at the end of a wireline into an oil well, in order to make a detailed record of the geological formations within the well. Tucker provided the tool and pursuant to an agreement with TN, carried out three logging jobs for the latter company on three wells in April 2015.
But Tucker contended that it was an express term of the agreement that in the event any of its logging tools being “lost in the hole” or damaged beyond repair, TN would be responsible for the cost of any “fishing” operations to retrieve the tools or replacement costs, including shipping and transport cost.
Tucker explained that “lost in hole” is a common industrial term which refers to tools being lost, damaged, or left in the well during the logging process. Tucker said it performed the service for TN diligently and in accordance with standard practice.
However, the logging tool became “lost in hole”and Tucker is claiming TN refused to pay for it. Attorneys M Hamel-Smith and Co are representing Tucker while attorney Jagdeo Singh is arguing the case for TN. The case continues today.