Oil Companies Accused of Massive Accounting Fraud in New Mexico Suit claims ExxonMobil and others underreported debts by $194 million, calling it “a playbook” for how companies dump old wells and expenses on states.

"Oil companies #ExxonMobil, #EmpirePetroleum and their subsidiaries engaged in accounting fraud that could cost the state nearly $200 million, a lawsuit filed in #NewMexico District Court alleges." The case could change how old oil and gas assets are sold, reducing the number of orphan wells.