Anadarko faces investor lawsuit over Firestone house explosion

Anadarko Petroleum, the oil and gas giant that owns the Firestone well linked to a fatal house explosion, is now facing at least two lawsuits over the incident.

Earlier this month, an investor named Robert Edgar sued Anadarko, alleging that the company “made materially false and misleading statements” about its maintenance and safety protocols for wells such as the one linked to the explosion. In the days after state authorities connected the well to the explosion and Anadarko shut down 3,000 vertical wells in northeastern Colorado in response, the company’s share price plunged by more than 10 percent, according to Edgar’s lawsuit. He is seeking class-action status for the lawsuit, a move that, if approved, could pull a substantial number of Anadarko’s investors into the case.

Edgar’s lawsuit is filed in federal court in Texas, where Anadarko is headquartered. Denver7 first reported news of the lawsuit.

The April 17 explosion on Twilight Avenue in Firestone killed Mark Martinez and Joey Irwin and seriously injured Martinez’s wife, Erin. State officials have concluded that the explosion was caused by gas leaking from a severed flowline extending from one of Anadarko’s wells.

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