Important Update: The Court granted final approval to the Settlement on August 26, 2024. Copies of the Court's Order and other relevant pleadings are available on the Important Documents page.

What is this lawsuit about?

The Litigation seeks damages for Defendants’ alleged failure to pay statutory interest on payments made by Defendants (or on Defendants’ behalf) outside the time periods set forth in the Production Revenue Standards Act, Okla. Stat. tit. 52 § 570.1, et seq. (the “PRSA”) for royalty and overriding royalty payments from oil and gas wells in Oklahoma.

Defendants deny any and all liability related to Plaintiffs’ allegations and further states that neither Plaintiffs nor any of the Class Members are entitled to the relief sought in the Litigation and further states that it would not be appropriate to award any type of damages to the Class Members. The Court has not reached a final judgment as to whether Plaintiffs have proved or can prove their claims against Defendants.

Who is included?

The Settlement Class consists of the following individuals and entities:

All non-excluded persons or entities who received late royalty and/or overriding royalty payments during the Class Period from Defendants for Oil & Gas Proceeds from Oklahoma Wells and whose payments did not also include the statutory interest prescribed by the Act.

“Claim Period” means any time period when checks or payments were made or issued on behalf of or by Defendants prior to and including November 30, 2023.

A list of the persons or entities excluded from the Class can be found in the Notice of Proposed Settlement, which is available for download from the Important Documents page, or at FAQ 6.

What does the Settlement provide?

In consideration of the Settlement, Defendants have agreed to pay $4,668,120.00 in cash (“Gross Settlement Fund”). The Gross Settlement Fund, less Plaintiffs’ Attorneys’ Fees, Litigation Expenses, Administration, Notice, and Distribution Costs, any Case Contribution Award awarded by the Court, and other costs approved by the Court (the “Net Settlement Fund”), will be distributed to Class Members who qualify for a distribution.