Important Update: The Settlement Administrator began issuing Distribution Checks to eligible Class Members on May 12, 2023.

What is this lawsuit about?

The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on payments made by Defendant (or on Defendant’s behalf) outside the time periods set forth in the Production Revenue Standards Act (the “PRSA”) for oil and gas production proceeds from oil and gas wells in Oklahoma.

Defendant denies 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 made no determination with respect to any of the parties’ claims or defenses.

Who is included?

The Settlement Class in the Litigation consists of all non-excluded persons or entities who received, or during the pendency of this action will receive, Untimely Payments from Defendant for O&G Proceeds from Oklahoma Wells and whose payments did not also include statutory interest prescribed by the Act.

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

If you belong to the Settlement Class and the Settlement is approved, your legal rights will be affected. Read the Notice carefully to see what your rights and options are in connection with the Settlement.

What does the Settlement provide?

In consideration of the Settlement, Defendant has agreed to pay Fifteen Million Dollars ($15,000,000.00) in cash (“Gross Settlement Fund”). In exchange for the payment noted above and other consideration outlined in the Settlement Agreement, the Settlement Class shall release any and all Released Claims the Releasing Parties have or may have against the Released Parties. The Gross Settlement Fund, less Plaintiffs’ Attorneys’ Fees, Litigation Expenses, Administration, Notice, and Distribution Costs, any Case Contribution Award awarded by the Court, other costs approved by the Court, and potentially some amount of money attributable to Class Members who are excluded from the Settlement Class will be distributed to Class Members who qualify for a distribution.