Important Update: The Court granted final approval to the Settlement on September 18, 2023. 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 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.

Who is included?

The Settlement Class 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.

What does the Settlement provide?

In consideration of the Settlement, Defendant has agreed to pay One Million Eight Hundred Fifty Thousand Dollars ($1,850,000.00) 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, other costs approved by the Court, and potentially some amount of money attributable to Class Members who are excluded from the Settlement Class (the “Net Settlement Fund”), will be distributed to Class Members who qualify for a distribution.