What is this lawsuit about?

The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on allegedly late payments of royalty and overriding royalty oil‑and‑gas proceeds under Oklahoma law. Defendant expressly denies all allegations of wrongdoing or liability with respect to the claims and allegations in the Litigation.

Who is included?

The Settlement Class in the Litigation consists of the following individuals and entities:

All non‑excluded persons or entities who own royalty or overriding royalty interests in Defendant’s wells and who, during the Claim Period: (1) received Late Payments from Defendant for oil‑and‑gas proceeds attributable to royalty or overriding royalty interests in Oklahoma wells; or whose royalty and overriding royalty proceeds were sent as unclaimed property to a government entity by Defendant; and (2) who have not already been paid statutory interest on Late Payments for such royalty or overriding royalty interests.

The Claim Period means checks or payments made or issued by Defendant from July 2, 2018, to and including March 29, 2024.

What does the Settlement provide?

In settlement of all claims alleged in the Litigation, Defendant has agreed to pay One Million Five Hundred Thousand Dollars ($1,500,000.00) in cash (“Gross Settlement Fund”). In exchange for this payment and other consideration outlined in the Settlement Agreement, the Settlement Class shall release the Released Claims (as defined in the Settlement Agreement) against the Released Parties (as defined in the Settlement Agreement). The Gross Settlement Fund, less Plaintiffs’ Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs, Case Contribution Award, and any other costs approved by the Court (the “Net Settlement Fund”), will be distributed to final Class Members pursuant to the terms of the Settlement Agreement.