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. The Court has made no determination with respect to the merits of any of the parties’ claims or defenses. A more complete description of the Litigation, its status, and the rulings made in the Litigation are available in the pleadings and other papers maintained by the United States District Court for the Eastern District of Oklahoma in the file for the Litigation.

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. A “Late Payment” for purposes of this class definition means payment of proceeds from the sale of oil or gas production from and an oil‑and‑gas well after the statutory periods identified in Okla. Stat. tit. 52, § 570.10(B)(1) (i.e., commencing not later than six (6) months after the date of first sale, and thereafter not later than the last day of the second succeeding month after the end of the month within which such production is sold). Late Payments do not include: (a) payments of proceeds to an owner under Okla. Stat. tit. 52, § 570.10(B)(3) (minimum pay); (b) prior period adjustments; or (c) pass‑through payments.

Excluded from the Class are: (1) Defendant, its affiliates, predecessors, and employees, officers, and directors; (2) agencies, departments, or instrumentalities of the United States of America or the State of Oklahoma; (3) any Indian tribe as defined at 30 U.S.C. § 1702(4) or Indian allottee as defined at 30 U.S.C. § 1702(2); and (4) the persons or entities listed on the Additional Exclusion List, including affiliates and subsidiaries of each.

The Claim Period means checks or payments made or issued by Defendant from July 2, 2018, to and including March 29, 2024, subject to the terms of this Settlement Agreement regarding Released Claims.

On November 6, 2024, the Court preliminarily approved a Settlement in the Litigation between Plaintiffs, on behalf of themselves and the Settlement Class, and Defendant. This approval and the Notice are not an expression of opinion by the Court as to the merits of any of the claims or defenses asserted by any of the parties to the Litigation, or of whether the Court will ultimately approve the Settlement Agreement.

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.

Class Counsel intends to seek an award of Plaintiffs’ Attorneys’ Fees of not more than 25% of the Gross Settlement Fund. Co‑Lead Class Counsel Reagan E. Bradford and Ryan K. Wilson of Bradford & Wilson PLLC, along with James U. White, Jr. of James U. White, Jr., Inc., have been litigating this case without any payment whatsoever, advancing thousands of dollars in expenses. At the Final Fairness Hearing, Plaintiffs’ Counsel will also seek reimbursement of the litigation and administration expenses incurred in connection with the prosecution of this Litigation and that will be incurred through final distribution of the Settlement, which is estimated to be approximately One Hundred Fifty Thousand Dollars ($150,000.00). In addition, Plaintiffs intend to seek a case contribution award for their representation of the Class, which amount will not exceed Five Thousand Dollars ($5,000.00), to compensate Plaintiffs for their time, expense, risk, and burden as serving as Class Representatives.

The Court must approve the Allocation Methodology, which describes how the Settlement Administrator will allocate the Net Settlement Fund. The Net Settlement Fund will be distributed by the Settlement Administrator after the Effective Date of the Settlement. The Effective Date requires the exhaustion of any appeals, which may take a year or more after the entry of Judgment. The Settlement may be terminated on several grounds, including if the Court does not approve or materially modifies the terms of the Settlement. If the Settlement is terminated, the Litigation will proceed as if the Settlement had not been reached.

The Notice does not and cannot set out all the terms of the Settlement Agreement, which is available for review at the Important Documents page. This website will eventually include the Notice, the Plan of Allocation, and Plaintiffs’ Counsel’s application for Plaintiffs’ Attorneys’ Fees and Litigation Expenses and other costs. You may also receive information about the progress of the Settlement by visiting the Home page, or by contacting the Settlement Administrator.

The Final Fairness Hearing will be held on February 18, 2025, beginning at 10:00 a.m., before Jason A. Robertson, U.S. Magistrate Judge for the Eastern District of Oklahoma, 101 North 5th Street, Muskogee, OK 74401. Please note that the date of the Fairness Hearing is subject to change without further notice. You should check with the Court and the Home page to confirm no change to the date and time of the hearing has been made. At the Fairness Hearing, the Court will consider: (a) whether the Settlement is fair, reasonable, and adequate; (b) any timely and properly raised objections to the Settlement; (c) the Allocation Methodology; (d) the application for Plaintiffs’ Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs; and (e) the application for the Case Contribution Award for the Class Representatives.

A CLASS MEMBER WHO WISHES TO PARTICIPATE IN THE SETTLEMENT AND DID NOT SUBMIT A VALID REQUEST FOR EXCLUSION DOES NOT NEED TO APPEAR AT THE FINAL FAIRNESS HEARING OR TAKE ANY OTHER ACTION TO PARTICIPATE IN THE SETTLEMENT.

By taking no action, your interests will be represented by Plaintiffs as the Class Representatives and Plaintiffs’ Counsel. As a Class Member, you will be bound by the outcome of the Settlement, if finally approved by the Court. The Class Representatives and Plaintiffs’ Counsel believe that the Settlement is in the best interest of the Class, and, therefore, they intend to support the proposed Settlement at the Final Fairness Hearing. As a Class Member, if you are entitled to a distribution pursuant to the Allocation Methodology, you will receive your portion of the Net Settlement Fund, and you will be bound by the Settlement Agreement and all orders and judgments entered by the Court regarding the Settlement. If the Settlement is approved, unless you excluded yourself from the Settlement Class, neither you nor any other Releasing Party will be able to start a lawsuit or arbitration, continue a lawsuit or arbitration, or be part of any other lawsuit against any of the Released Parties based on any of the Released Claims.

The Deadline to submit your request for exclusion was passed on January 28, 2025. 

If you did not follow the procedures to request exclusion as described in the Notice of Proposed Settlement—including mailing the Request for Exclusion so that it was received by the deadline set out above—you are not excluded from the Settlement Class, and you will be bound by all of the orders and judgments entered by the Court regarding the Settlement, including the release of claims. You could not exclude yourself on the website, by telephone, facsimile, or by e‑mail. If you validly requested exclusion, you will not receive any distribution from the Net Settlement Fund, you could not object to the Settlement, and you will not have released any claim against the Released Parties. You will not be legally bound by anything that happens in the Litigation.

The deadline to object to the Settlement was passed on January 28, 2025.

UNLESS OTHERWISE ORDERED BY THE COURT, ANY MEMBER OF THE SETTLEMENT CLASS WHO DID NOT VALIDLY OBJECT WILL BE DEEMED TO HAVE WAIVED ANY OBJECTION AND SHALL BE FOREVER FORECLOSED FROM MAKING ANY OBJECTON TO THE SETTLEMENT (OR ANY PART THEREOF) AND WILL NOT BE ALLOWED TO PRESENT ANY OBJECTIONS AT THE FINAL FAIRNESS HEARING.

You have the right to retain your own attorney to represent you at the Final Fairness Hearing. If you retain separate counsel, you will be responsible to pay his or her fees and expenses out of your own pocket.

The Notice summarizes the Settlement Agreement, which sets out all of its terms. You may obtain a copy of the Settlement Agreement with its exhibits, as well as other relevant documents, from the Important Documents page, or you may request copies by contacting the Settlement Administrator. In addition, the pleadings and other papers filed in this Action, including the Settlement Agreement, are available for inspection at the Office of the Clerk of the Court, and may be obtained by the Clerk’s office directly. The records are also available online for a fee through the PACER service. If you have any questions about the Notice, you may consult an attorney of your own choosing at your own expense or Class Counsel.

PLEASE DO NOT CONTACT THE JUDGE OR THE COURT CLERK ASKING FOR INFORMATION REGARDING THE NOTICE.