Important Update: Following the hearing on April 28, 2021, the Court granted final approval to the settlement and entered orders awarding fees, expenses, and the case contribution award, and approving an Initial Plan of Allocation Order. Copies of these documents are available for download from the Important Documents page.
What is this Lawsuit about?
The Litigation seeks damages for Defendant’s alleged failure to properly pay royalty on gas and its constituents (Class I) and pay statutory interest on allegedly late payments under Oklahoma law (Class II). 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 Northern District of Oklahoma in the file for the Litigation.
Who is Included in the Settlement?
The Settlement Class in the Litigation consists of the following individuals and entities:
For Class I:
All persons or entities, except as specifically excluded, who are or were royalty owners in Class Wells, where Roan Resources, LLC or any of the Released Parties was the operator (or a working interest owner) who marketed its share of gas as to production on or before November 30, 2020, and royalties on such marketed gas was paid to such royalty owners or held in suspense by, or on behalf of, any of the Released Parties. The claims in this matter relate to royalty payments for gas and its constituents (such as residue gas, natural gas liquids, helium, nitrogen, or drip condensate).
For Class II:
All persons or entities, except as specifically excluded, who received royalty or overriding royalty payments from Roan Resources, LLC or any of the Released Parties for oil and/or gas proceeds from the Class Wells, or whose royalty or overriding royalty oil and/or gas proceeds from the Class Wells were held in suspense by Roan Resources, LLC or any of the Released Parties, on or before November 30, 2020.
A list of excluded entities can be found on the Notice of Proposed Settlement, which can be found on the Important Documents page.
What does the Settlement provide?
In settlement of all claims alleged in the Litigation, Defendant has agreed to pay Twenty Million, Two Hundred Thousand Dollars ($20,200,000.00) 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, which is available for review and download from the Important Documents page) against the Released Parties (as defined in the Settlement Agreement). The Gross Settlement Fund, less Class Counsel’s Fees and Expenses, and 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. The Settlement Agreement also includes Future Benefits for the Settlement Classes.