What is this lawsuit about?
The Litigation seeks damages for Defendants' alleged failure to pay statutory interest on allegedly late payments under Oklahoma law. Defendants expressly deny all allegations of wrongdoing or liability with respect to the claims and allegations in the Litigation but has agreed to the proposed Settlement to avoid the uncertainty, burden, and expense of continued litigation. The Court has made no determination with respect to the merits of any of the parties' claims or defenses.
Who is included?
The Settlement Class in the Litigation consists of the following individuals and entities:
All non-excluded persons or entities who: (1) received late payments under the PRSA from Defendants (or Defendants' designee) for oil and gas proceeds from Oklahoma wells, or whose proceeds from Oklahoma wells were sent as unclaimed property to a government entity by Defendants; and (2) whose proceeds did not include the statutory interest required by the PRSA.
The Claim Period means checks or payments by Lime Rock dated between February 25, 2020, through January 25, 2026, subject to the terms of the Settlement Agreement regarding Released Claims.
What does the Settlement provide?
In settlement of all claims alleged in the Litigation, Defendants have agreed to pay Three Million Three Hundred Forty Thousand Dollars ($3,340,000.00) in cash (“Gross Settlement Fund”). In exchange for this payment 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 Plaintiff’s 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.
Your Legal Rights and Options
These deadlines may be moved, canceled, or otherwise modified, so please check this site regularly for updates.
| Option & Due Date | Status | Event Description |
|---|---|---|
Do Nothing, Participate in The Settlement | Explanation: By taking no action, your interests will be represented by Plaintiff as the Class Representative and by Plaintiff's Counsel. As a Class Member, you will be bound by the outcome of the Settlement, if finally approved by the Court. 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. | |
Exclude Yourself received by August 26, 2026 at 5:00 P.M. Central | Status: Upcoming | Explanation: If you do not wish to be a member of the Settlement Class, then you must exclude yourself from the Settlement Class. If you validly request exclusion, you will not receive any distribution from the Net Settlement Fund, you cannot 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. For more information, see FAQ 6. |
Object received by August 20, 2026 at 5:00 P.M. Central | Status: Upcoming | Explanation: Any Class Member who wishes to object to the fairness, reasonableness, or adequacy of the Settlement, any term of the Settlement, the Allocation Methodology, the Plan of Allocation, the request for Plaintiff’s Attorneys’ Fees and Litigation Expenses and Administration, Notice, and Distribution Costs, or the request for the Case Contribution Award to Class Representative may file an objection. To be valid, your objection has to meet certain requirements. For more information, see FAQ 7. |
Retain Your Own Attorney | Status: | Explanation: You have the right to retain your own attorney to represent you at the Final Fairness Hearing, which will be held on September 10, 2026, beginning at 10:00 a.m. CT. If you retain separate counsel, you will be responsible for that attorney's fees and expenses out of your own pocket. For more information about the Hearing, see FAQ 4. |
