On January 23, 2019, the District Court of Texas County, Oklahoma, granted preliminary approval to a settlement in Litigation brought by the Class Representative on behalf of itself and similarly situated royalty owners asserting that Lime Rock underpaid royalties by taking deductions for fees and expenses, including fuel used, relating to the midstream post-production costs of gathering, compression, dehydration, treatment, processing, and marketing from January 1, 2014 through December 31, 2018.
Additional information about the lawsuit and important court documents may be found on the Important Documents and FAQs pages of this website.
Who is included?
Subject to certain exceptions, the Settlement Class includes:
All royalty owners in Beaver, Texas, Harper, Ellis, Woods, and Woodward County Oklahoma wells marketed by and paid by Lime Rock Resources II-A, L.P. that have produced gas (including gas constituents such as residue gas, natural gas, natural gas liquids, or helium) from January 1, 2014 to December 31, 2018.
A list of the persons, entities and claims excluded from the Class is provided in the Notice of Proposed Settlement, which is available for download on the Important Documents page.
What does the Settlement provide?
The Settlement Agreement provides that Lime Rock shall pay the Settlement Class $1,700,000.00 subject to the conditions and qualifications set forth in the Settlement Agreement, including the provisions decreasing such amount for the return to Lime Rock of any Monies Payable to Opt-Outs (the "Settlement Proceeds"). The Settlement Proceeds is a gross amount before deduction of court approved attorneys' fees and expenses, class representative incentive award, and Settlement Administration Expenses.
To view the Settlement Agreement, and other important court documents, please visit the Important Documents page of this website.