This website provides information about a proposed settlement of a class action lawsuit which alleges that the Defendant underpaid royalties owed to royalty owners on wells operated by QEP in Oklahoma or on wells where they, as a non-operator, separately marketed gas. QEP denies Class Representatives' claims, and denies any liability.
The Settlement provides a minimum value of $155 million to the Class. QEP has agreed to pay $115 million in cash. This cash payment represents more than two and a half times the Class’ estimated amount of underpayment of royalty due to the Class. QEP also has agreed to implement certain binding changes to QEP’s methodology for paying royalty for the lifetime of the leases at issue (such changes equaling a minimum estimated $40 million in present value), for a total immediate and substantial Settlement Amount of at least $155 million. These benefits run with the wells and, as such, are fully transferrable.
YOUR RIGHTS AND OPTIONS AS A CLASS MEMBER
||You will receive benefits due to you, but give up right to sue on your own.
If you don't want to be a part of the settlement, you may file an exclusion.
|Object to the Settlement
||Write to the Court about why you don't like the settlement.
|Attend the Fairness Hearing
||Ask to speak in Court about the fairness of the settlement.