Chieftain Royalty Company, et al., v. BP America Production Company
Chieftain-BP Settlement
4:18-cv-00054-JFH-JFJ

Welcome to the Chieftain-BP Settlement Website

If You Are or Were Paid by BP America Production Company Proceeds from an Oklahoma Oil and Gas Well, You Could Be Part of a Proposed Class Action Settlement.

What is this lawsuit and Settlement about?

The Litigation seeks damages for Defendant’s alleged failure to pay statutory interest on payments made by Defendant (or on behalf of Defendant) outside the time periods set forth in the Production Revenue Standards Act, 52 Okla. St. §570.1, et seq. (the “PRSA”) for oil and gas production proceeds from oil and gas wells in Oklahoma. The Litigation also seeks damages for Defendant’s alleged failure to pay or accrue such interest on proceeds held in suspense or paid to various states as unclaimed property.

What does the Settlement provide?

In consideration of the Settlement, Defendant has agreed to pay $15,000,000.00 in cash. The Settlement, if approved, will result in the dismissal of the Complaint against Defendant and the release by all Class Members of all the Released Claims the Releasing Parties have or may have against the Released Parties, as defined in FAQ 13. The Net Settlement Fund will be distributed to the Class Members who are not excluded from the Settlement Class in accordance with the provisions of the Allocation Methodology and Final Plan of Allocation, which is explained in FAQ 10. For a more detailed description of the consideration provided by the Settlement, see the Settlement Agreement.

Who is included?

The Settlement Class consists of all non-excluded persons or entities:

  1. who received during the Claim Period a Late Payment from Defendant (or Defendant’s designee) of Oklahoma Proceeds and whose payments did not also include the statutory interest prescribed by the PRSA;
  2. whose Oklahoma Proceeds were, during the Claim Period, paid over by Defendant (or Defendant’s designee) to various state agencies as unclaimed or abandoned property without the payment of statutory interest prescribed by the PRSA; or
  3. who, during the Claim Period, were legally entitled to Oklahoma Proceeds held by Defendant (or Defendant’s designee) in suspense accounts for more than the applicable time periods prescribed in the PRSA without the payment by Defendant (or Defendant’s designee) or earning/accruing of statutory interest prescribed by the PRSA for the benefit of such owners.

A list of the persons or entities excluded from the Class can be found at FAQ 7.

YOUR LEGAL RIGHTS AND OPTIONS

If you belong to the Settlement Class and the Settlement is approved, your legal rights will be affected. Read the Notice carefully to see what your rights and options are in connection with the Settlement.

These deadlines may be moved, canceled, or otherwise modified, so please check this site regularly for updates.

Option and Deadline Event
You Do Not Need To Take Further Action To Participate In The Settlement If the Settlement is approved, you do not need to take any further action to participate in the Settlement and receive a payment. The portion of the Net Settlement Fund to which you are entitled will be calculated as part of the administration of the Settlement.
Exclude Yourself
(by February 4, 2022)
If you do not wish to be a member of the Settlement Class, you must exclude yourself and you will not receive any payment from the Settlement Fund. You cannot bring or be part of another lawsuit or arbitration against any of the Released Parties based on any Released Claims unless you exclude yourself from the Settlement Class.
Object (by February 4, 2022) If you do not exclude yourself and you wish to object to any part of the Settlement, the attorneys’ fees or litigation costs requested by Plaintiffs’ Counsel, or the Case Contribution Award requested by Plaintiffs, you may write to the Court about your objections.
Attend the Final Fairness Hearing (to be held on February 25, 2022) If you have submitted a valid and timely written objection to any aspect of the Settlement, the attorneys’ fees or litigation expenses requested by Plaintiffs’ Counsel, or the Case Contribution Award requested by Plaintiffs, you may (but do not have to) attend the Final Fairness Hearing and present your objections to the Court at that hearing.
Do Nothing If you are a Class Member and do nothing, you will be bound by the terms of the Settlement as set forth in the Settlement Agreement and the documents referenced therein, including the final Judgment entered in the Litigation, will be bound by the release of and agreement not to sue the Released Parties, will receive your portion of the Net Settlement Fund (if any), and will not be able to bring or pursue any Released Claims in any other lawsuit or arbitration. It is your responsibility to familiarize yourself with the Settlement and all other important documents regarding the Settlement that can be found on the Important Documents page.

For More Information

Visit this website often to get the most up-to-date information.

Mail
Chieftain-BP Settlement
c/o JND Legal Administration
PO Box 91437
Seattle, WA 98111