Unless you exclude yourself from the Settlement Class, if the Settlement is approved, you will be a Participating Class Member. As a Participating Class Member, you will receive any portion of the Net Settlement Fund allocated to you and will be bound by all orders and judgments entered by the Court regarding the Settlement. If the Settlement is approved, you will not be able to sue, continue to sue, or be part of any other lawsuit against any of the Released Parties concerning any of the Released Claims.
If the Court enters a final order approving the Settlement, all Class Members, on behalf of the “Releasing Parties,” will release any “Released Claims” they have against the “Released Parties.” This means that if you remain a member of the Settlement Class, any and all claims related to underpaid and unpaid interest for payments made during the Claim Period will be released and discharged.
“Claim Period” means October 10, 2014 through January 12, 2021.
“Released Claims” include all claims, demands, actions, causes of actions (statutory, contract, tort, equitable, punitive, and other relief), allegations, rights, obligations, costs, losses, and damages arising in whole or in part at any time from underpaid and unpaid statutory interest for Late Payments (as defined in Paragraph 1.39) on Oklahoma oil and gas production made between October 10, 2014 and January 12, 2021. This release includes claims asserted, or that could have been asserted, in the Litigation for failure to pay interest on payments made outside the time periods set forth in the Production Revenue Standards Act or applicable contracts, including underpayment of interest, but does not release claims related to underpaid or unpaid royalty. No other claims are released, including but not limited to: (1) claims of Owners for earned statutory interest on Late Payments made by EOG after January 12, 2021; (2) claims of royalty owners for statutory interest on the underpayment of royalty based on breach of express and/or implied covenants of oil and gas leases and/or force pooling orders; (3) any other claims that Class Members may have against Defendant other than the specific earned statutory interest claims under the PRSA set out in this paragraph; and (4) any and all claims in the matter of Ninnie, LLC et al. v. EOG Resources, Inc., CJ-21-2, District Court of McClain County, Oklahoma.
“Released Parties” means Defendant as well as its respective parent companies, subsidiaries, affiliates, former or present officers, directors, members, employees, agents, insurers, attorneys, board members, predecessors, successors, assigns, and consultants.
“Releasing Parties” means Plaintiff and all Settlement Class members who do not timely and properly opt-out or submit a request for exclusion from the settlement, and who are not otherwise excluded from the Settlement Class by order of the Court.