Settlement Structure: Claims Made
Active: Open
Case Summary:Kaiser-Francis Oil Company is paying $1.6 million to settle the second part of a class action about royalties from the sale of oil, gas, or other minerals from wells in Oklahoma. The complaint alleged that Kaiser-Francis did not pay the statutory interest owed on royalty payments that were made late, as required by Oklahoma’s Production Revenue Standards Act (PRSA).
This is the Class 2 Settlement, about the payment of interest on late royalty payments; a Class 1 Settlement also exists, about the underpayment of royalties.
Docket Number:19-CV-514-JFH-JFJ
Company: Kaiser-Francis Oil Company
Filing Deadline: January 1, 2100
Class Period: September 1, 2014 to February 28, 2021
Objection Deadline: November 19, 2021
Exclusion Deadline: October 29, 2021
Final Approval Hearing: December 3, 2021
Proof of Purchase:You do not have to provide proof.
Eligibility:You may be eligible if you are a member of Settlement Class 2, that is, all person or entities who received working interest, royalty, or overriding royalty payments from Kaiser-Francis for oil or gas proceeds from oil or gas wells in Oklahoma with check dates between September 1, 2014 and February 28, 2021. See the Settlement Agreement or Notice for exclusions.
Typical Settlement Amount:The Allocation Methodology specifies that the net settlement fund will be distributed among the class members proportionately, according to the amount of statutory interest owed, with consideration of the production date, the date the underlying agreement was made, the amount of the underlying payment, and the time periods set forth in the PRSA.
Total Settlement Amount: $1,600,000
Class Representative Proposed Incentive Fee:$32,000
Law Firms:
Bradford & Wilson, PLLC
Sharp Law, LLP
Case Name: Pauper Petroleum, LLC v. Kaiser-Francis Oil Company
Settlement Website: Pauper v. Kaiser-Francis Class 2 Settlement
Claims Administrator:
JND Legal Administration
Pauper v. Kaiser-Francis Settlement
c/o JND Legal Administration
PO Box 91244
Seattle, WA 98111
833-823-0041