Marathon Pays $40M To Settle Gas Royalties Suit

Law360, New York (October 21, 2011, 10:11 PM EDT) -- Marathon Oil Co. on Friday agreed to pay $40 million to settle a class action accusing the company of breaching a contract by failing to pay adequate royalties on natural gas to individuals in Oklahoma who own mineral rights.

In a joint motion filed in the Western District of Oklahoma, Marathon and the class plaintiffs asked the court to approve the settlement that, in addition to the cash payment, includes changes to the way Marathon will calculate royalty payments.

"The parties have considered the time, effort...
To view the full article, register now.