QEP Owes Fiduciary Duty To Royalty Owners: Judge

Law360, New York (May 11, 2011, 2:44 PM EDT) -- An Oklahoma federal judge ruled Tuesday that QEP Energy Co. has a fiduciary duty to a group of local mineral rights owners in a class action accusing the gas company and several others of not paying enough in royalties.

Judge David L. Russell granted named plaintiff Naylor Farms' motion for partial summary judgment on the existence of fiduciary duties under Oklahoma law and denied QEP's counter summary judgment request on the issue. In doing so, he rejected QEP's argument that an order creating a drilling and...
To view the full article, register now.