QEP Puts Up $155M To Settle Gas Royalties Suit

Law360, San Francisco (May 7, 2013, 10:21 PM EDT) -- The QEP Energy Co. on Tuesday urged an Oklahoma federal court to grant final approval to a $155 million settlement that would end claims from a class of landowners who say the company underpaid royalties on the production of fuel extracted from their wells.

Under the proposed deal, QEP would pay $115 million in cash to two subclasses that include more than 1,000 landowners entitled to royalties on the wells QEP operated. QEP also agreed to change its policies regarding royalty payments on the wells, agreed...
To view the full article, register now.