Kaiser-Francis Pays $35M To Settle Gas Royalty Suit

Law360, Los Angeles (July 30, 2013, 9:55 PM EDT) -- An Oklahoma federal judge on Tuesday approved a $35 million settlement in a breach of contract class action accusing Kaiser-Francis Oil Co. of failing to pay adequate royalties.

The plaintiffs contended that Kaiser-Francis made improper reductions on its royalty payments for natural gas. The company countered that there was no fiduciary relationship as a matter of law.

Kaiser-Francis will pay the $35 million sum, and in turn it will be released from claims with respect to volumes of hydrocarbon production attributable to third-party working interest owners...
To view the full article, register now.




Case Information

Case Title

Hill et al v. Kaiser-Francis Oil Company

Case Number



Oklahoma Western

Nature of Suit

Contract: Other


David L. Russell

Date Filed

January 5, 2009

Law Firms

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.