Judge Affirms $11.5M In Chesapeake Energy Lease Deals

Law360 (June 3, 2021, 8:59 PM EDT) -- A Texas judge has affirmed $11.5 million in bankruptcy court settlements between Chesapeake Energy Corp. and Pennsylvania oil and gas leaseholders with underpaid royalty claims, finding on Thursday that the deals were fair and reasonable.

In his opinion, U.S. District Judge Lee Rosenthal dismissed an appeal of the bankruptcy court's approval of the class action settlements by dissenting leaseholders, rejecting their arguments that the settlements needed more scrutiny than the bankruptcy court gave them.

"The settlement is their only practical vehicle for any recovery," she said.

Oklahoma City-based Chesapeake Energy — one of the largest oil and gas exploration firms in...

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