Oil Co. Will Pay $2.1M To End Okla. Royalty Interest Class
Law360 (October 19, 2020, 9:23 PM EDT) -- A Colorado-based oil and natural gas company has agreed to pay $2.1 million and change its interest payment practices to settle allegations it wrongfully withheld interest on late royalty payments to a proposed class of thousands of Oklahoma interest owners.
Named plaintiff Betty Jean Johnston asked a Colorado federal court Sunday to certify the class of Oklahoma interest owners and grant preliminary approval to the agreement reached with Camino Natural Resources LLC. Johnston told the court that not only does the cash payment represent "an outstanding recovery" for the proposed class but that Camino also agreed to begin automatically calculating and...
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