Broadbent v. Presidio Petroleum Settlement

District Court of Roger Mills County, State of Oklahoma

WEBSITE OF PROPOSED SETTLEMENT, MOTION FOR ATTORNEYS’ FEES AND COSTS, CASE CONTRIBUTION AWARD, AND FINAL FAIRNESS HEARING

A Court authorized this website. This is not a solicitation from a lawyer.

If you belong to the Settlement Class and this Settlement is approved, your legal rights will be affected. Read this website carefully to see what your rights are in connection with this Settlement.

If you received payment of oil-and-gas proceeds from production from an Oklahoma oil and/or gas well from Defendant Presidio Petroleum LLC (“Presidio” or “Defendant”) issued between the Claim Period of January 25, 2018, and November 30, 2022, you may be a member of the Settlement Class in the Litigation captioned above and described below (“the Litigation”).  The Court has directed this website to be provided to all Class Members. Capitalized terms not otherwise defined on this website shall have the meanings attributed to those terms in the Settlement Agreement referred to below and available on the Documents section of this website. 

This website generally explains the claims being asserted in the Litigation, summarizes the Settlement, and tells you about your rights to remain a Class Member or to timely and properly submit a Request for Exclusion (also known as an “opt out”) so that you will be excluded from the Settlement. This website provides information so you can decide what action you want to take with respect to the Settlement before the Court is asked to finally approve it. If the Court approves the Settlement and after the final resolution of any objections or appeals, the Court-appointed Settlement Administrator will issue payments to final Class Members, without any further action from you. This website describes the lawsuit, the Settlement, your legal rights, what benefits are available, who is eligible for them, and how to get them.

The Settlement Class in the Litigation consists of the following individuals and entities: 

All non-excluded persons or entities to whom Presidio: (1) made Late Payments for oil and gas proceeds from Oklahoma wells during the Claim Period, and (2) the payments did not include statutory interest under Oklahoma’s Production Revenue Standards Act (“PRSA”), 52 O.S. § 570.1 et seq.  A “Late Payment” for purposes of this class definition means payment of proceeds during the Claim Period from the sale of production from an Oklahoma oil and/or gas well after the statutory periods identified in 52 O.S. § 570.10.  Late Payments do not include any payment made on account of prior period adjustments.

Excluded from this class are: (1) Defendant, its affiliates, predecessors, and employees, officers, and directors; (2) agencies, departments, or instrumentalities of the United States of America or the State of Oklahoma; (3) any Indian Tribe as defined at 30 U.S.C. § 1702(4) or Indian allotee as defined at 30 U.S.C. § 1702(2); (4) publicly traded oil and gas companies and their affiliates; (5) officers of the court; and (6) Dan McClure, Kelly McClure Callant, FourPoint Energy, LLC, and Unbridled Resources, LLC.