Chesapeake Energy to pay $119M in Oklahoma royalty case

Chesapeake Energy to pay $119M in Oklahoma royalty case

Jan 26 2015, 17:13 ET | About: Chesapeake Energy Corporation (CHK) | By: Carl Surran, SA News Editor 
  • Chesapeake Energy (NYSE:CHK) agrees to pay $119M under a preliminary settlement with Oklahoma mineral rights owners who accused the company of improper royalty payments dating back to 2004.
  • Landowners accused CHK of improperly withholding royalty money and charging them for the costs of processing and transporting gas; the class action lawsuit affects more than 11,800 wells in Oklahoma.
  • CHK has faced similar lawsuits in Pennsylvania and other places where it operates.

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Permalink Reply by Anthony G. Shumway on February 2, 2015 at 9:01am

How do I friend you?  I'd like the info.

Tony Shumway

Permalink Reply by Sherre Boyanowski on February 2, 2015 at 11:53am

I sent you a friend invite. Accept and message me with questions.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on February 3, 2015 at 5:16am

Anthony,

      I tried to Friend you but the a message said you would have to Friend me first. I must have missed my opportunity as I have seen in the past if you don't act immediately.

To Friend a member, go to the Sign Out Column at Top Right above, go down the column to Friends - Invite, then search using my name. When I show up click on Friend.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on February 4, 2015 at 11:33am

Anthony,

    Looks like we are now Friends.

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on January 31, 2015 at 4:49am

I'm in with you Frank. 

Let's use the power of persuasion using pen & paper without demanding though.

Stopping the theft will change the history of our nation for the better.

That alone should convince anyone to help us stop the greed that has turned our country into the same feudal system that our Forefathers left in Europe.

After we change the Oil & Gas industry we need to salary cap the corporate ceos to allow the rest of the US citizens to share in the economy.

Permalink Reply by frank speaker on January 31, 2015 at 12:29pm

Its not just the CEOs. I learned the other day that the CEO of Apple makes 4million, but just one of Apple's VPs has an annual salary of $75million!

I'm going to friend you and we'll get going on this.

Permalink Reply by Denise Rouse on January 30, 2015 at 2:35pm

I received a letter from a McDonald Law Firm asking me to sign something in reference to the underpaid Royalty Claim Against Chesapeake; has anyone else received this letter and if so, what did you do?

0ym9x5ag7ury2Permalink Reply by 0ym9x5ag7ury2 on February 2, 2015 at 5:18am

Denise,

    I personally am holding off on joining a law suit. I've heard they are taking 30 to 50% from each landowner since the suits are "One on One" not Class Action. 

Check for the "Power Of Attorney" statement in their contract. When you sign, if they have a Power Of Attorney clause, they will take your checks if you win, then cash them to pay all their bills and send you what is left. The TV lawyers are doing this as well, DWH for instance. I saw his contract last year.

Producers are conducting theft, which needs to be corrected for everyone across the country. Lawsuits shouldn't be required when someone steals from you, law enforcement should stop the theft, then you can sue if you want.

Permalink Reply by Sherre Boyanowski on February 2, 2015 at 1:30pm

Good advise Ron.  Not much will be done anyway until the class action and class arbitration suits are settled. I heard that the courts told them to consolidate the cases. Not sure if that is going well. 

You have 4 years for statute of limitations. If it is 4 yrs and 1 month, you only lose out on that 1st month. Most of us still have some time until we lose anything. Take your time and research all your avenues. I too am mad, but not being hasty. 

If the Dept of Justice and Atty Generals get it done for us, it won't cost us anything. The Feds and the States want their money too. They are getting royalties and want what is rightfully owed to them. Sign up with a law firm, the Feds settle this, and you still pay the lawyer. Who wins? The lawyer, and he didn't lift a finger. That makes me madder!

Permalink Reply by Sherre Boyanowski on January 31, 2015 at 3:24am
He is another vulture circling to take your money. I have been to 3 of his meetings, and every time he changes his story. He tells you what you want to hear, how his is going to get your money for you, and it won't cost you a penny (maybe). The Dept of Justice may take care of this problem for you and he will still take your money. Go to his meetings with an open mind and lots of questions. Do not sign anything until you have been to several of them. He talks a good talk, but he does not have ANY experience in Oil & Gas litigation. He plans on them settling before it ever gets to trial. Are you in Bradford Co., Pa? He plans on being back here in early March. I'm curious to hear what he has to say next and how his plans have changed. Friend me if you want more of my opinion.
Permalink Reply by Sherre Boyanowski on January 31, 2015 at 6:25am

We are having an audit done first. Then we will see where we proceed from there. 

Permalink Reply by Jim White on January 31, 2015 at 4:58pm

Sherre

Who are you going to have do the audit? I could use someone like that.

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